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Hi I would like to share this EA for testing and further improvement of the code. It only works well at this stage on the EURGBP pair but is really promising on the 5 min chart. My 'real' backtesting data only goes back to July 2008 so I have only been able to backtest to then. It works by picking the point at which the low hits the price channel and scalps a few points on the retracement. I have optimised it to the point where the SL is 20points and the TP is either on the action of indicators or 35 points. I have put in a time filter so that the more volatile trading periods can be excluded, which is basically when Sydney and Tokyo are trading only.
Further improvements could include the inclusion of 5 digit trading, and it would be great if someone knew how to include the ability to open multiple trades, but not all at the same time! Please don't PM me asking me for the best set up, please download and test this to find your own and share it with the forum.
Install the PriceChannel.mq4 file into the indicators folder, the other one goes into the experts folder.
Well i found slope line.
Backtest seems quite nice for 2 month now. But i suggest you to think something with TP and SL levels. It is not very well nowadays to have TP and SL optimizable. Is better that ea will self decide when to close and loose.
Like if slope line changed color or something like that.
hey I disappeared because I don't sit on my computer 24/7, I've had to travel for my job and just got back. I would like to share this EA for testing and further improvement of the code, if anybody is interested.
Please test it and tell me if you get the same results as I do, and if so/not, how can do you think it can be improved it to get even better results? I am not a professional coder, I just do my best to develop EAs, searching for the holy grail.
I got a profit factor of 2.1. What broker are you using ie what spreads??
Yeah your error is because this EA does not work with 5 digit brokers, i think that is the first thing that needs to be fixed so it will work with 5 digit brokers!
Quote:
Originally Posted by stace
When I test it, i receive always
2009.06.03 18:42:56 2009.05.08 21:46 PriceChannelSkalper EURGBP,M5: OrderModify error 130
I tried to optimize TP and SL and no luck. With 2 month period of optimization it did not give me nothing.
Linear Mode
