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In an attempt to minimize bad effect of strong up or down market movements, I have coded a new Firebird to use iFXAnalyzer as an up and down strong trend indicator. The EA will not place trades during strong up or down trends indicated by chart message "Market Trending up" or "Market Trending Down". I added a Hedge function option to place reverse trade when PipStep trade is triggered. Hedge orders have ability to increase lot size. I cleaned up the EA and now there are no warnings when compiled in MetaEditor. Other added functions are described below.
UseEquityProtection -if true, close all orders when negative Float is excessvie.
FloatPercent –percent of balance for equity protection.
UseMM-money management.
Risk-pecent of account equity to risk per trade.
MaxOpenOrders-sets maximum number of open trades at same time.
MinMarginLevel-below minimum Margin Level percent % trading stops.
CloseDays-number of days trade is open before auto closing.
LossLevel-loss amount before auto closing after Closedays.
UseHedge-if true, places reverse order with PipStep order.
HedgeLotFactor-hedge order Lots will be increased by this factor.
HedgeTakeProfit-
HedgeStopLoss-
AutoCal-if true, iRSI() calculation of TakeProfit, StopLoss and PipStep. (not hedge orders)
This Firebird, as well as most other versions, is very slow in backtest. I can assure the added EA functions work. In backtest with default settings, it performed well on eurusd. gbpusd backtest was a bit shakey, but still in profit. I have not tested other pairs. I hope it performs well in Demo and Live accounts. I found better profits when HedgeLotFactor is set between 2-4.
Warning: The success or failure of this Expert Advisor is the exclusive responsibility of the Enduser.
As requested by Michaelw, I have coded a Trade Time scheduler into latest Firebird v3.2. It is a little bit of overkill. But, it will allow to schedule up to 4 "Trading Time" zones per day and a full week's schedule to be set at one time.
If UseTradeScheduler=true, then the following applies.
Each "Trading Time" zone 1 through 4 has a Start and an End for each day.
To trade all day , set "day"...Start1=0 and "day"...End4=24. This is needed for each trading day.
To skip a full day, set "day"...Start1=0 and "day"...End4=0.
Note: EA is coded to use your Local PC Time.
Here is a Monday example.
MonTradeHourStart1 = 0; - (Trading Time zone 1 start)
MonTradeHourEnd1 = 8; - (Trading Time zone 1 end)
MonTradeHourStart2 = 10;
MonTradeHourEnd2 = 16;
MonTradeHourStart3 = 18;
MonTradeHourEnd3 = 20;
MonTradeHourStart4 = 22;
MonTradeHourEnd4 = 24;
In above schedule, EA trades from 00:00 (midnight) to 08:00, then from 10:00 to 16:00, then from 18:00 to 20:00, then from 22:00 to 24:00.
Non-Trading Time is from 08:00 to 10:00, then from 16:00 to 18:00, then from 20:00 to 22:00.
In an attempt to minimize bad effect of strong up or down market movements, I have coded a new Firebird to use iFXAnalyzer as an up and down strong trend indicator. The EA will not place trades during strong up or down trends indicated by chart message "Market Trending up" or "Market Trending Down". I added a Hedge function option to place reverse trade when PipStep trade is triggered. Hedge orders have ability to increase lot size. I cleaned up the EA and now there are no warnings when compiled in MetaEditor. Other added functions are described below.
UseEquityProtection -if true, close all orders when negative Float is excessvie.
FloatPercent –percent of balance for equity protection.
UseMM-money management.
Risk-pecent of account equity to risk per trade.
MaxOpenOrders-sets maximum number of open trades at same time.
MinMarginLevel-below minimum Margin Level percent % trading stops.
CloseDays-number of days trade is open before auto closing.
LossLevel-loss amount before auto closing after Closedays.
UseHedge-if true, places reverse order with PipStep order.
HedgeLotFactor-hedge order Lots will be increased by this factor.
HedgeTakeProfit-
HedgeStopLoss-
AutoCal-if true, iRSI() calculation of TakeProfit, StopLoss and PipStep. (not hedge orders)
This Firebird, as well as most other versions, is very slow in backtest. I can assure the added EA functions work. In backtest with default settings, it performed well on eurusd. gbpusd backtest was a bit shakey, but still in profit. I have not tested other pairs. I hope it performs well in Demo and Live accounts. I found better profits when HedgeLotFactor is set between 2-4.
Warning: The success or failure of this Expert Advisor is the exclusive responsibility of the Enduser.
As requested by Michaelw, I have coded a Trade Time scheduler into latest Firebird v3.2. It is a little bit of overkill. But, it will allow to schedule up to 4 "Trading Time" zones per day and a full week's schedule to be set at one time.
If UseTradeScheduler=true, then the following applies.
Each "Trading Time" zone 1 through 4 has a Start and an End for each day.
To trade all day , set "day"...Start1=0 and "day"...End4=24. This is needed for each trading day.
To skip a full day, set "day"...Start1=0 and "day"...End4=0.
Note: EA is coded to use your Local PC Time.
Here is a Monday example.
MonTradeHourStart1 = 0; - (Trading Time zone 1 start)
MonTradeHourEnd1 = 8; - (Trading Time zone 1 end)
MonTradeHourStart2 = 10;
MonTradeHourEnd2 = 16;
MonTradeHourStart3 = 18;
MonTradeHourEnd3 = 20;
MonTradeHourStart4 = 22;
MonTradeHourEnd4 = 24;
In above schedule, EA trades from 00:00 (midnight) to 08:00, then from 10:00 to 16:00, then from 18:00 to 20:00, then from 22:00 to 24:00.
Non-Trading Time is from 08:00 to 10:00, then from 16:00 to 18:00, then from 20:00 to 22:00.
Wackena
Thank you for the new version !!
What is the best settings for the new version ???
But doesn't a StopLoss of 300 seem bad? The defaults seem really high ??
matrixebiz,
Firebird was designed as a countertrend EA. On Major pairs these trends can range for several hundred pips. In the past, many ran FB with lower s/l from 40 to 120. You can read the history of FB on this thread here or on ForexFactory forum. I like sl=300, but you can test other values. Nothing is written in concrete.
Ok, thanks. I just didn't want to loose 300 pips if it goes in the wrong direction and wipe out my account. I guess I just don't fully understand it all.
Attached is report sorted by pairs for 1st week of Firebird 3.2. Early in the week had 2 loses due to PercentFloat for equity protection set too low. Turned equity protection off and had no more loses for remainder of week. Could be just pure luck, but FB 3.2 handled OK the US non-farm employment report at 0830 EST.
I believe FB 3.2 does trade slower then other versions due to no trading when trending up or trending down. There were several hedge orders that closed for profit.
Attached is report sorted by pairs for 1st week of Firebird 3.2. Early in the week had 2 loses due to PercentFloat for equity protection set too low. Turned equity protection off and had no more loses for remainder of week. Could be just pure luck, but FB 3.2 handled OK the US non-farm employment report at 0830 EST.
I believe FB 3.2 does trade slower then other versions due to no trading when trending up or trending down. There were several hedge orders that closed for profit.
Wackena
Hello Wackena !!
Do you can post your new statement of firebird after the big down of EURUSD, now EURUSD is at 1.3195
I will try it !
Linear Mode
