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Excellent work on this EA. I have an idea for a spinoff from this EA.
What about flipping the position on the pipstep instead of going against the trend? For example, if the EA opens a short at 1.2800 (Short .10 Lots), then the price goes up o 1.2810, we buy double the first position (Buy .20 Lots). If it goes back down to 1.2800, we short, but double the second position (Short .40 Lots). We take a fix profit at which time all positions are closed.
Lets say we make it $20 profit. The first positions has to move down by 22 pips with a 2 pip spread. The second position has to move 17 pips up, the third position has to move down by 15, and so fourth. The more positions open, the smaller the move has to be.
The nice thing about this strategy is that the margin is used up at a fib progression, and not the martingale progression because the positions hedge against each other. You make no big swings, but just a nice steady consistant profit.
Another idea is to pyramid in one direction with the same lots until a profit level is reached. Let's say we want $100. We buy at 1.2800, we buy again at 1.2810, 1.2820, and 1.2830. At 1.2840 we hit $100. However, lt's say it reverses at 1.2830. When the profit level of the first positions is 0 which would be at 1.2815, a sell of .20 lots is made and pyramids in the opposite direction.
Oh, I wanted to add that all these ideas work fantasticly in my head.
- Added new "TargetEquityToCloseAndReset" numeric setting per David's suggestion - this closes all open orders and starts the cycles over on the next signal(s).
- Added new "UseSMATrendFilter" as a safeguard to ensure buy/sell signals are taken when a 3-SMA filter is properly aligned.
- Exposed timeframes and bar-periods for RSX and 3-SMA TrendFilter
Updated EA is in zip on first page. Please test.
I'm clocking out for a few days to enjoy the holidays. Everyone have a safe & happy holiday, pray for peace, and most of all....be Bodaceous!!
Thank you for this present Bluto and all of you working on this EA
This should work well. enter your equity target and it closes and stops trading when reached.
when you get a chance you could tweek the equity thing to go by a % and when reached it closes orders and keeps trading using the new balance as the starting point for next run of trades.
Excellent work on this EA. I have an idea for a spinoff from this EA.
What about flipping the position on the pipstep instead of going against the trend? For example, if the EA opens a short at 1.2800 (Short .10 Lots), then the price goes up o 1.2810, we buy double the first position (Buy .20 Lots). If it goes back down to 1.2800, we short, but double the second position (Short .40 Lots). We take a fix profit at which time all positions are closed.
Lets say we make it $20 profit. The first positions has to move down by 22 pips with a 2 pip spread. The second position has to move 17 pips up, the third position has to move down by 15, and so fourth. The more positions open, the smaller the move has to be.
The nice thing about this strategy is that the margin is used up at a fib progression, and not the martingale progression because the positions hedge against each other. You make no big swings, but just a nice steady consistant profit.
Another idea is to pyramid in one direction with the same lots until a profit level is reached. Let's say we want $100. We buy at 1.2800, we buy again at 1.2810, 1.2820, and 1.2830. At 1.2840 we hit $100. However, lt's say it reverses at 1.2830. When the profit level of the first positions is 0 which would be at 1.2815, a sell of .20 lots is made and pyramids in the opposite direction.
Oh, I wanted to add that all these ideas work fantasticly in my head.
If you want to make 20 Pips profit and your going to apply the positions as in your example, at 10 Pips steps, your down 10 Pips on each order when you open the new step this have to be added in with your profit target. If you opened short 1 lot at 1.2800 and it went up 10 pips and you went long 2 lots at 1.2810 and say it went back to 1.2800 the first lot would be at negative the bid/ask spread and the other 2 would be negative the step and the spread. So each time the direction flipped it would increase the negative were you will be needing a larger profit target not a smaller one. Also if you use a fib progression your not dealing with doubleing the positions which would require even a larger targets to get you out.
If you want to make 20 Pips profit and your going to apply the positions as in your example, at 10 Pips steps, your down 10 Pips on each order when you open the new step this have to be added in with your profit target. If you opened short 1 lot at 1.2800 and it went up 10 pips and you went long 2 lots at 1.2810 and say it went back to 1.2800 the first lot would be at negative the bid/ask spread and the other 2 would be negative the step and the spread. So each time the direction flipped it would increase the negative were you will be needing a larger profit target not a smaller one. Also if you use a fib progression your not dealing with doubleing the positions which would require even a larger targets to get you out.
Could be wrong
The Cockeyed Cowboy
Please reread my post. I didn't say 20 pip profit, I said $20 profit.
Also, when doubling in the opposite direction, the progression is fib, not matingale because when you open in the opposite direction, you get the margin back from the hedge positions. 1st positions uses 1 lot of margin. 2nd position uses 1 lot, 3rd uses 3, 4th uses 5, etc etc.
This should work well. enter your equity target and it closes and stops trading when reached.
when you get a chance you could tweek the equity thing to go by a % and when reached it closes orders and keeps trading using the new balance as the starting point for next run of trades.
You can this and use TargetEquityToCloseAndReset as a percentage :
Please reread my post. I didn't say 20 pip profit, I said $20 profit.
Also, when doubling in the opposite direction, the progression is fib, not matingale because when you open in the opposite direction, you get the margin back from the hedge positions. 1st positions uses 1 lot of margin. 2nd position uses 1 lot, 3rd uses 3, 4th uses 5, etc etc.
20$ in mini lots (.1 lot) would be 20 pip move they are the same.
And may be you should reread my post nothing in it say anything about margin. It talks about unrealized losses that have to be made up. Look at it again for the first time.
This should work well. enter your equity target and it closes and stops trading when reached.
when you get a chance you could tweek the equity thing to go by a % and when reached it closes orders and keeps trading using the new balance as the starting point for next run of trades.
the latest version has bug? cannot run backtest... error with equity
Not mine...I haven't posted a version yet. I was going to send the changes to Bluto privately so he can maintain control. I hate it when there are 25.000 versions of the same EA floating around.
Linear Mode
