Need EA coded for the community

I have a system that needs to be converted to an EA. I cannot program MQL and have tried Expert Advisor Builders but none have the ability to code the SLs and TPs like the system needs. Probably the most complex part of the EA is the SLs and TPs.

Overall though, it is quite simple and the rules for conditions, entries, and exits can be described in less than 3 lines.

I cannot afford to pay a programmer, so I am asking any coders in the community to volunteer. The EA is to be made available for FREE to all members. I think the system is interesting and worthy of an EA. Personally, I am not a 'believer' in robots but this EA would basically trade as if you were present.

Send me a message if interested. After the EA is coded it will be attached here for all to use freely.

Hi Sean,

I am a MQL developer and I undertake community / open-source projects in my free time. It might be worth considering your ideas / system if rules must be clear cut and logically represented.

Drop me a line at adheer@finstudio.in

Cheers,
Adheer.

Splexin posted:
Overall though, it is quite simple and the rules for conditions, entries, and exits can be described in less than 3 lines.

I cannot afford to pay a programmer, so I am asking any coders in the community to volunteer.

The EA is to be made available for FREE to all members.

I think the system is interesting and worthy of an EA.

Personally, I am not a 'believer' in robots but this EA would basically trade as if you were present.

Send me a message if interested. After the EA is coded it will be attached here for all to use freely.

define member.

Member as in you and anyone else on this site.

It has already been coded and tested as unprofitable. Has low maximum drawdown (<10%) but still only rakes in a $2,000 on a $10,000 account over the span of a year or longer. We are continuing testing to see if we can increase profitability, i.e. grouping profitable trades to see if we can align them to another condition.

Splexin posted: It has already been coded and tested as unprofitable.

no way.

zzzero posted:
    

Splexin posted: It has already been coded and tested as unprofitable.

no way.

Sounds like you have a pessimism complex. Hate to rain on your parade but yes it has.
I went ahead and attached the working version for you to see for yourself. Trades on Daily Chart and tested on EUR/USD.

A pessimism complex, LOL. Not sure Ed is a pessimist.

I ran a 10 year backtest with best precision and indeed it's not the holy grail of systems. Finished at 95%.
If the idea is indeed 3 lines, you could share it here and see if someone will code it for you.

speki posted:
    A pessimism complex, LOL. Not sure Ed is a pessimist.

I ran a 10 year backtest with best precision and indeed it's not the holy grail of systems. Finished at 95%.
If the idea is indeed 3 lines, you could share it here and see if someone will code it for you.

Every thread needs humor 😁

OK. Here are the rules:

LONG- previous candle close > 50-SMA. Entry point <=61.8% Fibonacci level of previous candle. Stop loss = 25.0% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.

SHORT- previous candle close < 50-SMA. Entry point >=25.0% Fibonacci level of previous candle. Stop loss = 61.8% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.

Only one trade (or none at all) per day allowed, regardless of win or lose. If previous candle is bearish in a bullish zone (above 50 SMA), then no trade today. Vice versa for the bearish zone. Trade lot size is fixed (only 0.10 in the EA, but I have tried it with standard size and it works better), but I think ratio sizing would probably be more efficient.

Perhaps that's more than 3 lines but it depends on the width of your monitor 😄

See attached example I wrote out for the coder. Excuse the messy writing, I was using my mouse.
😀

As you can see, an order would not have been placed 'today' because it did not retrace to our entry price. Had it hit our price, the TP would've been 107 pips since that is the ATR and it takes precedence over the SL x 2 rule, which would've made the TP 120 pips. Had we hit our entry price we would've also hit our TP for the day....107+ pips!

Please have a look at the Insert menu of your Metatrader. You can put text labels and many other things on the chart.
Also, I think you swapped the long and short entry levels? Long at 61.8%? It's at 25 % on the chart.

Well this is fairly simple, shall I say almost mechanical, not sure why none of the MQL geeks came up with a profitable EA?
But since it should be traded on the daily, you could put in the limit orders once a day manually, if you're sure it's profitable.

Anyway, thanks for sharing, may I offer a few other, non-profitable EAs in return? 😁
Let's see if any of the coders will be interested in this idea!

speki posted:
    Please have a look at the Insert menu of your Metatrader. You can put text labels and many other things on the chart.
Also, I think you swapped the long and short entry levels? Long at 61.8%? It's at 25 % on the chart.

