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Thread: (Request) Monday channel breakout EA

  1. #1

    Default (Request) Monday channel breakout EA

    Hi Funyoo.

    If time permits, please can you code this.

    I read on one of the posts on the forum somewhere on the site of a monday price open breakout strat.

    Cant remember where, but I remember the strat, and used the trading simulator and results were very positive for 2009.01.01 to 2010.01.22 GBP/USD. Well over 500% on fixed lot size.

    Anyway, this is how it works:

    Open pending stop orders at +50pips and -50pips on Monday open price (00:00 at GMT +2)

    TP is 50pips, SL is 70pips. When one limit is hit, the other cancels.

    Thats it! Hope it works!
    Last edited by Agentrfr; 01-23-2010 at 10:17. Reason: Typing error

  2. #2
    Administrator funyoo's Avatar
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    Quote Originally Posted by Agentrfr View Post
    Hi Funyoo.

    If time permits, please can you code this.

    I read on one of the posts on the forum somewhere on the site of a monday price open breakout strat.

    Cant remember where, but I remember the strat, and used the trading simulator and results were very positive for 2009.01.01 to 2010.01.22 GBP/USD. Well over 500% on fixed lot size.

    Anyway, this is how it works:

    Open limit orders at +50pips and -50pips on Monday open price (00:00 at GMT +2)

    TP is 50pips, SL is 70pips. When one limit is hit, the other cancels.

    Thats it! Hope it works!
    Hi Agentrfr,

    Here is Monday Channel Breakout EA.
    Attached Files Attached Files

  3. #3

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    Thank you very much!

    Edit: I think there might be an error in programming logic. It doesnt enter trades?

    Anyone else have issues?

  4. #4
    Administrator funyoo's Avatar
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    Quote Originally Posted by Agentrfr View Post
    Thank you very much!

    Edit: I think there might be an error in programming logic. It doesnt enter trades?

    Anyone else have issues?
    What is your broker ?

  5. #5

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    The broker I use is Prime4x

  6. #6
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    Based on my back testing this would work better if the trade was opened to the same direction. Now it opens for example a sell if the price is going up. In most cases the price continues to go up.
    An option to choose more than just Monday would also be nice. Maybe the time could also be adjustable.

  7. #7

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    Quote Originally Posted by TraderTero View Post
    Based on my back testing this would work better if the trade was opened to the same direction. Now it opens for example a sell if the price is going up. In most cases the price continues to go up.
    An option to choose more than just Monday would also be nice. Maybe the time could also be adjustable.
    Uhh... Thats what I meanin the OP. The channel is made on +50 and -50 pips on moday open. If top channel is hit, buy is opened with TP of 50 and SL of 70, and if bottom channel is hit, sell is opened with TP of 50 and SL of 70.

    I dont know if it does otherwise, it doesnt work on my platform :/

    Funny enough, all other EAs work perfectly?

  8. #8

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    Oh wait, I see the confusion. I meant open buy/sell "stops" not "limits" in OP.

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    Quote Originally Posted by Agentrfr View Post
    Uhh... Thats what I meanin the OP. The channel is made on +50 and -50 pips on moday open. If top channel is hit, buy is opened with TP of 50 and SL of 70, and if bottom channel is hit, sell is opened with TP of 50 and SL of 70.

    I dont know if it does otherwise, it doesnt work on my platform :/

    Funny enough, all other EAs work perfectly?
    Now the bottom is a buy limit and the top a sell limit. Otherwise back testing works well on Alpari.

  10. #10

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    I can confirm that EA works on Alpari UK, but not prime4x.

    Funyoo, can you please change the top part of the channel to buyLimit and bottom part to a sellLimit.

    I tried recoding it myself, but I get errors for invalid stoploss.

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