Basic Balanced System (Expert Advisor included)

[Oshaban]

Hi,

I'm a big fan of moving average systems with high precision settings. Although i feel an EA like this would be a welcome development if it carries out the logic properly.
I seem not to understand the guidelines on how to use the EA. I'm testing it on 1HR pairs. After placing the EA and allowed it to take trades, nothing happened.
Moreover the screenshots to me does not conform to the guidelines you explained earlier on.

I assume the EA is supposed to be turned on or check the Allow Live Trading when an entry is about to begin (I'm i right?)
Is the 1HR charts ok to trade with?
Is it ok to change the timeframe in the settings to the timeframe i want to use?
Can i reduce the lot size?

Please kindly upload more trades you've taken recently and indicate the spots u entered and the reasons for the actions. I think it might help out.

Thanks for the good work

Hi Onyebuchim

I'm fan of moving averages systems too. Specially from point of programming view.
For using the EA on an other time frame, you have to change the time frame setting from the EA properties for every chart. If you intend to use different time frames, you just need to put 0 as the time frame. Then the EA will read the time frame from the chart itself. But be carefull, if 0 was set as time frame, do not change the chart time frame from the MT4 platform before disabling the Expert Advisor from the EA button at the top middle of MT4 platform.

As Mr. Edward said in the original thread of the strategy that this system works on every time frame.

I will do my best to upload images from time to time for discussion. Please other readers do your best too.

Best wishes

[Oshaban]

These are my trades for today on H1 chart. I have no valid trades on H4 because I opened my MT4 a little bit late and I found most of pairs have Stochastic values out of the working range.

Anyway, recently, I didn't trade on H1. I'm not much confident with it but as long as we are using demo account, there will be no harm.

I did the TP at the next Support or Resistance acording to the Pivot lines indicator. I will attach the indicator as well for whome want to use it.

I'm not much happy with other TF other than H4, but I decided to give it a try for today!

Pivot Lines.mq4

(14.2 KiB) Downloaded 1496 times

[Oshaban]

A perfect entry one EURAUD but sadly Stochastic is too low !

Note the RSI value and the divergence between moving average lines!

All conditions are good for entry, but Stochastic should be above 20 and heading down!.

If I'm manually trading, I will go with it. But I have to follow the instructions.

[olamoke]

hi

Pls how do i download the EA? It keeps saying file not recognised
Does it work only on Metatrader platforms because im not using one.

Nikky

[Onyebuchim]

Hi,

Thanks for the clarification.

From my understanding, if i'm to use the H1 chart i have to change the timeframe = 0.0 or 60.0?

Thanks again

[Onyebuchim]

A perfect entry one EURAUD but sadly Stochastic is too low !

Note the RSI value and the divergence between moving average lines!

All conditions are good for entry, but Stochastic should be above 20 and heading down!.

If I'm manually trading, I will go with it. But I have to follow the instructions.

eurcad.gif

I guess u meant you would have allowed the EA to take that trade but the entry requirement was not perfect.

Secondly i'm also guessing that the EA would have taken a SELL Position?

But as for me i would have enabled the EA to go in at 1.36045 in accordance to your logic of the design. Would that be wrong?

[Oshaban]

hi

Pls how do i download the EA? It keeps saying file not recognised
Does it work only on Metatrader platforms because im not using one.

Nikky

Hi Nikky
EA file works only on MT4 platform. That's why file is not recognised by your computer beacue file extention is not registered at your's.

[Oshaban]

Hi,

Thanks for the clarification.

From my understanding, if i'm to use the H1 chart i have to change the timeframe = 0.0 or 60.0?

Thanks again

Exactly. But be careful to not jumbing between time frames while Expert Advisors button is activated.

[Oshaban]

These are my trades for today on H1 chart. I have no valid trades on H4 because I opened my MT4 a little bit late and I found most of pairs have Stochastic values out of the working range.

Anyway, recently, I didn't trade on H1. I'm not much confident with it but as long as we are using demo account, there will be no harm.

I did the TP at the next Support or Resistance acording to the Pivot lines indicator. I will attach the indicator as well for whome want to use it.

aususd.GIF

euraud.GIF

gbpjpy.GIF

nzdusd.GIF

I'm not much happy with other TF other than H4, but I decided to give it a try for today!

Pivot Lines.mq4

As I expected that things didn't go in my favour. One out of four trades is ok. It was the EURAUD. The pair went about 90 pips in our favour but I didn't close the contract.

H1 time frame is not my favour one. I will stick to H4. Let us see the results for next days.

[Oshaban]

A perfect entry one EURAUD but sadly Stochastic is too low !

Note the RSI value and the divergence between moving average lines!

All conditions are good for entry, but Stochastic should be above 20 and heading down!.

If I'm manually trading, I will go with it. But I have to follow the instructions.

eurcad.gif

I guess u meant you would have allowed the EA to take that trade but the entry requirement was not perfect.

Secondly i'm also guessing that the EA would have taken a SELL Position?

But as for me i would have enabled the EA to go in at 1.36045 in accordance to your logic of the design. Would that be wrong?

What I mean is that: "If I opened the MT4 paltform an hour or two hours earlier, the EA for sure will take the trade. But in this case, it will not because stochastic was under 20".
If I entered manually, I will have a big percentage to get good profit but not much as if stochastic was above 20, because we entered a littile bit late.

If you use the second version, EA will take the trade around 1.36045 but you may before that trade or after will get some loss trades if the market has changed/change direction. Second version enters the trade as soon as all entry reguirements are met, but the version I use, I have to check the moving average direction (clear slop, up or down). Then I will wait for my daily pip/$ target and then close all positions and wait for the next day.

I wish this is clear, if not please tell me, I will do my best to clarify.