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Thread: Candle entry EA

  1. #1
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    Default Candle entry EA

    Hi Mr Funyoo,

    I would appreciate it if u can code this strategy.its a strategy I got from "forex strategy revealed" forum some time back.it was called the midnite setup because it traded on daily candles.however i obsrved that it could be traded on any time frame with appropriate settings.I have modified the method of entry a bit and the method of exiting completely to one thatI think is more accurate.

    the strategy goes like this:

    At the close of a candle/bar, we place a pending buy order x pips + spread above the high of the candle and a pending sell order x pip+spread below the low of the candle/bar.immediately one order is triggered , the other is cancelled

    Exit rules:

    As soon as a position is opened, we count three candles before the trigger candle and place our stoploss/exit point x pips+spread above the high of the highest of the three candles(if the position opened is a sell position) or x + spread pip below the low of the lowest candle (if the position opened is a buy).

    Criteria for counting candles to place stoploss/exit:

    when counting the candles, any candle that is engulfed by another is not counted(it is not used in the count) we move over to the next candle.

    further filter;

    Before placing a pending order, we must make sure that the candle is not engulfed by the previous candle.if it is we do not use it instead we wait for the close of the next candle until we find one not engulfed by its predecessor

    it would be a great idea to put a usehour fubction with the option to turn on/off.

    thank you sir

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    Quote Originally Posted by enabu View Post
    Hi Mr Funyoo,

    I would appreciate it if u can code this strategy.its a strategy I got from "forex strategy revealed" forum some time back.it was called the midnite setup because it traded on daily candles.however i obsrved that it could be traded on any time frame with appropriate settings.I have modified the method of entry a bit and the method of exiting completely to one thatI think is more accurate.

    the strategy goes like this:

    At the close of a candle/bar, we place a pending buy order x pips + spread above the high of the candle and a pending sell order x pip+spread below the low of the candle/bar.immediately one order is triggered , the other is cancelled


    Exit rules:

    As soon as a position is opened, we count three candles before the trigger candle and place our stoploss/exit point x pips+spread above the high of the highest of the three candles(if the position opened is a sell position) or x + spread pip below the low of the lowest candle (if the position opened is a buy).

    Criteria for counting candles to place stoploss/exit:

    when counting the candles, any candle that is engulfed by another is not counted(it is not used in the count) we move over to the next candle.

    further filter;

    Before placing a pending order, we must make sure that the candle is not engulfed by the previous candle.if it is we do not use it instead we wait for the close of the next candle until we find one not engulfed by its predecessor

    it would be a great idea to put a usehour fubction with the option to turn on/off.

    thank you sir

    Hi Mr Funyoo,

    what do you think about this strategy?can it be coded and can you code it? I would appreciate it if you can.
    thanks.
    enabu

  3. #3
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    Quote Originally Posted by enabu View Post
    Hi Mr Funyoo,

    what do you think about this strategy?can it be coded and can you code it? I would appreciate it if you can.
    thanks.
    enabu
    Here is the Candle Entry Expert Advisor. I've made simple things for the engulfering part of sl. It needs more complex loops. I suggest you to contact a more experienced programmer if you want to modify it.
    Attached Files

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    Default I appreciate your effort, funyoo

    Quote Originally Posted by funyoo View Post
    Here is the Candle Entry Expert Advisor. I've made simple things for the engulfering part of sl. It needs more complex loops. I suggest you to contact a more experienced programmer if you want to modify it.
    Thank you sir,I appreciate you effort

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    Default noticed some issues with this EA

    Quote Originally Posted by funyoo View Post
    Here is the Candle Entry Expert Advisor. I've made simple things for the engulfering part of sl. It needs more complex loops. I suggest you to contact a more experienced programmer if you want to modify it.
    Mr funyoo,
    this EA opens trade but i noticed two things about it.

    1)the stops does not move.I would appreciate it if the stops was dynamic(moves/change).That is after every candle close, the three new candles are counted again with the first one been the candle immediately preceding the new candle(that is the candle that has just closed.this is repeated every new candle.

    2)it doesn't seem to be able to trade more than one pair at a time.

    please can you fix the above two issues?

    thank you sir

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    Quote Originally Posted by enabu View Post
    Mr funyoo,
    this EA opens trade but i noticed two things about it.

    1)the stops does not move.I would appreciate it if the stops was dynamic(moves/change).That is after every candle close, the three new candles are counted again with the first one been the candle immediately preceding the new candle(that is the candle that has just closed.this is repeated every new candle.

    2)it doesn't seem to be able to trade more than one pair at a time.

    please can you fix the above two issues?

    thank you sir
    The logics in the code are good. I suggest you to contact a professional that will have more time to consacrate to you.

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    Default Thank You Sir.

    Quote Originally Posted by funyoo View Post
    The logics in the code are good. I suggest you to contact a professional that will have more time to consacrate to you.
    THANK YOU SIR.

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    Default limit order error

    Hi Goodmorning Funyoo(its morning 3am here in Toronto),

    the candle entry EA is a goood job from you, however can you fix this little problem;

    It seems to be placing sell limit orders closer to the candle than buy orders.I would like both to be the same distance from candle when the limit order is placed and both limit orders should be placed the same time(not oneearlier or later than the other)
    thank you sir

  9. #9
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    Quote Originally Posted by enabu View Post
    Hi Goodmorning Funyoo(its morning 3am here in Toronto),

    the candle entry EA is a goood job from you, however can you fix this little problem;

    It seems to be placing sell limit orders closer to the candle than buy orders.I would like both to be the same distance from candle when the limit order is placed and both limit orders should be placed the same time(not oneearlier or later than the other)
    thank you sir
    Hi enabu,

    I don't see what I can do, the logics are good for the place of the buy/sell stops and the pending orders are put asap.

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    Quote Originally Posted by funyoo View Post
    Hi enabu,

    I don't see what I can do, the logics are good for the place of the buy/sell stops and the pending orders are put asap.
    I appreciate your giving it a look once more.Thanks for your time too.

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