Suggestion Coder needed to turn amazing Indicator to EA

I've come across an amazing and simple indicator the provides FX signals for 28 pairs. The indicator graphically produces buy or sell signals when placed on any chart and time frame and also provides take profit levels - however no stop loss is provided. I have found the signals to be overall very good.

We just need a simple EA that opens a trade when the signals are produced. As far as the Stop Loss, we can approach this in several ways. One way would be to simply make it as a risk reward ratio in relation to the take profit level provided. Another option would simply be to simply not have any fixed Stop Loss where the EA would close the trade when the signal disappears. Another option that would definitely be nice to have is a global closure of orders once desired basket profit is reached. One strange thing I have noticed however is that sometimes a signal will continue to show for some time even after the take profit level it gives is reached.

Have a play with the indicator and you will soon see that the signals are quite good.

Thanks in advance for anyone that can help with coding this into an EA!

 

Thanks for your response - I will keep you in mind. Was hoping to work on this in a group where we could get input from differing points of view and all could benefit from the result.

Thx

 

ft for 4 months or more, post the results and everyone will be interested

 

So True! This is a hard one to forward test as you'd need to be at your screen 24/5 It's not like an oscillator that you can go back in time with. Anyway - understand where your coming from....thx

 

here you go, v1.0

 

Awesome, thank you very much! Will get this on demo and check it out....

 

you need to attach the EA to each Chart

 

Oh.....ok, so need to attach to 28 charts..... ?

 

Ok, I see a few things initially: When I load the EA on all 28 charts first thing I see is a notification saying it could not generate a magic number - please disable auto and set manually (see screenshot attached). I cannot find any input to set the magic manually? So I just set it to false. Now I get one trade and many pairs showing that there is a signal to trade but no trade opened. I assume this has to do with the magic number situation?

Next I see an input for "close opposite" I assume in the situation of this indicator that this means "close when signal disappears"?
Next the EA needs to have an option to set stop loss the same amount of pips away as the take profit. Like a risk reward of 1:1, or perhaps a way to set whatever RR you want - perhaps 2:1.
There will be other things but to start if we can get these sorted out to start, it would be great - thanks for your efforts!

 

It always said spread too high. When I change the spread in the setting, it doesn't open any position.

 

I changed the spread to 100 and as I mentioned in my previous post, I did get one trade to open - but I think we still have some problem with magic number conflict because there are many signals but only one opened a trade for me

 

The signals produced by this indicator are longer term signals. What I have found is that many times if I enter the signals that are showing during the Asian session and hold them until late in the US session I often have a profitable basket.

 

Ideally we are looking for an EA that you simply place on one chart which trades all the signals from there. Would be good if the EA would only trade fresh signals so that you get in from the beginning - then once you close the trade either by take profit or break-even pips, no new trades will open on that pair until a new signal is produced.
Take profit levels set by the indicator - stop loss by choices: by RR (with option of break-even after x pips profit), by fixed amount input (with option of break-even pips after x pips profit) or by basket profit.

I'm sure others will have other ideas which are welcome to squeeze max pips out of this.....

 

If indicator good for long term trend hence will need also good capital with high margin level
how about stop loss or strategy to manage the risk, I think indicator sometime occured false signal

 

I find that you just trade small lots and you'll be fine. It may not seem exciting but the take profit levels are often big and often reached - so even small lots add up well. I find most signals to be good - of course no indicator can give 100%. That's why I'm very interested to create an EA so that strict rules can be applied; example and RR like 1 to 1 plus break even pips. I normally find the best time to enter the signals is late Asian session before London opens. Usually toward the end of the US session the basket brings nice profits.

 

I suggest using a universal manager from the Steve Hopwood forum. Enter manually. The manager assigns anything, such as SL to every pair, profit basket, lock basket profit ...

 

Thanks for the suggestion; I have done this in the past and it does work - just hoping for full automation

 

Please write GMT time for entering and how you have a manager set up. 5 minutes work is worth the profit.

 

I certainly will do this: Just busy with work at present but will write it out for you in the next couple hours: Thanks!

 

Ok, got a few minutes to get this written:
Here are my initial thoughts on how the EA should work:

1) EA is placed on one chart to open and manage all trades
2) Perhaps there should be a variable on opening time, but for now it seems that 08:00 GMT would be good.
3) EA would open trades and set T/P levels indicated
4) EA would have a variable for RR ratio to set the stop loss but initially I would think 1 to 1 stop loss to take profit ratio.
5) EA would also have a basket close option based on $ or pips triggering global closer of all trades
6) EA would have a stop loss to break even function for each trade with user defined variables (example when a trade is up say 20 pips, break even is set at 10 pips - ie stoploss)

I think this would be great for starters - I doubt much more is needed.

Let me know if any clarifications are needed.... Thanks

 

Was just thinking that another close option would be to simply close the trade when the signal disappears.