Hello again,
Here are the steps and how to use the first EA virsion "BBS_SMA_filter.mq4" ...
The idea behind this version is to enter the market whenever the entry conditions are met and trying to enter when there is a sign of clear trend. Later, we will try to get out as soon as we find that the price of the currency pair is making a retracement. How is that?
*** A small note about the BBS_SMA_filter.mq4 ... This EA enters the market when ever you allow it to trade in the direction of the last moving average cross. It will not wait the next candle open price after the MA's cross. This means that whenever all the system entry requirements are met (but not the MA's cross), the EA will enter the market and will not wait for the cross. So, we will extract the most possible pips from the market.
This is the most important point that makes this EA very profitable.*** Open charts of currencies you like to trade on H4 time frame(I prefer this TF - You can work on lower TF's - The least one I used is H1).
*** I usually open from 8 - 12 charts. Most of them with lower spreads, or, high daily range. You may notice the pairs I use from the previous images I attached.
*** It is prefered to start at London open or later but not at the end of NY as most of currency pairs are exhausted and may be the price exchange rate will retrace back. Try to prevent Tokyo market hours, or you may scalp on this period. I never did that, but I think it is possible!.
*** Un-check the option "Allow live trading" form the MT4 platform and Enable Experts to work normally.*** Now, the EA is ready to detect the chances, but can't enter any position unless we allow to it to trade!.
*** When ever you notice that a recent (may be after few candles) moving averages cross (Red and Yellow) or, the distance between the two MA's is increasing, try to wait the price of the candle going to the direction of the Red MA, this means we are waiting to enter from the best price. If the candle is just opened, you can enter the market soon by checking "Allow live trading" from the expert options of that currency pair, or by pressing F7 then "Allow live trading".
*** Repeat the same procedure for all the currency pairs that they have a good chance to enter.
NEVER enter when the MA lines are going to be closer to each other.*** If you close a currency pair on profit/loss, don't forget to un-check "Allow live trading" to prohibit the EA from opening a new position on the same pair. Later, I can do solve this problem by adding some code, I will do this later to minimize the human work
.
*** If you notice that the MA's are going to be closer to each other, which means a probability of new cross, or it is may be price retracement on lower time frame, you may decide to exit on the profit you get. Most of the time, the loss is considerably not high. So, it is easy to take a decision to accept this loss. Most of the time, I don't take a prompt action, I wait for an hour or two hours to see where is the price going to. The beauty about H4 TF is that you don't need to watch the chart all the time. It is enough to watch once every 2 hours to take an overview about where is your position in the market
. You will feel that you are in control (most of the time).
*** Now, we have had entered in the direction of the trend and the confirmation of the all indicators. In most of the cases, you will notice that the equity will increase in short of time because we already perfectly entered the market with a high percentage rate of sucess. If you decide to extract, for example, 400 or 500 pips a day, then when ever you reach this number of pips, you have to close all your open positions and un-check "Allow live trading" for all the pairs.
The most important point is not to be greedy. Do not increase the # of daily pips until you feel confident to go further. Wait for tomorrow for new entries, and do the same as yesterday.
*** Before start trading, calculate the risk percentage you accept and divide it on the number of currency pairs you will open, so, you can calculate the lot size. Remember all the time, Money Management is the key to sucess in the financial markets. How about having very high profit system and using perfect money management!.The chart below shows how we enter the market (1) when the MA's has value divergence (increasing the distance between Red and Yellow lines). (2) Shows that at the highest high of the candle at the top of channel the distance between Red and Yellow lines was optimum which means that the profit was optimum too. After a few candles, the distance between MA's starts to decrease (means, profit will start to decrease), so, at this point we will try to get out of trading this pair at the best profit we can get. (3) You may be notice that the EA opened a short trade while the Red MA is above Yellow one. This is not a programming mistake. EA opens a trade as soon as it get a confirmation form indicators regardless to the closing of the candles. This means that the price was too low on that candle and the Short position indicator confirmation was triggered. For this reason, Closing the positions on the begining of the decreasing of distance between MA lines is essential for maximum profit, also, un-chicking "Allow live trading" is too important.
- The idea behind getting maximum daily profit !
I did my best to describe the idea. I wish that my language is clear. English is not my mother language!.
