New EA based on the !xMeter - Page 5

EbenB · #41 (**permalink**) 05-23-2007, 06:30 PM

I have back tested the version which Michel (post 16) created. I have made the following observations:

Over a period of one year, the EA/ Indicator was never ever wrong. The signal was premature in many cases, yes, and is definately not a lagging indicator. Because of these excellant qualities, it would be worth your while to put your stoploss as far away as possible.

The signal could be used for exiting the trade as well. Again, it's not lagging, so one has ample time on your side to exit. This is one of those indicators that allows you to "let your profits run".

Thank you, FerruFx, this is one hell of an indicator. In the 6 years that I have been trading, I haven't seen the likes of it. Congratulations! And success with the development of the EA.

salohang · #42 (**permalink**) 05-23-2007, 06:34 PM

Quote:

Originally Posted by FerruFx

The EA will not trade on GBPJPY. This version is ONLY for EURUSD. Look at its name: !xMeter_EURvsUSD

Later this week, i will post others versions for others pairs.

FerruFx

Here is the gBP/JPY version

Dm_35 · #43 (**permalink**) 05-23-2007, 09:35 PM

Here is the USD/CHF version

et_phonehome_2 · #44 (**permalink**) 05-23-2007, 10:50 PM

Quote:

Originally Posted by FerruFx

Is the "AccountIsIBFXmini" parameter is false?

The trade is initialized only when the 2 values "high" AND "low" are reach.

Hope it helps.

FerruFx

Value is false..... Does it matter what TF its placed on?

FerruFx · #45 (**permalink**) 05-24-2007, 12:58 AM

Quote:

Originally Posted by et_phonehome_2

Does it matter what TF its placed on?

It doesn't matter

FerruFx · #46 (**permalink**) 05-24-2007, 12:59 AM

Thanks EbenB for your great comments!

And thanks Dm35 and Salohang.

salohang · #47 (**permalink**) 05-24-2007, 02:25 AM

7.0 2.0 is a little late to entry.
and I will try 6.8 / 2.2 soon ~ and try to catch more pips
Anyone have different setting experience?

et_phonehome_2 · #48 (**permalink**) 05-24-2007, 02:40 AM

Is MAXSPREAD the difference between the BID and ASK for the pair? I guess its the minimum number of PIPs the broker allows if I am not doing an INSTANT EXECUTION, is that correct?

salohang · #49 (**permalink**) 05-24-2007, 02:49 AM

Quote:

Originally Posted by et_phonehome_2

Is MAXSPREAD the difference between the BID and ASK for the pair? I guess its the minimum number of PIPs the broker allows if I am not doing an INSTANT EXECUTION, is that correct?

Example Maxspread = 2
if the spread > 2 the EA will not trade
it is used to protect you during news
so normally Eur/Usd will be set as 4 , when news come out the spread is 9
EA will not place any order

jeffreytp · #50 (**permalink**) 05-24-2007, 03:23 AM

Quote:

Originally Posted by FerruFx

Hi all,

I start this thread (with Rlinac agreement) about his great tool: the !xMeter.

!xMeter calculate the strength between different currencies. When I study the values on the picture below, it appears obvious that more the variation is large more it would be interesting to open a position.

So I decided to make an EA based on this invaluable indicator and which I come to present here.

This first version is only for EURUSD. If you like it, i would make the following versions: GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, EURJPY, EURGBP, EURCHF, EURAUD, GBPJPY, GBPCHF.

The EA details:

1. BUY or SELL when the High and Low levels are reach (eg. if EUR reach High && USD reach Low then BUY)

2. MagicNumber which allows to trade various pairs and several EA simultaneously. You can also delete EA and attach it back, it'll manage its own positions.

The settings:

1. Standard settings: TP, SL, Trailing, Lot size, Slippage

2. The Levels to open: HighLevel and LowLevel

3. MaxSpread for traders who don't want trade the news!!!

4. ManagedLotSize, Risk and MaxLot for increase (or decrease!) your lot size automaticaly with your balance size. If we have others versions (others pairs), i will put also PairsTraded for divide the risk between all pairs.

I tried it on live account yesterdayday. It works perfectly and the results are promissing (3 wins and 1 loss).

I notice some bugs (not in trading). If someone can test if the problem is only me:

1. When the EA is attached to the chart, it isn't possible to click on smiley face to change parameters. The same problem than the original !xMeter. I think it's because of the infinite loop for the Meter.

2. The Meter's values between demo and real are different. My broker have different server for demo and live. Maybe also different feed.

3. Backtests aren't possible. Why? I don't know. Maybe because the Meter doesn't refresh for backtest.

Notice that all these bugs doesn't make any problem for trading.

I am opened with all suggestions concerning of new features but let us try to keep the 1st spirit of this EA: the !xMeter.

Thanks for your feedback.

FerruFx

Do both of these go into the experts foler or one into the indicators folder?