This is an interesting EA. The possible combinations are vast. One could say this is an EA of balance.
For those of you that like to tinker....
I am a forward tester (I do not know how to backtest or optimize), so I cannot share anything about the settings yet as it takes me a very long time to discover what is good.
I first identify an EA that I can work with and believe in... then I spend my time. This may be one of those EA's.
For pleasure I am trying...(I really enjoy this EA)
Lots: 0.05 (I use a 1K IBFX mini account)
The rest of the inputs are the defaults. (since we use a TP and a SL, you can open up the MaxOrders to 999, but it is not really necessary)
P.S. I have not tinkered with distance yet....but I am sure there is something to do with it to limit exposure on the laddered-type of new highs/lows that are being executed...
Last edited by ElectricSavant; 03-03-2009 at 16:18.
For those of you that are following this thread, those settings above yielded 5% today.
There will be ups and downs. The idea was to filter out the noise for short term trading. 75 SL and 75 TP seems to work nicely, thus far....but it is way too early to tell....Choppy days create a book of offsetting open trades and when the trend arrives we get neutral turbulence in the banked balance or a net loss...but over a months period there should be enough trending characteristics to net some profit...remember high winrates are for novices...profits are for pro's!
I hope you make a lot of money and if you discover better settings let me know. I just pulled the settings out of my hat...(also, I do have a little experience) and started testing at the same time I posted them. I was fairly confident that those settings would work under the current conditions, but they may not be optimal....but hey! If there is profit...that is fine with me ♦☺
Remember ...all of the EA's posted here, especially this one....are impossible to find the optimal inputs as there are too many combinations. funyoo has a lot of experience and presents graphs with inputs at a fairly accurate output....but this zigzag EA has a lot of different possibilities and you would just need to get lucky to find some good settings with a lot of trial and error!
The opening post settings were not the way I liked to trade this....but they may be more profitable. I know, I know...I am contradicting myself now.....Trading to me is like a good fitting shoe...not only do I need to make consistent profit without caring about the winrate ...it also needs to fit me. I could not use the 500TP and wade through all of those losses while getting there....so I made it more short term to see if it fit!
I am currently having a lot of fun with this EA and I can now say I am a consistently profitable Forex trader for a year now AND MAKING MONEY with an EA that I found in the public domain (I customized the settings and I cannot share at this time)...so fellah's it is possible. Will I trade this Triple ZigZag EA live and add it to my arsenal?....not for a while as I need to see how it does for a few months....then I will try with a 0.01 lotsize (penny per pip at IBFX) to see if I can survive in a live environment with real money. If it works out, I will add it to my live arsenal and ramp it up carefully to a respectable lotsize to balance the exposure with the initial investment to keep the DD at bay. I get excited often, just to be let down...so I give this EA a 1% chance to pass my smell test as I do not want to have too high of expectations.
Fellah's...I want to encourage you to mine through the EA's here (this is the best site) and about the internet....There are some gems out there if you use the correct inputs....you gotta' do the time! I predict that I will find my second consistently, profitable EA right here at this website...I just got to find the inputs as there is never any spoon-feeding.
Last edited by ElectricSavant; 03-04-2009 at 20:01.
Please pardon the interupption,
It is way, way too late to depend on three zig-zags to synch-up to get out of a trade and to go to the other side....you need to intervene with a TP or SL...
I will wait for funyoo to respond.
P.S. Generally speaking I have found for stop and reverse systems to be successful would require indicators in different TF's for EACH side. For example enter on the M5 and exit on another TF. So in other words stop and reverse can be a "NOT always-in system". I have yet to find an indicator based system that works well with stop and reverse....just too much lag...
Last edited by ElectricSavant; 03-05-2009 at 14:52.
I have been working something like 9 months with different zigzag`s, and love them.
Here`s something what I want to do.