Updated: 02/01/2007

I've attached the EA coded by DrGoodVibe
I've attached the indicators and template in the RAR file.

Here is the setup

Pair : GBP/JPY
TF : 4H (Can also use 1H)
Lot size : 0.01 (I run EA test on a live mini account)

Indicators: Moving Average : Simple - Period(50) - Apply to High
Moving Average : Simple - Period(50) - Apply to Close
Moving Average : Simple - Period(50) - Apply to Low
RSI: Period (45) Level (50%)

Trading Rules:

Buy

A trade is placed when the 1st new bar opens above the SMA(high) and the RSI is above 50%
If the RSI isn't above 50 the trade is only opened once it moves above 50

Sell

A trade is placed when the 1st new bar opens below the SMA(low) and the RSI is below 50%
If the RSI isn't below 50 the trade is only opened once it moves below 50

Exit Rules

1st Exit Rule Buy - Stop Loss (User Defined)
2nd Exit Rule Buy - Take Profit (User Defined)
3nd Exit Rule Buy - When the first bar open below SMA(close)

1st Exit Rule Sell - Stop Loss (User Defined)
2nd Exit Rule Sell - Take Profit (User Defined)
3nd Exit Rule Sell - When the first bar open above SMA(close)

Additional Features: (Nice to have)

Audio Alerts on open close positions
E-mail alert.

I've checked the rules in theory, backtests are OK-ish (they always are)
So far it look like it'll work on the GBP/JPY and USD/AUS. I haven't looked at other options.
********We now have the EA to start testing*******************

The reasoning behind the 3 SMA's set to the same period is to work on stable confirmation (10, 25 ,50 gave alot of false signals)

Okay that about's it, very simple yet it'll catch the main trends with basic confirmations. It won't make you a millionaire in a day but it'll hopefully put the bread and the butter on the table while we battle noisy markets.

Attached is the EA(DrGoodVibe version)
The template I am Using X.rar

The Source

Attached Files

	x.rar (587 Bytes, 191 views)
	TimeBombTim-V01.mq4 (9.4 KB, 142 views)

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Checked out your link at the bottom of your post. Could not finish reading it as the quote updates are just to much noise to put up with. I would seggest that you provide an option to turn it off so people can quitly read you site.

The Cockeyed Cowboy

Hi. I will get my guys to look in on the matter.

Thank you for bringing it to my attention. The website is at this stage just a introduction for my South African Clientele. I am hoping to make a full launch in Feb. So any comment and contributions are welcome.

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How did you backtest? If I put those indicators on a chart I see alot of top & bottom picking of the wrong sort. There are times when it catches a big move, but then you get blasted when the price whips around the MA. I think this sums it up http://mahalanobis.twoday.net/stories/3091420/

Hi I'm new kid to Fx here but good programmer in C++, Javabean, and Unix script and learning to do MT4. I will try to do this. I think I know how. Bye.

Hi Craig.

This strategy is one of many that I use on manual trading. Yes I agree that the last few days of data has been looking shaky. But remember that we are looking for confirmation and safety in trend. This strategy is not one that'll make you an overnight millionaire but it will provide profits.

What the aim with this EA will be, is to create a stable growth with less of a draw down on the long term. We are here to make money not loose it. I will have a look at the link later tonight. I "backtest" by visual inspection, then if I like what I see I live trade the strategy with mini accounts.

I will post weekly live results on this idea.

Thank you for your contribution

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Hi Shibeng.

Your contribution will be welcomed. Like I said - you will see that I am also learning if you look at the code. If you need any additional info please drop the bomb on me.

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I am currently sitting studying the 5min TF across various pairs.

If I am right I think that this Strategy can also be applied using the same Entry Rules as in Post 1.

Giving that the SMA's work on the High, Low and Close of the bars. I think we just need to smooth the RSI (maybe reduce the period from 50 to 14)

Exit Rule then be to take less pips during a trade but keep the Stop Loss

I will start testing it tonight.

Safe trading

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So this theory has been working good for you then? How much profit?
Thanks

I do about 500 pips per pair across 4 pairs per month - Average.

But I miss alot of trades due to the fact that I can't sit infront of the chart 24 hours.

That's why I am looking at an EA for this. I have analysed my trading techniques and decided to concentrate on this one due to the basic simple fact that I consider it less risky and constant. I however will only post weekly results from this year because I want fresh input and development.

I don't think this week will provide significant signals because everyone is still getting started with the year. That is why I am sitting checking the 5min TF's as well. I will also be looking into the 3MA EA to see if it can be adapted for this trading style.

I know this isn't a new idea, but I think that we are constantly searching for ways to make fast money that we have forgotten the basics of trading. So with this EA I wan't to return to the basics, how basic do you get than this.

The reasoning I have that the whole EA environment gives new traders the idea that they can sit back and do nothing and make money. If this was the case the world would have more traders than hungry people in Africa. Still it doesn't mean that EA's can't be profitable. I would just like an EA that doesn't wipe your account in a week, has a small but consistant growth.

I am human and have lost more trades due to greed than common sense. I am trying to control my emotions with this strategy as well.

That is why I have 3-4 confirmations of trade before I enter. If I made the call I would enter when the bar crosses the Close MA. When I started I did this with a 10,25,50 setup when the fast MA crossed - I was constantly whipped.

If you can - Try the strategy on a mini Live account. When we get the EA done we will first do some demo runs.

Keep the pips running like a river - constantly

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