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MT4 EA creates, adjusts & uses trend lines to place & modify buy & sell stop orders. EA will place trades when triangle, wedge or parallel channel is formed by trendlines. Developed on IBFX bid based charts. Updates (bug fixes & modifications) posted to following link: Source Site
Place "ZZ SR TL Indicator" in "Indicators" folder, & place "ZZ SR TL" in "Experts" folder. Download zipfile at following link: Zip File Download
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
Last edited by fxid10t; 01-03-2006 at 01:40 AM.
Reason: TakeProfit calculation fix
The indicator in your zip file places support/resistance lines in black, but it doesn't place trend lines as you have shown in your pictures
this is correct. the indicator does not create and position the Golden trendlines, the EA does. Keep in mind, an EA executes the code when a new tick is sent to the client terminal, so, the trendlines will not be created until your broker enables trading for the new week.
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
This is good fxid10t, but can you also update the indicator to dynamicly draw these trendlines/patterns?
i'm sure what you ask is possible, however it is above my level of skill. the indicator is an adaptation of ZigZag, so perhaps someone (if not already available) can code a way to take the zig zag points and link them together to form a trendline in the indicator...
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
Looks like it should do a great job. One small error, it needs to delete the unused order after one side has been filled.
The ea will hold the other order open for as long as the trendlines form a triangle, wedge, or parallel channel in case of false breakouts... NFP Friday's come to mind... When the trendlines no longer form one of the three patterns, ie, the trendlines widen (from left to right), the ea will delete open stop orders.
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
Statement: 234040 - S-R Development, C:\Documents and Settings\Todd\Desktop\ZZ SR TL.htm
Net profit 73.84 Initial deposit 1000.00
Gross profit 561.21 Interest earned -1.79
Gross loss 485.58 Commission paid 0.00
Total number of trades 90 Percentage profitable 61.1%
Total number of pips 153 Average pips per trade 1
Number of winning trades 55 Number of losing trades 35
Average winning trade 10.20 Average losing trade 13.87
Average winning pips 24 Average losing pips 34
Return ( 13 days) 7.4% Maximum drawdown 22.2%
__________________ "You should not have a favourite weapon. To become over-familiar with one weapon is as much a fault as not knowing it sufficiently well. You should not copy others, but use weapons which you can handle properly. It is bad for commanders and troopers to have likes and dislikes. These are things you must learn thoroughly." Miyamoto Musashi
Thanks
When the trendlines no longer form one of the three patterns, ie, the trendlines widen (from left to right), the ea will delete open stop orders.
eurousd & gbpusd
Linear Mode
