I actually think I just asked a dumb question.. i just noticed that the labtrend2 and 3 dots say up trend stop on them if you highlight them.. I assume you are using those to chase the trend.. please let me know if im off on that one..
philhm: I actually think I just asked a dumb question.. i just noticed that the labtrend2 and 3 dots say up trend stop on them if you highlight them.. I assume you are using those to chase the trend.. please let me know if im off on that one..
Yes, best stop (for me) are Labtrend2 dots, labtrend3 dots could be used by they're a little risky.
I've programmed an EA for LabTrend 1,2,3 + RSI. I'm still learning MQL so this is my first EA. Took me a month to program it, anyway here it is. Gurus out there will undoubtedly see many redundancies in my code. I've tried my best to follow the strategy laid out in this thread.
Firstly. Thanks to
Igorad for the indicators.
Linuxser for the Strategy that the EA is firmly based on.
You will need the complete set of indicators LabTrend1, 2, 3 and RSI in your expert/indicators folder for this EA to work.
I haven't tested it on all pairs, only USD/JPY(15TF,60TF), I'm using Northfinance broker. I need help with money management, as the EA is under performing because of MM.
I've programmed TP and SL into the EA.
The EA will open 1 trade at a time (per pair) and will close order when
1) LabTrend1 triggers opposite direction
2) Or if the above TP or SL has been met.
If you prefer the former exit strategy or you want to mix these two strategies, just enter '0' for TP or SL.
I need help finding a good balance for TP and SL.
The entry order waits for Labtrend1 trigger (end of bar only) then waits for Labtrend 2,3 and RSI to fall in place (end of bar only) then buys on the next bar if all indicator is still in place (first tick entry).
RiskL1 is the risk adjustment for LabTrend1. RiskL2 & RiskL3 are for LT2 and LT3 respectively
Things to improve.
1) Money Managment. Any ideas please let me know.
2) Hidden TP and SL.
3) Trailing Stop.
Thanks for all the knowledge, I never thought I would be able to program anything.