Thread: Breakout BSL EA

Originally Posted by wannaberich

Ok so it looks like since i have not set the take profit part, my order will close at close time only

closing at close time only seems a bit dangerous to me bcos what if the positions turns against you at the close of time

rather there should be a scheme of locking in profit to consolidate the position when in profit.

Although i didnt see such scenerios in the backtest but i really wondered how some positions held on for days. Really scary but still wonderful.

I guess i'm experiencing similar complaints of the EA not taking trades on the FXDD platform.

Its been this way for over a month plus.

Funyoo could you pls do something about this problem or is the time setting the problem?

I'm GMT+1 Nigeria and trade with FXDD.

Thanks

Hi
I've been trying to install this EA but is not working. Could any of you guys let me know how to install please
I appreciate your time and advice
Regards

hi,
anyone has tried to do backtesting? i tried but error comes out as "order send error 131" also which tf should i use?
thank you

Hi Funyoo,

I assume since this is a breakout EA, it is possible to use it for other pairs, like the majors. Am I right?

If so, pls what are the main parameters you use for optimizing this EA. I want to give a shot for pairs such as Gbp/Usd, Usd/Chf, Eur/Jpy, Aud/Usd & Usd/Chf.

Thanks.

Piper.

Originally Posted by funyoo

Hi Pied Piper,

You need first to optimize the "Entry Settings" (StartHour, EndHour, MinRange, MaxRange, ...), then the TP/SL. You can also reverse the system.

Thanks so much for the swift reply Funyoo.

Attached are some backtests I made on this EA which are very similar to yours but with slight differences in parameters.
I will also post any findings I make.

Bless you!

Hi Funyoo,
when you have the time, could you adapt this to work on indices?
Regards

Set EA so that it can trade multiple hours per day in blocks.

Block 1 Start Time and End Time --> Calculate Range and set orders (Enable/Disable)
Block 2 Start Time and End Time --> Calcuate Range and set orders (Enable/Disable)
Block 3 Start Time and End Time --> Calcuate Range and set orders (Enable/Disable)
Block 4 Start Time and End Time --> Calcuate Range and set orders (Enable/Disable)

Each Block period is independant of the previous one and each block period has it's own order management.

Trade management as per % of Range, rounded to the nearest round number to prevent order errors. Use minimum SL size as default if % of Range is smaller than minimum as allowed by broker.

Trailing SL based on (Y) x ATR (X) giving a dynamic Trailing SL based on Chart Characteristics at the time of trading. As ATR (X) increases or decreases then Trailing SL size is adjusted accordingly to the nearest round number to prevent order issues. Use minimum Trailing SL size as default if Trailing SL is smaller than minimum as allowed by broker.

Move SL to Break Even once in Profit by "X" number of pips.

Initial Fixed SL based on a Multiple of ATR (X) for example 2 x ATR (14)

That should just about cover it.

All the other usual money management etc.