- 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.
I am using it on my live account, but read http://www.stevehopwoodforex.com/phpBB3 ... 862#p95862 for how I am doing so.
Intro
You can read how this EA came about at http://www.stevehopwoodforex.com/phpBB3 ... 454#p94454 The ea is named after the system designer. The trading system could hardly be easier:
The attached template will set up your chart for you; Williams is overlaid onto OsMA and saves a bit of real estate. All the usual stuff is included, so read the attached Shell User Guide if you do not understand the inputs. Inputs for the indi's used by the system are in the 'Specific Gary Inputs' section. I suggest you just go OOTB for now until you understand what is going on a little better. This is an H4 trading system and it is not a trading trollope, so do not expect a gazillion trades.Indicators:
Triple MA, Williams % Range, OsMA
Buy Signal:
If price action breaks above the blue solid moving average line; and
Williams % Range moves above the –20 line; and
OsMA moves above the zero line.
Buy Exit Signal:
If price action breaks below the red dotted moving average line.
Sell Signal:
If price action breaks below the blue solid moving average line; and
Williams % Range moves below the –80 line; and
OsMA moves below the zero line.
Sell Exit Signal:
If price action breaks above the green dotted moving average line.
What I have coded
Note: I have coded what I understand from the description provided to me by beorne. I might have misunderstood elements, so be prepared for corrections. Taking a buy trade as an example, here is what I have coded:
- the low of the previous candle was below the solid blue line.
- the market is now above the solid blue line
- Williams is > -20
- OsMA is > 0
Intuition
Gary has stated that he uses his own intuition when trading. Intuition cannot be coded into an ea. He has offered to share his intuitive thoughts to see what can be coded. It could be that the ea is best used to send an alert when trading conditions are met (SendAlertNotTrade input) and traders can then decide for themselves whether to pull the trigger or not. We shall see.
Update on 27th July: please read this post at http://www.stevehopwoodforex.com/phpBB3 ... 584#p96584 and the one that follows it.
Live trade example
http://www.stevehopwoodforex.com/phpBB3 ... 970#p95970
Conclusion
Try it out and see if it works for you.
Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=254
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p?f=6&t=78 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 http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79, 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: http://www.stevehopwoodforex.com/phpBB3 ... f=5&t=3427
- Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
- 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. http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79