EA for Beginners, set and forget breakout, code, optimisation, testing part 6/8
Вставка
- Опубліковано 4 жов 2024
- Not much code in this part, just some explanation and a little optimisation. Going back to basics for a beginners coding guide, I'm writing a complete breakout expert based on a published strategy including tips and optimisation.
Part 6 of 8
The strategy was published by TradePro and is a time range based breakout trading USDJPY with 3 stage take profit.
As a beginners guide I'm taking things slowly so I have to break the tutorial down to multiple videos. This is the first part and there is a link to the playlist below. I will add further parts to the playlist in the coming days.
The code is for Metatrader 5 but is almost the same for Metatrader 4 and I'll try to point out the differences as I go in the videos
Looking for a broker? Support the channel by using this link. We receive a commission on your trades from the broker at no cost to you:
orchardforex.c...
Links:
Original Strategy Video: • 100 PIPS A DAY Highly ...
Earlier range breakout: • Time Range Breakout Ex...
Time entry formats: • Add this code to your ...
Web Page: orchardforex.c...
Discord: orchardforex.c...
Playlist for this series: • Set and Forget Breakout
#Breakout #Forex #metatrader #expert #finance
XAUUSD, DOW, Dax & Nas100 all had pretty good results on the default settings some better than others. Thanks for the in depth tutorial.
I really enjoyed your insightful commentary on trade methodology, risk management, and expert optimization.
Great to hear!
Great explanation on the different results set, very insightful. Thank you!
Glad it was helpful!
Wow, Very insightful. Thanks!
As usual, a very interesting & valuable video. optimisation method is a huge part of the success, you perfectly demonstrate that. Regarding the volume size, what I see sometimes is a "progressive" increase, something like fix size for a certain amount of balance or equity. For instance 0.01 every 1k. Maybe there is something to code to manage correctly the trigger to raise the volume up and down.
Yes, but in real life I can always do that manually. It would mainly be for the strategy tester.
This can also be easily achieved by dividing equity by say 1,000 and then multiply the result by 0.01, also you should not forget to test if the lot size is greater than the minimum and less than the maximum lot. You should also not forget to normalize your calculated lot size to avoid invalid volume error.
Cheers
very useful, thanks.
You're welcome!
Thanks again Arthur. My graph of equity looks similar to yours, but my data must be much better as it made a $40,000 profit ! My original run was using standard metatrader data and that lost. Using one minute data and 1 minute OHLC modelling gives a different profit from "Every Tick" modelling. Have you done a video or series on backtesting settings and data ? If not, I think that could be very enlightening for us
I don't have a video like that but different data will give different results as you saw.
There are 2 types òf breakout .
Manipulation and distribution
When a market is said to be Ranging what I understand by that to mean is that the price action is essentially horizontal within a narrowish band between some support and resistance.
How (what indicators or means are there) do you determine the start of a Ranging market so that you can prepare yourself for a Breakout?
I gather that a 'Time Range' is one that is known to occur at a specific time within a trading period. How are these 'Time Ranges' identified?
I'm a bit confused: @20:13 does the "Risk Percent" pertain to the Tp/sl or does the EA simply close the trade automatically if the EA detects a 1% loss in the Account Equity regardless of whether a stop loss is applied/not?
Sorry, but I'm not sure why the chart history data is relevant to the tester. To my understanding, the chart data is held in the History folder, so it is only used to form the candles, but the tester (in Every tick based on real ticks mode) uses tick data, which is downloaded separately from the history data.
They both come from the same data source.
@@gonzela2006 Of course you are correct. I missed that for MT5.
@@gonzela2006 I'll probably mention it a a follow up in the final part but all this does is introduce different data and you can always run the test yourself. You can still get missing data depending on the broker. I tested several and found they can have different amounts of data available.
I have followed the video, series and rewatched the again. for some reason the code on the mqh file, result into [Invalid stops]. can you clarify me where is my error or at least make a video, where you run through the code slowly so that i can see my own error comparing with your code. Unfortunately UA-cam does not allow me to post the entire code here.
The same answer I gave to this comment in part 5 (except there was no new code so no download for part 6, you will have to go back to part 5)