Hi Guys,
I modified MetaCoder's Phantom 6 EA and played with it how I feel would be more profitable long term.
How is mine different you ask?
-Made it a little more dynamic... I did not like some of this code it was ineffective using global vars. . I used arrays and did a bit of housecleaning.
-Logically it is pretty different. I trade 2 baskets 1 Asian and 1 London. The trades that are ghost clean at the beginning and end of each session instead of every 8 hours.
-If trades length across multiple sessions I simply try to break even instead of a % profit. The idea is to try to escape the lingering and potential passing basket.
In case you don't know exactly what the Phantom 6 EA is all about please see:
https://www.forexsoutheast.asia/gene...g-happens.html
For background info about the concept read the Basket 14 EA:
https://www.forexsoutheast.asia/fore...-220-99-a.html
take a look at the code its pretty self explanatory. I tried to comment how it functions aswell as variables.
It was pretty easy to alter because the code was pretty clean thanks to MetaCoder!
Attach to some JPY pair which upgrades often I did @ 30 mins. No indiors needed!
I know MC utilizes 1 hour timeframe( regardless of TF you attach to it trades every hour) but I left it dynamic (you can trade every minute if you need ). I'm playing with M30. . .you get trades every 30 mins. . .it is to be determined not or if this is a great idea.
This is a non losing egy that with infinite margin will keep earning the cash... couldn't we work for the fed?
Don't use it LIVE till we test that the EA is solid and profitable long term!!!
To trade the EA with baskets your broker should offer the following pairs(top 5 buy and underside 5 sells):
LONDON
1. GBPUSD Real
2. EURGBP
3. GBPJPY
4. USDCHF Real
5. EURJPY Real
6. EURUSD Real
7. USDJPY Real
8. GBPCHF Real
9. CHFJPY
10. EURCHF
ASIAN
1. GBPAUD Real
2. EURGBP
3. EURJPY Real
4. AUDJPY Real
5. GBPNZD
6. EURNZD Real
7. EURAUD
8. AUDNZD
9. NZDJPY Real
10. GBPJPY Real
But of course you can come up with your own baskets that work for your broker and that follow the criteria that they must cancel out each other (buys and sells should be hedged)
VERSIONS:
V1x - Additional filter to trade (just if all current trades exactly the same pair are in profit).
This will prevent it from trading on a retrace/trend change in your ghost runner...
PRO: Less trades, just add to winning winner
CON: The pair has to proceed further for you to get to your profit goal. When it was a retrace then you should have traded. When it was a reversal of fashion you saved yourself drawdown.
V2 - Adds upon V1x and changed time (not modifiable)
Shing time will help us correctly detect strong vs weak phantoms. You can not pick an arbitrary time and say lets trade the ghost that is strongest. . If you don't want drawdown first and then go into profit later. This attempts to optimize and skip the drawdown phase and move into profit (highest opportunity to go into profit straight away. . Not guaranteed obviously).
It will open new baskets in the first 2 hours of each session. After that it will try to reach the profit target or BE if session finishes.
London Open Prep: 8 GMT
London Trading: 10:30 GMT
London Close: 14 GMT
Asian Open Prep: 20 GMT
Asian Trading: 0 GMT
Asian Close: 6 GMT
(No trading for Asian session on Monday)
I added a fundamental principle of Don't let winners become losers. So I inserted a BE to trades that go over 200 ATR (Hourly) in profit. This will aid the case where you added a lot of trades that almost gets to your target but then reverses suddenly... atleast you don't lose much you will have minimal lurking trades in DD (just ones that didn't achieve over 200 ATR pips in profit). Since we just add to winners... this will cut down amount of bad trades significantly.
CONS: It takes a longer time to achieve your profit goal. . You may have BE's and more lurking trades across multiple sessions. You have to expect that market picks a direction and goes with it.
V2a - Placed on M15 chart just!
--
This version utilizes some suggestions given to me personally by Timmy.
-Trade on the M15 chart with the bar at 15 minutes and 45 minutes just.
-Volatility filter (SMA of ATR using the indior provided - MA-ATR). This is modifiable through the EA settings.
-Changed time to trade...
- New baskets will soon be opened at the beginning of session (11:15GMT) today... and will reset the phantoms at 11 GMT... This is the fad for London/NY overlap
- We can open new baskets to the first two hours. . Ie: London (11:15 GMT till 13:45 GMT) theres 6 bars to find a potential entry.
- When basket is open you can trade till 17 GMT... at which point you will search for an exit (atleast BE)
- In case emblem already has trade open... add another just if minProfitBetweenTrades is met (ie: $10 dollars set it to 10)
- Use the actual pairs as anchors to begin a trade. . Trades may be opened by and then the EA on any ghost pairs. Thought is that anchor pairs (actual pairs in the EA settings) dictate the direction of this basket... so use them for optimum entry of baskets. Versions before this just traded the anchor pairs (actual pairs) and not the phantoms.
-There was also a bug in the code that allowed it to trade on Monday Asian session.
Thanks,
Jag
https://www.forexsoutheast.asia/atta...2074335598.mq4
https://www.forexsoutheast.asia/atta...1064186813.mq4
https://www.forexsoutheast.asia/atta...1953267629.mq4
https://www.forexsoutheast.asia/atta...4541663862.mq4
https://www.forexsoutheast.asia/atta...6977117953.mq4