Simple EA will make constant pips on m1
Results 1 to 7 of 7
 5 Attachment(s)    

Thread: Simple EA will make constant pips on m1

  1. #1
    Junior Member
    Join Date
    Jul 2009

    Default Simple EA will make constant pips on m1

    I have a certain criteria for pin bars, though they are not always perfect, it's best to take them all due to such small SL.

    I hope the screenshots are enough, unfortunately I only trade a few times per day inbetween lectures so can't provide a comprehensive statement. Also I have a tiny account and not enough focus to stick to such rules well and use many things in my m1 trading, but it is successful.

    Red dots are for sells, white for buys. Rules are below

    Pinbars rules:

    have one wick which sticks out at least 1pip more than candle on left of it
    the wick that sticks out must be greater than 49% of the total body

    Entry is always the top/bottom of the pin +2pips i.e. pending order

    1st SL is at the pertruding wick + 4pips
    +5 SL goes to to -10 (unless pin was <10pips then leave this)
    +10 SL goes to +3
    +15 to +8
    +20 to +16
    +50 to +30

    then just TP close at 100 for 10%

    Thanks for viewing, it is up to you if you want to undertake this, I don't think it will be hard, but will benefit us all. It's taking the best signal for a scalp which at least once a day will turn into a nice swing trade too.

    Attached Images Attached Images Simple EA will make constant pips on m1-m1-man-jpg Simple EA will make constant pips on m1-m1-man2-jpg Simple EA will make constant pips on m1-m1-man-5hrs3-jpg 

  2. #2
    Administrator funyoo's Avatar
    Join Date
    Sep 2008


    Hi simthegreat,

    According to this indicator, there will be too many bad signals.
    Attached Files Attached Files

  3. #3
    Junior Member
    Join Date
    Nov 2009



    Your first post is not quite clear enough in the details for me to understand, although I could probably guess at the details.

    You say your white and red dots are for buys and sells, yet what they really represent are the setup (or signal) bars. You don't have a pinbar until after it closes, and after you get a pinbar, you need price to reach your trigger price. It would be a good idea to remark your charts with an additional 2 colored dots which says here's where a trade was taken (buy or sell).

    There must also be a criteria for when a setup bar trade is cancelled because price has gone too far away from it, or... there was a signal in the opposite direction, or ... there was too much time elapsed, or ... ??? You should specify.

    You didn't mention the spread anywhere. For precise details, it's best to specify your intent. For GU, one could assume +2 or +3 spread.

    You said enter "+2" but... there are two possible meanings because you didnt' specify the direction. You will enter if price comes within 2 pips of the pinbar maximum; or, you will enter if price exceeds the pinbar maximum. (I'm guessing you mean the former).

    These are just a few thoughts about the idea. The previous poster's code would suggest either too many losses, or, your criteria need to be better refined.

  4. #4
    Junior Member
    Join Date
    Jul 2009


    Thank you both for the replies, I didn't quite want to overload you in the first post, but I shall do my best in this one.

    Ok firstly I have tried that indicator in the past, and many other pinbar indicators, and felt it was never that good. I also tried an EA funyoo developed based on pin bars but it was picking some bad ones. I think for the best results, an EA needs to be able to either pick on the best ones, or take all of them regardless, which is why I developed this criteria.

    Regarding entry, sorry I meant by "Entry is always the top/bottom of the pin +2pips i.e. pending order" that upon candle close, a pending order is set the opposite side of the larger wick of the pin. If the wick is at the bottom, it sets a buy above, if it is above, it sets a sell below.

    Regarding spread, the beauty here is the majority of the setups above are actually 3-5 pip pin bars. This why I migrated to m1 to trade manually, and it pays. So at most, SL is the length of the pin bar +spread + 3. Apologies again, I meant for us to assume the worst in all cases to truly make an effective EA, so assume GU spread as 3 (4 in asian session)

    Ok now to link what you see on the charts to what I am proposing, I put the grid there to represent 5pip intervals. Now take a look at nearly all the signals - from pins less of size less than 5 pips. From there we can assume that most of the time SL is below 10. And we can also assume that, as long as price is acting normally (outside of news/random events), then these pin bars do infact hold true to some short term extent. Well, they have to as they are displaying supply and demand on a minute to minute basis. So from here, the assumption is, on the majority of signals price will respect the region from which it produced the pin bar wick from for at least a few minutes; therefore we are inclined to enter as scalpers on the basis that the profitable situation cannot last very long. That is why the money management is at it is.

    Also, the money management combined with the fact that SLs will be so small can also lead to the assumption that even a low win rate will produce consistent profit, but in actual fact the principle behind the pin bar formation actually allows for more than 50% chance of some short term bias.

    Lastly, yes the pending orders set will need to be cancelled if not activated within 2-3 candles. Ideally this could be a parameter as sometimes on big moves pin bars show a delayed response, not sure why, but it can all be flexible when you consider all pending orders have tight SLs.

    Again, thanks for the questions and making me improve my shoddy description, I was in two minds and took the route of writing it in note format thinking it would be easier. Let me know what you think, or even if you would like more charts and I can be clearer. As you stated the dots are just for the signal bars, and I am trying to give a rough idea of their potential.


  5. #5
    Join Date
    Feb 2009

    Default Broker

    Hi simthegreat,
    Different brokers have different price feeds and candle shape changes between brokers, even on 1 min. Won't this affect your setups?
    Which broker are you using?

  6. #6
    Junior Member
    Join Date
    Jul 2009


    The screenshots taken from, but I have looked at 3 brokers and they all seem to be very similar, of course you can check for variance before ever going live if you suspect a large difference between broker feeds, but generally there isn't (so long as it's not a ponzi broker!)

    Thanks for the concern

  7. #7
    Junior Member
    Join Date
    Dec 2009

    Default is possible to build this expert?

    first bar to open up buy ganhilo qqe como esta na figura
    first bar to open dow sell ganhilo qqe como esta na figura


    take proft
    stop loss

    after firt entry negative 40 pips more 1 entry

    1263115028-clip-17kb.png file download
    Attached Files Attached Files
    Last edited by robsucesso; 01-10-2010 at 08:54.

Similar Threads

  1. How to get back some pips when EA make an order at new bar ?
    By hanhtroy in forum Scripts and other tools
    Replies: 0
    Last Post: 11-11-2014, 07:35
  2. Truncation of constant value
    By fxtester in forum MQL programming
    Replies: 0
    Last Post: 08-24-2014, 13:47
  3. Constant Range Bars
    By funyoo in forum Indicators
    Replies: 7
    Last Post: 09-12-2011, 08:48
  4. For Funyoo Can you make a simple scalper EA with this indicators?
    By freemenn in forum Ideas for expert advisors
    Replies: 1
    Last Post: 05-11-2009, 21:07

Tags for this Thread

10%, 100, broker, brokers, candle, expert, forex, grid, indicator, indicators, leave, live, news, pips, profitable, scalp, sells, short term, signal, signals, simple, spread, thank you, time, trading

Posting Permissions

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

Simple EA will make constant pips on m1