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the problem is it closes any open trades when a new signal comes .
i need it not to do that ....
i think its a quick fix but then again i dont know anything about coding EAs...
thank you in advanced .
p.s. will share the idea and setting , of why i need this done to whoever can do it ... and i think i will be very lucrative...
Thanks for clicking! I'm a new trader, as you can probably guess from my handle. I'm not looking for any FOREX holy grail or anything..I know that not every trade is going to be profitable..and hell...most probably aren't. I just have questions for you senior members if you can spare a few minutes to enlighten me. The set up that I have decided to proceed with (on a demo account at first) is this:
1 hour chart, with Heinkin Ashi and alligator. Alligator acting as the filter. I figure that's so simple that I don't need to post a picture but if I do just let me know. I am going to be using EUR/USD exclusively as I prescribe to the theory that traders who "get to know" one specific currency pair do better over time.
My question is: I see all kinds of options for Stop Loss and Take profit points but don't have a clue which one is profitable. At first I was thinking of using a stop loss of 20 and a take profit of 25 but that seems way too narrow based on this week's volatility. Can anyone help me? I'm pretty sure that this simple set up can be profitable I just need to know optimal SL and TP parameters.
I considered using the heinkin ashi as my stop loss..but I don't know if that's viable or not. What i mean is...if the alligator is in buy mode and a buy signal comes up on the HA then I buy..and I close if the HA signal reverts to sell by the end of the hour. The problem with that is that I could potentially lose 100 pips that way...but I could also make 100 pips..so im sooooo confused.
Can someone help me? Let's get a good discussion started here...I'm sure someone else is in the same boat.
I have an EA that does about the same thing. I closes positions everytime the color changes. I would be happy to see if anyone can work this out.
Quote:
Originally Posted by SteveSouders
Hi all, I haven't posted in a while but I love this Forex thing. I have an EA based on the Heiken Ashi Smoothed Indicator. I paid Nick Bilack to write for me and he gave me full rights to the program. Only problem is it still doesn't trade exactly the way I would like and he is now too busy with his own EA quest to continue helping me develop this one, but I do believe that it has a lot of potential. Hopefully one of you expert coders out there could help improve on this and make it a Holy Grail EA It works in that it opens trades based on the color change or on the line cross (your choice), It gives a better result trading based on the color change. So heres the problem: since HAS repaints it will open a trade on the color change and it is ready to ride the trend, but then the color may change immediately after or sometime later for that matter and it will not ALWAYS immediately close that order and reopen a new trade in the opposite direction and thus will continue with a losing trade in the wrong direction until it hits the stoploss. So can one of you experts fix this???? I have had other suggest to have it place order on the second bar to prevent whipsaw, But the problem still remains if it then again repaints then I'm still in the same problem and stuck in a losing trade. Hopefully someone can come up with a way to have the EA continually keep checking the signal every so many minutes, maybe with a setting that you can set how many minutes you want it to wait before rechecking the signal so it could be varied depending on which time frame your trading. That might work or preferably I would like to have it check on every tick, but it just doesnt work the way it is because if it doesnt reverse on the color change your stuck in a losing trade, I would rather it close the order at a small loss and reverse with the color change. My goal is to run the EA on long term trades with large PIP Gains like Hourly, 4Hour or Daily chart to prevent whipsaw and pick up those large gains. So lets make this work and I hereby share this EA with all my Forex friends.
Using the high TP SL and TS it basically is shutting them off so it merely trades based on the color trade, the HAS settings smoothes it out just a hair yet keeps it accurate, and the True trades on the color change instead of the line cross of the HAS indicator and the price. So there we go, I really think this can work and I am anxious to see if someone can help me with this but as I said it needs the fix that I explained above.
offers 4 free indicators and 2 free templates that show HA along the bottom of the template. One template shows 4 timeframes and the other template shows 8 timeframes.
I'm not looking for any FOREX holy grail or anything..I know that not every trade is going to be profitable..and hell...most probably aren't. I just have questions for you senior members if you can spare a few minutes to enlighten me. The set up that I have decided to proceed with (on a demo account at first) is this:
Linear Mode
