Been working on a dependable scalping strategy. Will be testing live today.. Looks like it works fairly well.. (pictures attached) I hate waiting for bars =\. I need to figure out how to automate this.. The "Bands" above/below price are stress-price levels. good entry points. The "L" shaped (blue and red) are take-profit points. The take-profit point is only valid if the lower band has been reached. EURUSD: (GOOD ENTRY EXAMPLE) Touched the lower band and the LONG-TAKEPROFIT line is being printed. EURCAD: (BAD ENTRY EXAMPLE) If anyone is a master at MQL, don't be a stranger. All comments appreciated.
Here are a couple of links you might find useful, the first is a forum, the second is a list of MT4 custom indicators and such. When I was looking for a programmer I ended up finding a custom indicator which was similar to what I wanted and then contacted the author asking if he could modify it, might be worth a shot. StrategyBuilder forums MT4 list You might find this interesting as well.
Thanks for the links. I am good with C++/MQL but only when it comes to making indicators. When it comes to EA's, forget about it! Oh and.. it's not a bollinger band. It is a modified keltner channel. More specificly, moving average of keltner channel.
It's all the same language isn't it, MQL4? It might be worth waiting until MQL5 is released, apparently MT4 & 5 EA's aren't compatible. Bollinger bands, Donchian channels, Keltner channels, STARC bands......all look the same to me
It's 6AM EST and I have spent the last 10 hours trying to automate this strategy. Promising results. $1,000 initial deposit $1/per point (mini lot) 5 point take profit stop-loss 100 points
Stop loss 100 points? Symbol EURUSDm (Euro vs US Dollar) Parameters TakeProfit=5; StopLoss=300 Symbol USDJPYm (US Dollar vs Japanese Yen) Parameters TakeProfit=5; StopLoss=1000
Hi Guys, I don't trade Forex, but do scalp, this is a very interesting thread - thank you. Though isn't the stoploss way to big for profit target ? Your Talking min' 20 wins could be taken out by just one loss, but then you mention increasing the stoploss size 300 that's 60 wins gone with one loss or the bigger 1000 pip SL would be over 200 wins gone with one loss - Am I missing something ? Thanks, Andy
I think the EA is curve fit, the results are just for a week or two of this month, but like you say the win:lose would have to be high to compensate for that kind of risk:reward! I know my risk:reward is inverted most of the time but there's a limit