pramod's trend trading EA

[SteveHopwood]

SERIOUS WARNING

• Most Forex traders lose all their money.
• Using the robot posted here in trading Forex does not guarantee success.
• Trading this robot could lead to serious financial loss.
• Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
• This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
• At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
• To trade this robot, you have to understand:
  
  • How to use EA's. Remember to set IsGlobalPrimeOrECNCriminal to 'true' if your crim insists on two-stage order sending.
    
    THIS IS AN EXPERIMENTAL EA NOT YET BEING USED ON OUR LIVE ACCOUNTS
    
    Introduction
    pramodfxtrader sent me details of his trading system based on the attached Trendline indi last week. This Crap Custom Abortion gave up its secrets easily, and so I have accommodated Pramod's request that I code and share an EA to help develop the system.
    
    Initially, I assumed this was a joke and still have some severe doubts that this can lead anywhere, but the fact is that the ea made some profits whilst chuntering away on my coding demo - to my utter blank astonishment.
    
    Here is how the CCA is traded:
    
    • pairs: the majors. Time frame: any. I developed the ea on the M15 (EU) and M5 (AU - yes, not one of the majors I know, but who cares?)
    • colour is dodger blue and flat then rises: candle closes above the line: buy.
    • colour is red and flat then falls: candle closes below the line: sell.
    
    Surely nothing this idiotic can possible succeed can it? Dammit, I only coded the ridiculous thingy because my occd was itching and I am conscious of a shortage of new toys lately.
    
    Pramod has a useful wrinkle, in that instead of setting a stop loss, use hedging instead. So, if a buy trade is taken without a stop loss and there is a sell signal, then take the sell. To be honest, I misunderstood the info Pramod sent me about hedging and so have not coded what he wanted. Here is how hedging works for now, and taking a buy as an example (vice versa for a sell):
    
    • buy trade triggers.
    • buy trade goes into the hole and there is a sell signal, so sell is taken.
    • one of the hedged pairs hits tp and the whole thingy continues as though the outstanding trade were the original. There are never more than two trades open.
    
    Now, unless you have the imagination and intellect of the mentally deranged fruit fly I described in another thread earlier, you will instantly spot the flaw in all this. If the market continues to move against the buy trade, then successive sells will build up account balance whilst the losing buy eats into your equity. If you trade a la Bob (tiny lot sizes and massive tolerance to adverse moves) you are ok. The 3% risk per trade guys will be stuffed but that is your problem not mine; I suggest not playing with this EA.
    
    The relevant input is HedgingAllowed. If this is set to 'true' then the ea will automatically cancel your stop loss and act as programmed for hedging. Traders in the US cannot use this feature.
    
    Trendline.mq4 goes in your platform's indi folder, assuming you can find it in under 6 hours now that those morons at Crappertrader have hidden it so successfully - Pramod you need it too. The version you were daft enough to send me had a couple of functions missing so it would not even compile; I have made a rough-and-ready fix for that. The rest of you, don't even consider mucking around with the inputs; you will bugger thingies up. You do not need the CCA on your charts, but it will help you see what is happening if you do.
    
    The EA looks for a trade only at the open of a new candle, so the chart colour and value displays are for the third, second and previous candle close. Ignore them if you do not understand them; they are for my benefit as a coder, not yours as a trader.
    
    The usual stuff
    All the usual stuff is included, so study the attached Shell User Guide for any inputs that you do not understand and which I have not described in the next section.
    
    Inputs
    Can't be bothered to explain them. Leave them alone and go ootb if you do not understand anything.
    
    Conclusion
    Play around, mess with the inputs, try enabling libcss etc and disabling hedging. See if you can find a group of settings that work for you.
    
    Do I think this EA has a future? Ridiculous idea. Fact is, it was not wiped out the instant it hit a demo and made some profits instead. We shall see.
    
    
    
    Matters of general interest
    Go here to download and run the script that will fill your platform's missing chart history: Script to (ATTEMPT) Force Download of historical data
    Read this post:
    The Old Beast, How MurphyMan made this a successful trading Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
    
    Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179
    
    EA coding
    I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at My shell EA code, at the bottom of the post.
    
    Useful utilities/EA's/scripts
    
    • MaryJane has posted a fabulous utility to allow us to resize EA input windows: MaryJane's resizer update
    • Multi purpose trade manager: MPTM's new home
    • Account equity analyser: http://www.forexfactory.com/showthread. ... ost4709098, which includes a template for both USD and the Euro.
    • Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthread. ... ost3830610
    • My shell EA – the code I use to produce EA's so quickly. My shell EA code

[pramodfxtrader]

Thanks sir,

The EA is great.

I think one of the thing I included in the system of hedge is not fully covered in the EA i.e.

"6) Hedging – If there is an opposite signal by Trendline indi & current trade is in any pips profit. It will be closed & take opposite fresh trade with initial lot size. But if current trade is in any pips loss & opposite signal occurs then current trade will be continuing & also opposite trade will be opened (hedged) with xx multiplier lots. Every opposite trade will be opened (by above entry rules) until breakeven of xx pips profit which will be user defined (1 pip default). "

Like you did before in your EA " Moving avarage trend-trading auto trading robot by Steve Hopwood". take every signal with multiple lots until breakeven. Difference is signal is trendline instead of moving avarage, breakeven profit is user define & opposite signal entry/exit instead of recross of ma.



Thanks

[trader689]

any updates on this EA is anybody testing

[banzak]

Hi All,

I'm testing the version above now for 2 month with good results and I updated the code to V6.xx.
The version now does the Lot-Multiplier for Hedge-Trades and I'm still working to make the EA
Multi-Currency, so you don't have to attach for each currency an EA.

I think this needs still some time cause close to 3000 lines of code is quiet a lot.

If somebody have experience with MultiCurrency, help is appreciated.

Best regards,
Banzak

Pramod's Trend Trading EA V1.01.mq4

[trader689]

thanks for the work on this banzak sounds good keep us posted

edit: have pm'ed you, please check your messages