EA - quotSimple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Saitquot
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Thread: EA - quotSimple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Saitquot

  1. #1

    I started thread: https://www.forexsoutheast.asia/fore...36-trades.html
    but I thought it might be better to begin new thread.

    About 6 months ago I've created for myself EA according to this method. For 2 months I had been in process of analyzing it because of lack of time (two small women I've never finished and for this reason I've deceided to share this EA, perhaps you've got enough time to test it and could tweak it according to your opinions. I need to understand where EA trades differs comparing to method. EA works needs some tweaking.

    Few words about EA:
    Utilizes original entry requirements for MACD, Laguerre, Stochastic and Pivot.
    EA does not consider Bolinger Bands

    closes place on MACD crossover or
    Stop Loss or
    Take Profit - that is set to closest Pivot resistance or service. If pivot point that is closest is closer than 2 * SL selects one.

    Lots - clear
    StopLoss - (I use 5 digit broker so default SL is 200. For 4 digit use 20)
    TrailingStop - (for 5 digit broker advoed is 300. For 4 digit use 30)
    SetTakeProfitOnPivots - if true sets Require Profit on closest Pivot resistance or service
    TakeProfit - for 5 digit broker recommended value is 500. For 4 digit - 50
    UseTakeProft - Enables TakeProfit alternative, has higher priority than SetTakeProfitOnPivots, therefore if both are true SetTakeProfitOnPivots is discounted.
    MaxSpread - Max disperse for trading (advoed 100 for 5digit, 10 for 4digit brokers)
    TradeOnNewBar - if true opens positions only on new bar
    ShowPopUpWindows - disables pop-up alert, sound remains busy
    UsePivotsForEntry - place false if you would like to ignore Pivots
    UseEMAForEntry - price needs to be above or under EMA60 and EMA200 for market or buy

    Files - replie them to apropriate directories:
    /experts/indiors - AutoPivot.mq4, Laguerre-ACS1. Ex4, MACDTraditional.ex4, StochHistogram.mq4
    /specialists - Scalpel.mq4
    /templates - scalpel.tpl
    5min_trade_egy_imransait_ver1.2.pdf - egy documentation

    Important information:
    EA can be used on different timeframes within platform, but you can not mix pairs. If you would like to test it on differen pairs you need to open new window. This EA was not tested on pair than GBP/JPY.

    EA can be used as signal alert - just don't signal box Allow live trading. To turn off alarms un-tick box Empower alerts

    Joyful analyzing and trading

    Update version 1.23 25.08.2009
    Added TakeProfit and UseTakeProfit parameters - in case UseTakeProfit is untrue utilizes standard TP amounts as described in 1st post. If collections TP to TakeProfit parameter.
    Added ShowPopWindows parameter - if fictitious pop-up windows wont't open, includes close commerce. Sound alarm is obviously busy

    Ver. 1.24 26.08.2009
    Added alternative UsePivotsForEntry

    Ver 1.26 26.08.2009
    Added SetTakeProfitOnPivots parameter
    Added UseEMAForEntry parameter

  2. #2
    Thanks djanowski! I'm gonna try your EA. I believe it's worth having even and if for the alert track the trade. Here's the link if anybody wants to have a look at the egy:


  3. #3
    Inserted Code // MACD if (MACDHistgt;0) MACDbuy=true; MACDsell=false; MACD=MACD buy; else MACDbuy=false; MACDsell=false; MACD=MACD no signal; if (MACDHistlt;0) MACDbuy=false; MACDsell=true; MACD=MACD sell; MACDHistgt;0 doesn't represent our signal state, and I think else is best positioned at the past.

    I think that it ought to be:
    if (MACD crossover to positive) MACDbuy=true;blabla
    else if (MACD crossover to negative) MACDsell=true;blabla
    else MACDbuy=false;MACDsell=false

    that part of code do you wish to get tweaked sir ?

  4. #4
    Can you please explain TradeOnNewBar - if true positions on new pub mechanism, I don't ch it yet.

    What is the significance to iVolume ?

  5. #5
    Quote Originally Posted by ;
    Code doesn't have errors, it works nicely. I want to enhance general idea of closure positions, setting stops etc.. Usually transactions are closed too late, quite often still on and but could be better. Run it you will see what I mean.

    Trade on new pub?
    You mean online:
    if (iVolume(NULL,0,0)lt;11) Bar=false; Bar_s=; Trade=true; should (TradeOnNewBar) TradingOpenNewBar=New Bar Trading Activen; else Trade=false; TradingOpenNewBar=; //Unlock Bar

    I use iVolume to discover new candle and allow to exchange only during on opening, practically during first few seconds. When iVolume is near 0 means it is new bar Maybe there's neater method to discover it which don't know, but this only works as well


  6. #6
    Will have a looksee. Dzieki kolego!

  7. #7
    hoo i got it. . thx for sharing sir. .

    I have egy to develop EA based on imran said method and I'll try to tweak your code, so it may take time because I am new in mql programming

  8. #8
    Thanks Djanowski for this EA.

    Have a lot a pips !!


  9. #9

    Is Anybody re-coding That EA? If so, here are some suggestions. Insert a up box option in the properties tab so that that it is going to give an alert every time a new setup happens with no buy/sell box popping up. And just offer a close alert on traders. Check the s/l function, I had it set to 20 and it gave me a 26 pip s/l. Also a t/p amount would be fine. All these are the ones right now, I have more thoughts. If your re-coding this EA and wish to hear some suggestions PM me.

    Thank You...

  10. #10
    Hi guys,

    I'm running this ea on ej for a couple hours, but ithas yet to take a trade. I detect that macd/stock/pivot etc all state sell or buy signal, except lag that's continuously saying No Signal, though I could see that there is a signal.

    Anybody notice that, or am I doing something incorrect? Be great if somebody could also put in it and a tp.


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