I backtested v1.3 of this EA with only changing TP=25 and there appears to be a problem:
From Jan1/09 until Apr30/09 now, it hit two long trades(feb4 at 00:45 and april24 at 01:30). However, both were in the wrong direction! (see charts below as well as html trade log). Both trades were good setups for 20-30 pips on short trades - the EMA's crossed down, RSI heading below 50, Stoch's down, MACD positive and decreasing.
It appears that the EA is also missing good trades because it is perhaps looking for exact situations. For example, RSI doesn't have to be exactly 50, but only greater than 50 for a long trade. So, when we set the option "RSIbuylevel2" to 50, what is the EA looking for: "exact" or "greater than"?
Same thing with the MACDbuylevel=0 - does this mean the EA only enters trades when the MACD=0? Again, all we want is the MACD to be moving negative to positive for a long trade.
Comments? I think this EA has potential!
yea i think too.
someone should look again into this code.
this is how the system in general works:
So You've Finished The School Of Pipsology...Now What? | Forex Blog: Pip My System
and as you can see in statistics it has been profitable.
is the indicator really giving the same signals as the guy is posting on babypips? if it is, it wouldnt be that difficult i think to just get those signals into an ea.
the question is which indicator really shows the exact same signals this guy is posting.
i think the newest indicator is cowabunga-anypairv2 right?
this is just an indicator drawing arrows onto charts.
not automated trading, but showing signals!
i wonder if those signals are correct with the ones on babypips.com website
since I know you are very busy I am posting this on the Cowabunga EA tread and I dare to send it to you as a private message.
I checked your Cowabunga EA's and seams that there all are based on wrong indicators. I did attached the wright indicators (the ones the author of the system is using) and the template I am using.
My question is: can you base an EA on the "Cowabunga - 2MA Crossover" indicator which code is public so I assume the author would not mind to use it.
If you follow the Cowabunga rules and use this indicator the results are the same with the Cowabunga system - rarely there is a loosing week.
I use it also on GBPJPY 15M pair and take any signal between 4:30am and 9am London time. I enter with two lots - I exit the first on equal distance than my SL and let the second run until it hits next swing or support/resistance or fib level or big number or opposite signal - the results are phenomenal. If it goes against me - I reenter on the next signal in the opposite direction. Here is rough list of the last week trade results (it is approximate) if you only use one lot and exit on the equal distance from the SL or with the opposite signal (if it is a loosing trade):
Monday June 15: -19pips, +40 pips,
Tuesd: -81, +110
Thur: -7, +47
Total: +237 pips
Thanks for the time - I hope you will be able to use the right indicators for the creation of a killer EA