Results 1 to 7 of 7
 1 Attachment(s)    

Thread: 4 Hr 5 EMA System EA

  1. #1
    Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Default 4 Hr 5 EMA System EA

    Hi, Funyoo,
    this system is from 4H 5EMA System @ Forex Factory

    the rules in doc file

    Could you code it into an EA. I have seen two versions of this EA. no one is exactly following rules.


    Thank you and happy new year.

  2. #2
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Quote Originally Posted by zcdb View Post
    Hi, Funyoo,
    this system is from 4H 5EMA System

    the rules in doc file

    Could you code it into an EA. I have seen two versions of this EA. no one is exactly following rules.


    Thank you and happy new year.
    Hi zcdb and welcome,

    There is too many conditions to code. I suggest you to test it and to say us what are the most accurate signals.

  3. #3
    Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Default

    Thanks you for look at this system.

    the following is the original description:

    -------------------------------------------------------------------------
    Entry


    1.) Price must go above/below the 5EMA by 5 pips for it to be considered a setup bar. If price breaks the lower EMA you only look for longs and if price breaks the high EMA you only look for short entries. Price cannot touch both EMA's, only one, if it touches both EMA’s it cannot be used for a setup bar.

    2.) A proper reversal bar has a lower high for a short or a higher low for a long.

    3.) After a proper setup bar has been formed, price has to break the setup bars low by 5 pips for a short to be taken or break the setup bars high by 5 pips for a long position to be taken. In the case of a long entry you will need to include the spread in addition to the 5 pips above the high of the setup bar. In the case of a long setup bar (price below the 5 EMA) if price keeps going lower in the following bar that now becomes the setup bar. The same applies for a short. As long as price keeps going further in a direction you have new setup bars until a reversal bar triggers the trade.

    4.) In addition to the reversal bar making a lower low and a lower high than the setup bar, or in the case of a long entry, making a higher high and a higher low, it must also be within 2 bars following the setup bar. If a proper reversal bar does not follow the setup bar within 2 bars the trade is not taken, and you wait for a new setup bar which can be as soon as the next bar. In this case the low of the failed setup bar which is now invalid is not of any importance anymore. The new setup bar only has to meet the basic criteria of piercing the 5EMA by a minimum of 5 pips to be a valid setup bar.


    Initial Stop Placement


    1.) Initial stop placement is 5 pips above the setup bars high in the case of a short, and 5 pips below the low of the setup bar in the case of a long. Most charts use the bid for highs/lows, so in the case of a short the stop must be 5 pips above the high and then add the spread as well.

    2.) If you get stopped out you then reverse the trade. If you are long and get stopped out you enter short when you get stopped out. So not only do you have your stop in the market but you also have your order to change the direction of the trade should you get stopped out. Only put a trade to go the other direction in the market after a proper reversal bar closes.

    3.) Lets say you got a buy signal and price went 80 pips in your favor and then went against you and stopped you out, at which point you reversed the trade according to the rules. So where would you put your stop? Your stop would be placed 5 pips above the high from when you got in the trade. If you get stopped out of your reversal trade you do not put another reversal trade in the market. Refer to post #485 for a example and a chart explaining it. To put it another way im going to quote viperzz ,"Your stoploss for the reversal order should be placed 5 pips above the high of the initial reversal bar that triggered the buy trade once closed, as new bars are formed from then on and if with a higher high, the reversal order stoploss should then be moved above the most recent candle with highest high until proper setup bar is formed in the opposite direction."
    A proper new setup bar could be as immediate as the bar that has triggered the reversal order itself.


    Take Profit


    1.) Only use this exit, NO exceptions to the rule.

    2.) The only exit is when a signal to go the opposite direction is given. If you are short you exit when a long signal is given, and when you are long you exit when a short signal is given. Being that you are exiting BECAUSE you have the signal to go the other way, you not only exit your position but you enter in the direction of the new signal. If short you exit and go long, and if you are long you exit and follow it up with a short entry.



    Additional Rules


    As any system is traded you find new "setups" that need to have a “in case of this, do this rule” and this is that category. I will continue to update this section as those arise.

    1.) Trades are not carried into the weekend. Close all open trades 5 minutes before your broker closes. On Sunday at open put your trade in if nothing has changed. If the gap gives a signal the other direction open the trade in the direction of the new signal.

    2.) Example: A proper long setup bar forms and you place your buy stop and stop loss. The next bar makes a lower low and then triggers the buy stop, in that order...where does the stop go now? The stop would go 5 pips below the low of the reversal bar. Essentially the reversal bar is also the setup bar. This is a very rare case but it does happen, and thus we need a rule for it. This happens because we do not watch the market 24/7 only a brief glance every 4 hours once you understand the system.


    3.) This rule is here to determine where to put the stop when you have a failed reversal bar. It was taken from post #419. Only apply this rule if the trade hit a max profit of +150 pips or more, otherwise use the original stop when you first intered the trade.
    "Since we have no setup bar we have no where to put are stop. In this case you look at the maximum number of pips you were in profit and devide that number by two. So on this trade we went short at 1.7365 and it hit a low of 1.6134 for a max profit of +1,231 pips. You know devide the max pips in half and you come up with 615 pips. So you lock in 615 pips and the new stop is 1.6750. Now of course when we get the next setup bar you will use that but this rule is for when we have a failed setup bar and are in profit and need a stop."

    4.) So lets say we have a setup bar to go long and it closes and we put are buy order in the market. During the next bar the market makes a lower low and then goes on to trigger are buy. Do we leave the stop in the original location or move it 5 pips below the new low? Being that this system has its base in support and resistance we move it below where the market just went down and bouced. So in short we would move it 5 pips below the new low.

    ------------------------------------------------------------------------


    I know you are busy and this EA will take very long time if want to following all the conditions.
    Could you code the place pending order after setup bars and place reverse pending order after reverse bars logic, other conditions just code as many as you can. and no hurry. thanks.

  4. #4
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Try this one.
    Attached Files Attached Files

  5. #5
    Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Default

    you are the man, I will test it. Thank you so much

  6. #6
    arul57
    Guest

    Default

    hi bro zcdb,

    so how the result of this Ea, can you post it here.

  7. #7
    Senior Member
    Join Date
    Jan 2009
    Location
    Australia
    Posts
    631

    Default

    can someone tell me what the best pair and time frame would be for this EA. Also Funyoo was wondering if you could add martingail to this EA as well
    Last edited by wannaberich; 04-24-2009 at 12:37.

Similar Threads

  1. SIMPLE SCALPING SYSTEM , REALLY GREAT SYSTEM FOR ALL
    By afoson in forum Ideas for expert advisors
    Replies: 9
    Last Post: 11-26-2010, 17:56
  2. M15 SYSTEM FX
    By danwork in forum Ideas for expert advisors
    Replies: 10
    Last Post: 01-18-2010, 16:04
  3. Very Profitable System....-Roi system
    By roif in forum Ideas for expert advisors
    Replies: 0
    Last Post: 12-14-2009, 11:10
  4. PipsFlush System F (Manual Trading System)
    By rstr in forum Commercial manual systems
    Replies: 1
    Last Post: 08-13-2009, 15:18
  5. Learn System Poacher Trading System
    By mehdisalehi in forum Technical analysis
    Replies: 2
    Last Post: 05-21-2009, 03:27

Tags for this Thread

accurate signals, broker, candle, change, funyoo, high, resistance, signal, signals, spread, stop, stoploss, support, system, test, thank you, time

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •