Basic Balanced System (Expert Advisor included)

[gogoprovost]

Hi Osama,

I looked at your thread and EA looks interesting. Can you explain your full strategy for this EA, does it use just 2 EMAs? In short if I understand all I have to do is to check visually if EMAs are pointing up and have fairly good angle and separation on 4H charts few hours after London open, and if looks good then "allow live trading" and EA will trade? Another question is this just simple EMA cross when why not use a trade manager EA and enter manually as it will be same thing, or does EA check more conditions to enter a trade? Does EA set stops and targets by itself or it has to be done manually? Does EA have a trailing stop and break even point at which trades are moved to break even once in profit? Does EA have % risk input per trade or is it all have to be done manually?

You read my mind friend! I'd like to know this as well

[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

bbs_nf_10_90_v2.tpl

Wich ea is better? this new ea with nf?
or the ea with the sma Filter?
regards steve

All versions are ok, but for sure they will give different performance. I'm happy with all EA's that they have no _v2.

[Oshaban]

Results for less than 2 days trading of a freind of mine his name is Khalid at arabictrader.com forum.

Notice that, too many opened lots because of the brokers high leverage and as much as the equity was in profit, the avaliable margin was growing so, it was a chance to open more trades.

Happy pips
O. Shaban

KhalidArabicTrader.gif

I'm not suprised with the result. Its a fantastic one. Thats the potentials of a good moving average system complemented with your EA which makes the work simple.

The Account size was a factor that led to the huge profits in your friends trade. What i love about a good Moving Average strategy is that you're sure of making 7 or 8 good trades out of ten trades and with good leverage and account size, an account can double its size in less than a day.

But remember that doubling the account within a day is too risky!.

[Oshaban]

I downloaded this yesterday when the market was opening, and till now there has been no trade, did I do anything wrong? But I see a "smiley" next to the BBS_SMA_filter at the right upper corner. I already checked the option "Allow Live Trading." Bytheway, what TP do you and settings do you use?

Raggy,
As I mentioned before that I need sometime to re-check all the codes again. I guess that I should work on only one version who can work on 4 and 5 digits brokers. Or, 2 indentical EA copies can work on 4 and 5 digits respectively.

So, for the time being, please try to test on an other broker using different number of digits!.

I'm using the default settings.

[Oshaban]

Hello Oshaban and everyone,

The results of this system are nothing short of extraordinary. However I'm still not sure about some points.

- What version is the best? I think you said the first one, is it BBS_SMA_FILTER that you posted on the first page?

- Once I have put the EA on a chart and I've put the timeframe value to 0, will it take trades automatically or does it only alert me?

- Does the EA take trade only on the EMA cross or does it evaluate the Stochastics and the RSI before it give a valid signal?

- Where is the RSI? It's number appears on the upper left corner but i don't see it's graphic and it does not appear in the indicator list.

- I've put it on 12 charts and the arrows only appear on USD/JPY and EUR/USD... Why is that?

Sorry for all the questions but I really want to understand and hopefully have half the results you have. Thanks for your help

Any version which is not including version number is version 1, either have a filter or no.
For the time being, version 1 without filter is the best if you keep collecting profit according to the description I wrote in the frist page.
The ea will evaluate will not enter by evaluating the EMA direction only. It should evaluate the other indicators.
Rsi is calculated internally and shown on the chart to minimize the number of indicators on chart. It is the same.
The EA works the same even if you remove all the indicators from chart. It calculated everything internally.
About the arrows on EURUSD and USDJPY, do you have any opened trades? if yes, it is the opened trades open price/close price!
If you don;t have any opened trade you may put the mouse cursor on that allo and reat the ticket number, then check the account for that ticket.

[Oshaban]

Hello Oshaban and everyone,

The results of this system are nothing short of extraordinary. However I'm still not sure about some points.

- What version is the best? I think you said the first one, is it BBS_SMA_FILTER that you posted on the first page?

- Once I have put the EA on a chart and I've put the timeframe value to 0, will it take trades automatically or does it only alert me?

