I have actually found another system that works well and have backtested as well as forward tested. It has a take profit of 25 and maximal drawdown of 225 but almost all tades are positive results and so the drawdown works out at 30% of overall profit which I think is good stats. If anyone's interested I can post here.

I have written a simple EA that follows the rules described in post #1 by mushy999.

Please back/forward test this EA and let us know the results.

Mushy, please do share your other strategy.

Regards,

Azmel.

VERSION UPDATES

0.1 - Initial Release.
0.2 - Added a Friday filter. Set FridayFilter=true and it won't trade on Fridays, set to false and it will.

Attached Files

GBPUSD Breakout v0.2.mq4 (1.7 KB, 101 views)

Azmel, many thanks. I'll post the other strategy tomorrow. I want to make sure I have all the correct rules posted and that I've checked everything out. Someone mentioned that brokers force you to take a minimum of 10 pips? Is that true even when slippage is 3 pips?

Ok, as I don't have the data from Alpari for that pair I tried it with EUR/USD and with different settings and the results are interesting:



If you reduce the stop loss then the drawdown is reduced, but so is the profit, so I guess with this basic setting at the moment you can choose your level of risk. The new version I will post soon takes into account an advanced MA instead of the High for so many periods and it outperforms much better.

I have also collected some stats that are very interesting and could be built into most of the EA's on this board and WILL improve the results of all EA's but I will post over the next few days.

Also, if you don't trade on Fridays that improves the results too.

Regards,

Im new here. Can anyone post the indicator and template

Yes, this is right. Some brokers like North Finance prohibits TP of less than 10, so this EA may not suitable for all brokers.

Thanks for posting the backtest result for EURUSD. Since an EA has been written, we could now optimise the TP and SL value for EURUSD and other pairs as well. Mushy (or anyone), could you post your Strategy Tester result for GBPUSD? I don't have a good backtester platform, so grateful is someone could contribute running the optimisation process.

Thanks and regards,

Azmel.

I have updated the EA on post #12. It now has a FridayFilter option on. Set it to true and it will skip trading on Fridays. Set it to false and it will trade as normal.

I added some small modofocations to the indicator such as increasing the lot size when the account balance goes up and also optimised for EUR/USD and the results are amazing.

Basically for EUR/USD the best combination seems to be 80 take profit and 1000 stop loss with a high of the last 65 periods (although the high periods didn't make that much of a difference). It took a $10,000 account to around $100,000 but the drawdown is huge. I have some other ideas to improve but want to understand why the drawdowns first. Also I guess you could trade in both directions too with a lowest low and maybe some kind of hedge to reduce the risk.... just some thoughts....

Hope you like.

Azmel, Not sure if my coding of the lot size increase is right.? Wasn't sure how to do this.

EUR/USD. Take profit 80, Stop loss 1000, High periods 65.

Regards,

Attached Images

st2.jpg (43.2 KB, 571 views)

Attached Files

EURUSD Breakout v0.2.mq4 (1.6 KB, 66 views)

the expert only buy , its doesn't enter any sell !!

what I would suggest is that you add more intelligence to the expert for example
now the expert open a trade whenever it close a trade which is fine and is good for a trend following idea, but why not accept a loss of lets say 200 pips and when a loss happens , this means there is a trend change so you switch from only buy to only sell.
meaning you remember the last trade and if that trade is a winning trade you keep trading on the same direction , if it was a losing trade you swicth