Basic Balanced System (Expert Advisor included)

[Oshaban]

I have seen the criteria for the EA has to do a buy order but could you specify the criteria for a sell order such as the RSI and Stoch (14,3,3) in what range etc.
Thank you very much. I have enjoyed what you have done so far. Thanks for sharing your efforts!

Bill,
Please go back to the first post, where you will find the link to the original strategy. You will find everything is mentioned there.

[melo]

Hi,
how to run this EA with 4 digits broker?
Thank you

[Oshaban]

Hi,
how to run this EA with 4 digits broker?
Thank you

melo,
It is ready to work on 4 digits brokers.

[Onyebuchim]

Hi, Oshaban

Hows it goin. Please u really need to look into the Stop Loss and Trailing Stop in the Version 1 EA. They dont work. I've tweaked it most times and it still does not work.

I appreciate you're much busy but please try to squeeze sometime to fix the bugs.

How's it goin with the system you're helping to code an EA.

Best Regards

Onyebuchim,
I'm sorry for the delay. I have been busy last week.
Results for this week are not good. I didn't work on one account steadely because I still have some ideas trying to implement them on forward test.
As I said earlier, EA is very profitable in trendy market, but low profit or little loosy in flat market. As soon as market takes a direction, any lose can be recovered very soon.
We need some people to test different versions to prove this and have more confedence using such EA.
For flat market, I guess (I never did) working on lower time frames is a good idea. Not sure yet, but this is the market logic !.

For the SL and TrStop, please give me the name of that copy (now, we have 2 copies named by version 1). I will do my best to reply with the corrected version on Monday because I need to test it before publishing it again.

I will have deep reading to the file you sent me at the weekend

O. Shaban

Hi Oshaban,

Thanks for your efforts. The EA I'm currently using is the Version 1.

Yeah last week was a mess and the news outbreak added to the swift change in trend directions.

I've noticed that a part of the rule might be acting against the natural moving average system. I took a SELL trade manually on the AUDUSD even while the STOCH was way below 20 line. According to rules it is wrong. But as at this write up, i'm over 1480 pips profit. Both MAs crossed the 20 MA going downwards and naturally like my personal system i usually go in. But the EA would not bcos the STOCH is overbought. This i think might hamper some good trades.

A similar thing occured in the EURCHF. But i did not manually place an order. The EA placed the order but a little bit late due to the rules. Its over 420 Pips now

These are my observations. Pls try to work on the SL and TRstop automatic adjustments.

[Onyebuchim]

Hi Oshaban,

Had the highest pips so far since been using the version 1 EA. EURCHF = 1120 pips.

This supports our claim that the EA is very good in a Trendy Market. But it would have done better if it took the trade immediately at the cross of the MAs.
The manual trade i took ended up in 1600 pips bcos i entered immediately at the cross.

[Onyebuchim]

Phil Newtons Chop filter
Look at the last finished H4 bars. If body of bars are inside high-low of previous bar (before the 4 finished H4 bars) then this is comgestion and don't trade, wait for high-low (High[5], Low[5])to broken before trend trading

Was this filter compatible with that 1600 pips gain?

Hi Rom,

The trade i took that got the 1600 pips gain was not guided by the filter you mentioned. I dont really know much about the filter.
I simply look out for a cross btw the 5 and 10 MAs crossing either below or Above the 20 MA, and take a trade after one or more candles have closed in the trend direction. That got me the 1600 pips gain.

[Onyebuchim]

Hi, Oshaban,
Long we heard from you. i guess busy as usual. Whats trhe latest on the tweaking of the EAs?
Well this week had been a sideways and uncertain market direction. But i was able to bite a few with the Version 1 EA. Had 200 plus pips on NZDUSD and 400 plus pips on GBPUSD. had some losses too but my fault bcos i left it running during the news outcome.
Would be glad to hear from you.
Wish everyone the best

[Ghaz]

hi Oshaban,

thanks for all the work you made for us.
I just wanted to say THANK YOU, because often threads die because all the traders dont reply each other!

My question is, if it is possible to use your EA and the strategy on the daily frame?-has somebody done this before?-Do you like it?


thanks,


Florian

[Onyebuchim]

My question is, if it is possible to use your EA and the strategy on the daily frame?-has somebody done this before?-Do you like it?

In my opinion is a huge edge in forex trading is possible by getting long term trend right.Long term trend for EURUSD was down in January. Long term trend for USD will soon be down when dollar loses world currency status. The EUR downtrend 2010 was 1000's of pips. The future downtrend on USD will be larger, 7-15 pips per day?

Alternative 1 is to go short with leverage 3, 4000 pips as SL. Alternative 2 is to use an EA like BBS and disable trades in wrong direction. When downtrend does not unfold I do not expect profit. When the downtrend unfolds BBS and similar EA's wil be profitable, 10% per month? This is logically to me.

Other viable alternatives?

I think its possible. Long term trend can be very profitable with a very good trend guiding or detecting system.

[Ghaz]

strange.The original strategy should work on every timeframe, because it works just with movering averages.
Can i use the EA on 1D timeframe?(when i change the time in the settings).Then i would test the strategy with the EA.

At the moment i am using the fozzy strategy http://www.forexfactory.com/showthread.php?t=7984 .
It also uses MA and it works on daily.But it is often so, that you miss an profitable entry or you have the entry but there is no trend.
By the balanced system you can see with the other indicators whats going on.
You can read the thread for inspiration....

bye and thanks!



Florian