Hello programmers,
After having read Rifo’s Blessing system with great interest, I was very happy finding the 5 EA’s that had been programmed around it.
However after back testing the EA’s I saw that this system can make moderate profits and large collapses .
The risk with these martingale systems (also like Terminator and Checkmate) is that you invest minimally in the market direction and exponentially against the market direction in the hope that the turn comes before the collapse.
Therefore it needs very deep pockets and gives low returns (as long that they exist).
I think one must do exactly the opposite, which is:
“Cut losses early and let profits expand exponentially”
Therefore I have combined a few things from literature and myself to come up with a system with a small stop all the time so that you can never lose your account.
Unfortunately I cannot program MT4 myself so I hope that with the help of experienced MT4 programmers we can use this system to our mutual benefit:
Use the 4 Hr chart
Long positions
Buy one unit when the RSI (4) has crossed the 25 value upwards and when the Stochastics (8,3,3) shows a bullish cross and when the price reaches a selectable pip distance from the 5 EMA of lows (initially 0).
Add n (selectable) times units to the position at a selectable (20 pips initially) intervals above the entry point. This will be done with m (selectable) times the last number of units.
Use a selectable stop (start with initial 50 pips).
Give the possibility to give the stop a selectable trailing value.
All positions are closed when a selectable Target price is reached (often 150 pips above entry). The latter is to make optimal use of peaks.
Give the possibility to start a short position at the Target price or at the Stop.
After the position is closed re-entry can be started manually.
Short positions 70 value downwards
Sell one unit when the RSI (4) has crossed the 70 value downwards and when the Stochastics (8,3,3) shows a bearish cross and when the price reaches a selectable pip distance from the 5 EMA of highs (initially 0).
Add n (selectable) times units to the position at a selectable (20 pips initially) intervals below the entry point. This will be done with m (selectable) times the last number of units.
Use a selectable stop (start with initial 50 pips).
Give the possibility to give the stop a selectable trailing value.
All positions are closed when a selectable Target price is reached (often 150 pips below entry). The latter is to make optimal use of peaks.
Give the possibility to start a long position at the Target price or at the Stop.
After the position is closed re-entry can be started manually.
Use a risk of 1% to 5% of the account value = $ value of 50 pips.
Now and then reset the Stop/Target values in case of open profit but not too often.
This system has made great results (I only have experience with n=0 so far) in back trading the GBPUSD but in forward trading I usually miss the right entry and close points because I don’t like to be glued to the computer all day.
So this system must be ideal for an EA for great profits but I am not a programmer.
Any volunteers? Please, but give me an EA
Any questions, my email is
ceesintveld@hotmail.com
Cees Intveld The Netherlands
... but they work! 
Blessing system
alo
Linear Mode