- Does the EA take trade only on the EMA cross or does it evaluate the Stochastics and the RSI before it give a valid signal?

- Where is the RSI? It's number appears on the upper left corner but i don't see it's graphic and it does not appear in the indicator list.

- I've put it on 12 charts and the arrows only appear on USD/JPY and EUR/USD... Why is that?


Sorry for all the questions but I really want to understand and hopefully have half the results you have. Thanks for your help

Hi,

Very Very Good Question. Well for me as a user i've found the first EA as the best although i've not tested the second EA. Going by the logic of the design as said by Oshaban, the First EA allows more trade with a Filter but u have to study the market for an entry before allowing the EA to take a trade (Complex). The second version enables you to set the EA and allow it watch the market for an entry without your intervention but less trades and lesser profits.

The First Version would not trade automatically unless you activate the "Allow Live Trading Option" in the settings. It does not give an alert but i think Oshaban should think of that to enable users permit a trade or not should in case a user forgets to turn off the EA after trading.

- Does the EA take trade only on the EMA cross or does it evaluate the Stochastics and the RSI before it give a valid signal? Oshaban needs to clear on this or if you're good in MQL programming, you might need to read the code.

Where is the RSI? It's number appears on the upper left corner but i don't see it's graphic and it does not appear in the indicator list Yes the RSI is at the upper corner and i think its a welcome idea since the index or value is what we need for a decision. Moreover the chart has lots of space since the indicator graphic is not plotted in the chart. Its neater and simpler that way. But plotting the RSI into the chart would not affect the trade or chart anyway

I've put it on 12 charts and the arrows only appear on USD/JPY and EUR/USD... Why is that? What arrows? do you mean the smileys

These are my views as a user of the system. Oshaban would be in the best position to explain better.

Onyebuchim,
Thank you very much for your answers. I already answered gogoprovost questions again because I didn't noticed yours as usual
Thanks again and please keep the good work going.

O. Shaban

[gogoprovost]

Thanks for your quick replies guys I'll play with it to make sure I understand. Do you still have as much succes as before? Any more inspiring screenshots lol?

[Oshaban]

Thanks for the quick reply

By arrows I mean the same arrows that are shown in the first post of this tread.

I know nothing of the MQL programming, sorry.

So that's not a fully automatuic EA, it just send alerts when all the condiditons are met, but if you've said yes to allow live trading, it will take a position without your confirmation. Am I right?

Not sure if the quesion about arrows is answered or not yet, but let me answer becaue I know exactly from where they come.

The too many arrows are on the chart because I have been testing the code of the ea specially on M1 chart to have quick entries and exits to check if there is any problem in runing the ea.
So, don't care about them, please.

[Oshaban]

So that's not a fully automatuic EA, it just send alerts when all the condiditons are met, but if you've said yes to allow live trading, it will take a position without your confirmation. Am I right?

You are right.

[Oshaban]

Hi Osama,

I looked at your thread and EA looks interesting. Can you explain your full strategy for this EA, does it use just 2 EMAs? In short if I understand all I have to do is to check visually if EMAs are pointing up and have fairly good angle and separation on 4H charts few hours after London open, and if looks good then "allow live trading" and EA will trade? Another question is this just simple EMA cross when why not use a trade manager EA and enter manually as it will be same thing, or does EA check more conditions to enter a trade? Does EA set stops and targets by itself or it has to be done manually? Does EA have a trailing stop and break even point at which trades are moved to break even once in profit? Does EA have % risk input per trade or is it all have to be done manually?

You read my mind friend! I'd like to know this as well

For full strategy, you may go to http://forex-strategies-revealed.com/tr ... icbalanced

Waiting London open or few hours later is not essential, but it is good time to trade. As long as you feel the market moved a little, you can jump and follow the train.
Yes, ea check the other strategy conditions and sending SL, TP and trailling stops (this is not functioning well- I will do it later).
EA has money management option, but for the time being, please don't enable it because it will not distribute the risk to all open positions equally.
I already programmed money management code, it is efficient and safe but I will keep it to the last version.