Basic Balanced System (Expert Advisor included)

[Onyebuchim]

Hi,

As at now, I've seen some possible setups in the EURUSD H1, GBPJPY H1 and USDCAD H1 although the USDCAD H1 is below 20 which is risky. I activated the EA to run some tests on this pairs. nothing yet but i guess the coded rules must be met before it can jump in.

[Oshaban]

Hi,

Well for now i really cannot suggest if the 20SMA Filter could be the problem bcos i have not used the EA extensively. All the same i see a lot of potential in it and i'm striving hard to get used to it.

Is it ok to manually move the stop level to protect profits rather than waiting until the Trailing Stop is triggered?

Secondly i think leaving the EA Active would not have any bad effect bcos it wont take any trade without the correct entry rules.

Today i had my first positive trade on the AUDUSD h1 which is still on and i feel like moving the stop upwards to secure the profit but the profit is still below 100 pips.

Ok, let me to remove the SMA100 filter and evaluate the EA. Also, I will widen the stochastic levels and make the range from 10 to 90. Let us go from here. Sure, we will get more trades than the recent copy. You will find the ea and the template at the bottom of this post.

For removing the protective stop, yes, you may remove the SL to the level you think the price hardly will return back to. Mostly, you should put it above the nearest support or resistance, ...
I also do that from time to time and I believe that I should do that all the time.

Happy pips

[Oshaban]

Hi,

As at now, I've seen some possible setups in the EURUSD H1, GBPJPY H1 and USDCAD H1 although the USDCAD H1 is below 20 which is risky. I activated the EA to run some tests on this pairs. nothing yet but i guess the coded rules must be met before it can jump in.

Yes. Sure the ea will not open an new position if all the rules are met.

I forgot to attache the new code I mentioned above with the template.

Please give me few minutes to recode it.

[Oshaban]

Here we go ...

The new code for the EA second version with the following changes,

- SMA100 is removed.
- Stochastic levels are 10 & 90

BBS_NF_10_90_v2.mql >>> NF stands for No Filter (SMA).
v2 >>> Second version of EA which waits to enter after the EMA cross. Less entries than first version

BBS_NF_10_90_v2.mq4

No SMA filter - Stochastic levels 10 & 90

(5.55 KiB) Downloaded 1508 times

bbs_nf_10_90_v2.tpl

Template for EA

(19.94 KiB) Downloaded 1383 times

[Traveller]

Thank you!
Very interesting.

[Oshaban]

Thank you!
Very interesting.

Thanks Traveller. You are welcome.

[Onyebuchim]

Thanks for the remodification. Although i was thinking filters like the 100, 150 and 200SMAs are good for filters to divide the BUY from the SELL Region. But lets see what this would look like.

I'll place the new version on some pairs and leave the older version on other pairs to compare the difference.

Meanwhile the AUDUSD H1 is still on and i had to reduce the Trailing Stop to 15 points rather than the 80 points since it has gone over 100 pips and hanging around that area.

The EA (old version) picked a trade on the EURUSD H1. From my observation it entered according to the rules although the Gap between both MA lines were not sufficient. Is this ok?

[Onyebuchim]

Hi,

Update on my trades with the previous EA.

AUDUSD H1 - 53 pips : I should have taken the profit when it got over 110 pips. I've noticed the trailing stop in the EA seem not to be working. Can you programme the EA to take off fractional profits and continue until it finally closes
e.g Price at 120 pips, EA takes off 100 pips and continues with a SL there leaving a balance of 20 pips . . . . . . . . .
So finally AUDUSD H1 was 53 pips (should have done better)

Presently GBYJPY H1 (Previous Version) is currently on 103 pips and i also noticed the inbuilt trailing stop did not trigger so i had to manually set a trailing stop of 15points. I'm still waiting to see how it turns.

Presently EURUSD H1 (Previous Version) currently at 7 pips, stochastic heading close to 80.

Overall, one of the biggest challenge is self control and when to take the best pips before lossing more.

[Onyebuchim]

UPDATE

GBPJPY H1(Previous Version) - Ended below 100 pips ($70.92) by the trailing stop of 15 points i manually put myself. I'd would have allowed it to go on but i needed something to convince me it would have gone beyond 100pips. I hope i didnt get out too early.

The EA (previous version) took wrong trades in some pairs (My fault) i forgot to deactivate the "Allow Live Trading". I was actually experimenting the set and forget.

[Oshaban]

Thanks for the remodification. Although i was thinking filters like the 100, 150 and 200SMAs are good for filters to divide the BUY from the SELL Region. But lets see what this would look like.

I'll place the new version on some pairs and leave the older version on other pairs to compare the difference.

Meanwhile the AUDUSD H1 is still on and i had to reduce the Trailing Stop to 15 points rather than the 80 points since it has gone over 100 pips and hanging around that area.

The EA (old version) picked a trade on the EURUSD H1. From my observation it entered according to the rules although the Gap between both MA lines were not sufficient. Is this ok?

The EA will only check the direction of the trade (long or short) and will not evaluate if it is god trade or not. Evaluation should be done by you. For this reason the first version should work manually. You should enable/disable allow live trading to make the ea to check the other requirements.

The MA entry evaluation can be done by programming, but I'm afraid this will give the ea more restrictions to open a new trade which may be results to very low number of trades or false entries specially if I make the ea evaluate the MA's at the close of every bar. Imaging if this happened after H4 close and that bar has high range. In this case we will enter the trade too late and will face the problem of the price retrace to the opposite direction of the trade!.