Take 12 pips any day. As long as it is making money constantly then it is a good EA. Do a live feed demo and post result here.

Today was my first day testing this expert. Overall it was a good day. Won 2 out of three times with profits.

I will continual forward testing this EA.

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KSRobot11-07-05.jpg (164.6 KB, 1059 views)

jdun, I had the same GBP short today (but oddly I didn't have the EUR short ).
Anyway, I like this EA too because it trades fairly infrequently but is very conservative and does not seem to lose often.

I noticed you took a loss on the JPY trade. Just keep in mind that this EA was not designed for that pair--but newdigital did tweak the settings to work on the JPY 1 Hour chart (it is attached earlier in this thread if you are inclined to switch)

I am testing this EA on EUR and GBP 30min and newdigital's settings on JPY 1hr.

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ksrobot11.07.05.gif (70.8 KB, 902 views)

Thanks for letting me know about the USD/JPY problem. I will forward test this for one week. I too don't mind the lack of trades as long as there is profits to be made.

Maybe some of you might be able to help me. Newdigtal mentioned that it needs to be in GMT zone. Right now I am using InterbankFx demo account for testing which use GMT on their servers. My live account won't be in GMT so where and how do I make the change in order to match up with the GTM requirements.

thanks

The author said to run the EA from 5am to 5 pm GMT. So you have to change the settings in the code to correspond with your broker's server time.

When you right click on the EA to modify it, go to this piece of the code and change the times. I had to change the times to 6 and 18 to maintain the 5-5GMT because FIBO is on GMT+1.

int daystart = 6; /* 5AM GMT */
int dayend = 18;/* 5PM GMT */

(Remember to 'save' and 'compile' after you make any changes in the code)

Thanks Eric that's what I was looking for.

No problem, glad it helped,

Also, if anyone is interested, I did make a slight modification to the code to adjust the 'Comments' that display on the charts. I changed it from this:

if ( ( Hour() < daystart || Hour() > dayend-1 ) ){
Comment("\nTrading halted. (will start again at ", daystart, " AM )\n");
} else {
Comment("\nExpert is active. (will halt at ", dayend, " PM )\n");
Comment("\nTS = ", TrailingStop, " BE = ", BreakEven, " SL = ", StopLoss, " MAfilter = ", MAfilter,"\n");

to this:

if ( ( Hour() < daystart || Hour() > dayend-1 ) ){
Comment("\nExpert is INACTIVE. Will resume at ", daystart, ":00a.m. (server time) \n");
} else {
Comment("\nExpert is ACTIVE. Will halt at ", dayend, ":00p.m. (server time) ",
"\n",
"\n","TS = ", TrailingStop, " BE = ", BreakEven, " SL = ", StopLoss, " MAfilter = ", MAfilter,"\n");

This doesn't affect the trading in any way. It just makes the comments easier to read, especially when the EA is active--you can see both lines, the ACTIVE line and the settings line.

I have noticed when i backtest this expert very often duplicates trades which skew the results, anyone know some technique in MT4 to avoid this to happen ??

Regards

You can't that I know off. I never trusted backtesting results. You have to do the hard way and forward test it. Look at this way if forward tested for a month and look great you know that the EA can be counted on for real money.

After working with this EA for a while and watching how it operates, I have found that it has good streaks and bad streaks. Overall I was slightly up when forward testing this EA for a few weeks on an account that I accidentally deleted. I started a new demo account for it and it is now not doing well.

There are things I like about this EA and things I don't like about it.

I like:
1) That it uses price as an indicator (enters when price breaks kijun-sen line) Price is the purest indicator with no lag.
2) I like the kijun-sen line too. It is almost like a floating pivot line. There is potential with this type of setup.

I don't like:
1) That it uses buy stop and sell stop orders. When price crosses the kijun-sen line, it waits for the price to retrace to cover the spread. But if price is moving strongly, it will not retrace even that 2 or 3 pips and you will miss out on the trade completely--and those strong moving breaks are the most profitable ones. Why try to save a few pips when it causes you to miss the good moves?
2) I also don't think the moving average is the proper filter. The moving average is a directional indicator. This EA does not need a directional filter--the direction is already determined by the price breaking through the kijun-sen line. A better filter would be a volume or volatility filter, ie., only enter when price breaks through kijun-sen line AND volume or volatility is good. Maybe something like the ADX is rising and above 20 or maybe an indicator like the Juice indicator which measures volatility. This would make a better filter than the MA filter that the EA currently has. Also, you wouldn't have to turn the EA off for half the day either. The proper filter would automatically keep you out of trades when the market is dead.

These are just my thoughts about this EA. I'm not a programmer so I can't really modify it like this. Maybe a future project if I can learn the language a bit better. But for now, I am considering shelving this EA.