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Detailed statement for the Week 18 to 22 december.
The EA has no losses till now. The Interesting thing is the more profit and the more margin the EA gets, the more trades it opens. so the number of trades that are open and the profit is more or less equal all the time or its using the gained resource to double it up for more trades ahead.
The open trade would eventually close on closeDays settings.
In the present settings, im not sure, but if the EA is allowed to run for 24/7 and subsequent profit is taken out, it could be very profittable or some changes to only open trades with set amount of margin available.
All in all a very profitable concept on hedeging with firebird..we would have to watch for the whole month how it goes.
The floating loss is more than the closed profits.
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
I downloaded this file but am having trouble compiling it. I get the following errors...
'TimeCurrent' - function is not defined C:\Program Files\MetaTrader 4-3\experts\Firebird v3.2.mq4 (181, 20)
'TimeLocal' - function is not defined C:\Program Files\MetaTrader 4-3\experts\Firebird v3.2.mq4 (418, 22)
'TimeCurrent' - function is not defined C:\Program Files\MetaTrader 4-3\experts\Firebird v3.2.mq4 (638, 21)
'TimeCurrent' - function is not defined C:\Program Files\MetaTrader 4-3\experts\Firebird v3.2.mq4 (641, 21)
The term TimeCurrent() & TimeLocal() are new for MT4 and are to replace obsoleted terms CurTime() and LocalTime(). For the present time, CurTime() & LocalTime() terms work with older and newest versions of MT4. Soon, I expect only TimeCurrent() & TimeLocal() will be the sole terms used.
Two possible fixes.
1. You are using an older version of MT4 platform. Upgrade to build 201.
or
2. Open EA in MetaEditor. Find all occurences of TimeCurrent() & TimeLocal() and replace them with older terms CurTime() & LocalTimel(). Then click Compile in upper menu bar.
Linear Mode