Ah, thank you for pointing that out. I was kind of in a hurry and didn't even think of using the text labels 😁

You're right about me inadvertently switching the entry points!

It's suppose to be--

LONG- previous candle close > 50-SMA. Entry point <=25.0% Fibonacci level of previous candle. Stop loss = 61.8% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.

SHORT- previous candle close < 50-SMA. Entry point >=61.8% Fibonacci level of previous candle. Stop loss = 25.0% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.

😄

speki posted:
Well this is fairly simple, shall I say almost mechanical, not sure why none of the MQL geeks came up with a profitable EA?
But since it should be traded on the daily, you could put in the limit orders once a day manually, if you're sure it's profitable.

Only one coder worked on it. At first it was horrible but improved when we made 'one trade/day or none' rule. We discussed grouping the profitable trades to see if they would correspond with a RSI or Stochastic etc

Yes, the system is designed to be traded manually, I was just curious how it would perform as an EA.
Basically you spend 10-15 minutes a day max looking at charts, then either place limit order or stay out for the day.
Number of winners and losers are 'supposed' to be 50/50, with the size of winners larger. Huge gains are not a priority of this system. It's generally meant to be a quick and effortless way of gaining about 10-15% a month.

Ok, let's wait and see if there's a coder around who's willing to give it a try.

Splexin posted:
 It's generally meant to be a quick and effortless way of gaining about 10-15% a month.

LMAO. I'd be happy with a quick and effortless way of gaining only about 5 % a month.
Anyway, what position sizing do you recommend?

speki posted:
Anyway, what position sizing do you recommend?

😁

Well, the position sizing should be set according to your own money management rules. But a good risk/reward rule for this system is to only trade ten times your account balance (balance, not equity).

So if you have a $10,000 account then you would trade 1 lot on every trade, $20,000 then 2 lots, etc. For experimentation and testing purposes it's good to start out with 0.10 position sizes just to get an idea of how it works.

It is designed to be used on the EUR/USD, GBP/USD, USD/JPY, and AUD/USD, in that order.
Have only tried it thoroughly on the Euro.

Aren't we talking about this EA?

https://forum.mql4.com/40327/page2

Sorry I'm off to have an excellent Friday night now, don't have time to read all 3 pages there, but it seems it's exactly your system and they sorted it out.

laters

speki posted:
    Aren't we talking about this EA?

https://forum.mql4.com/40327/page2

Sorry I'm off to have an excellent Friday night now, don't have time to read all 3 pages there, but it seems it's exactly your system and they sorted it out.

laters

Yes, that's right. I already said it had been coded and tested unprofitable. 😁

Aight, peepingtom. I can't help you with the code, but lemme ask - how did you get that supposed monthly 10-15% profit figure? Where's the system from anyways?

speki posted:
    Aight, peepingtom. I can't help you with the code, but lemme ask - how did you get that supposed monthly 10-15% profit figure? Where's the system from anyways?

I got the figure from someone who has actually traded the system live. The system came from a former bank trader, and as far as I know you can't find it online anywhere (?).

I swear to God I've recently read about a 'former bank trader' who shared his manual system here. Too lazy to start sievin thru the posts. You could've saved us all some time Sean if you tell the whole story. Why did that other chap call you Sean anyway? I don't see 'Sean' anywhere in your profile or here in the thread.

Ah, nevermind. Lenka's second album just came out,it's fuckin genius. Don't miss it. She's my astro twin by the way. Not that you'd care LOL.

speki posted:
    I swear to God I've recently read about a 'former bank trader' who shared his manual system here. Too lazy to start sievin thru the posts. You could've saved us all some time Sean if you tell the whole story. Why did that other chap call you Sean anyway? I don't see 'Sean' anywhere in your profile or here in the thread.

I actually hesitated in saying 'former bank trader' because all the systems seem to come from 'former bank traders,' when we ALL know that's a bunch of baloney. I got the system by word of mouth offline, that's the whole story. So I don't know who or what or where exactly it came from. I know it hasn't been shared here already though.

I had Sean as part of my username but then just decided to keep it all Splexin. Sounds cooler 😄

Lenka almost looks/sounds like Katy Perry 😁