1 (edited by cryptocurrency 2016-01-23 12:12:32)

Topic: FREE EA: The Forbidden Fruit EA

The Forbidden Fruit EA

This EA is very profitable when the market is ranging. This is a semi automatic EA. The user must manually enter in two prices inside a range (highest price range, lowest price range) for EA to trade.

I just created an EA with a profit factor of 1387. It works in the 1 minute time frame.

Here's the MQL4 code to the EA, I've also included the EURUSD set file as well. The code was written manually.



Settings:

  • PriceMustBeLower: highest price inside range
    PriceMustBeHigher:  lowest price inside range


Enjoy!



PS. I haven't created a function to prevent the EA from placing trades during the London session. If anyone know how to read my MQL4 codes, they can add that part in the EA for me. I'm trying to add a code to make the EA automatically close all profitable trades if price move outside that PriceMustBeLower range or PriceMustBeHigher range by 15 pips. Can someone modify it for Free and reply to this thread with their code modification?

You will automatically get credit for it, if you reply to this thread with your modification.

Post's attachments

TheForbiddenFruit.zip 245.94 kb, 16 downloads since 2016-01-23 

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King of kings and Lord of lords Cuong Truong.

Re: FREE EA: The Forbidden Fruit EA

For some reason I think that this should be posted in a forum related to MT4.

Certainly not in this forum!

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: FREE EA: The Forbidden Fruit EA

Dave, this is the right forum. Maybe he'll come up with a FSB strategy for that.

4 (edited by hannahis 2016-01-23 19:49:46)

Re: FREE EA: The Forbidden Fruit EA

Cryptocurrency,

May I know how you determine the price range for each input , i.e. two prices inside a range (highest price range, lowest price range).  Is there a framework to determine this two price range, so that we can automate it?

Such as a percentile to the current price, highest price range, 80% to 90% using the current price as 50 percentile.  And the lower price range to be 10% to 30%?

I'm trying to understand your logic behind what input to use for these 2 price range.

Sorry, I am not so technical when it comes to MQL code and programme coding etc.  I'm just a usual trader (without all these computer or programming knowledge) who needs FSB to translate my theory into practice.  You would have better hope in Popov and his team of genius.

As for me, I want to understand trading concepts and analysis so as to widen my knowledge.

Sounds like you are using some kind of resistance to determine whether it is currently in side way trending mode.  If price break free from certain level of resistance, then it's out of the side way trending mode.  Hence, if price is in the higher range of the side way trending, open a sell position and if price is in the lower range of side way trending, open a buy position.  However if price break free from resistance, i.e. moved 15 pips higher/lower than the highest or lowest price range, close the trade because a breakout is about to happen.  Am I right about your theory?

If I'm right about your theory, then I would say, you are betting small but losing big.  Secondly, 15 pips is too small a range to determine whether the price has gone out of the side way trending mode. 

I've attached 3 version of EA based on Resistance and Support concept for members to upload at the Premium Club section.

Below is the screen shot of the 3 EA statistical results on 1 min time chart. namely, EA 101, 102 and 103




Regards
Hannah

http://s23.postimg.org/7jpe3ea9z/Resistance_Support_EA.jpg

Hannah

5 (edited by hannahis 2016-01-23 20:08:12)

Re: FREE EA: The Forbidden Fruit EA

These 3 EA has other indicators to ensure that the price rebound has higher likelihood accuracy and hence predictability, so that we don't just rely on resistance and support indicators only but strengthen the predictability with other factors that "agree" with the current price behaviour.

Hannah

Re: FREE EA: The Forbidden Fruit EA

Price range is strong support & resistance area. You must have strong knowledge of support & resistance to know the price range. It is only profitable when market is ranging. If you have a price range of 200 pips. You should set your stop loss to 201 or 202 pips. If price move outside of your range, EA will start closing trades.

King of kings and Lord of lords Cuong Truong.

Re: FREE EA: The Forbidden Fruit EA

cryptocurrency wrote:

Price range is strong support & resistance area. You must have strong knowledge of support & resistance to know the price range. It is only profitable when market is ranging. If you have a price range of 200 pips. You should set your stop loss to 201 or 202 pips. If price move outside of your range, EA will start closing trades.

Strong knowledge - that's rather subjectively put, don't you agree?