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Hi I'm newbie. Rightnow foward testing MagicRSI4 on demo mini acc since 11.00 am GMT. Using default setting TF H1, usdjpy, gbpusd,eurusd and usdchf chart. Lots 0.1, ItakeProfit 200, sTakeProfit 200. But never open trade until now . I'm wonder why?
Currently this EA is only Optimized for the;
EURUSD H4.
Other pairs will for sure not work well unless they are also optimized, which helping optimizing them would be very helpful.
For now please only use this version posted here. (MagicRSI 3)
*MagicRSI 3
Optimized currently for;
EURUSD H4
USDJPY H4 (Still needs some work)
For ppl that know RSI and Stoch pretty good i would recommend Optimizing; (MagicRSI 4).
MagicRSI 4 might be the safer one if someone can get the Stoch and RSI to work well with eachother.
PS. The Take Profit is set to "2000" since "Profit" code will be closing out the trade.
Example of Profit code;
1 Lot = $10 per pip.
Profit = 90 ($90 or 9 pips to close on profit.)
If adjusted;
0.1 lot = $1 per pip
Profit = 9 ($9 or 9 pips to close on profit.)
For now i know its a little confusing but im working on it to make it easier.
Thanks!
Spider~
PS. For "MagicRSI 3" i used the "Phoenix EA" Preferred Settings code to hard code mutiple Currency Pairs with different settings. This is cause all pairs will have very different settings.
Last edited by Spider4896; 11-20-2006 at 04:55 PM.
Hi I'm newbie. Rightnow foward testing MagicRSI4 on demo mini acc since 11.00 am GMT. Using default setting TF H1, usdjpy, gbpusd,eurusd and usdchf chart. Lots 0.1, ItakeProfit 200, sTakeProfit 200. But never open trade until now . I'm wonder why?
Hi Alpin,
MagicRSI 4 is not setup currently for anything else other than the EURUSD 4H TF. It still needs alot of work to get all the settings right since it involves both Stoch and RSI requirments to open trades.
Please refer to posting #25 for more understanding of the current code.
I added a simple MoneyManagement routine to MagicRSI 3. I optimized settings for eurusd and backtested Aug 1 to Nov 20. New settings on top of results file attached.
Code:
extern bool UseMM = 1; // 1 = true & 0 = false
extern double Risk = 15; // percent of account equity to risk per trade
// ====== Money Management of Lot Size routine ======
if(UseMM) {Lots=AccountEquity()* Risk/100/1000;
if( Lots>0.1) Lots=NormalizeDouble(Lots,1); else Lots=NormalizeDouble(Lots,2);}
Thanks for the update on the MM and the backtest run of the MagicRSI 4 Wackena.
MagicRSI 4 is still a very touchy one that i haven't got to yet but i will over the holiday break.
Right now though i have been going over the current MagicRSI 3 and trying to find more ways to squeeze profit and better calls out of it. Me and some friends have a few ideas on some updates that we will try tonight but nothing drastic since we want to stay near the origin of the code base.
At this time i have just one main demo account testing out 3 different kinds of MagicRSI Mods. So far it shows good results although this week will be very hard to see since the market is very quiet. I also have the MagicRSI 3 that i posted on my live account which has made 2 trades so far. One profitable and one still in float which was opened up today. We will see how things go over the next couple weeks.
. I'm wonder why?
Linear Mode
