Simple H1 GBPUSD EA (Simple H1 GBPUSD EA) - MT4/MT5 Resources

This is a very simple yet profitable strategy that anyone can follow to earn an average of 50 to 100 points per week.
Trading can be done manually or using the included EA.

I noticed that between the New York close and the Tokyo open, regardless of the trend,
The market seemed to follow this trend for a few hours.

Of course, it doesn't always work, but I've had over 90% positive results.

Place your order one hour before the Tokyo session opens.

The strategy is simple, with only two indicators, 10 SMA and 197 SMA.
If the slopes of both are positive, place a long order.
If the slopes of both are negative, place a short order.
(Using EA is very conservative and does not trade frequently.)

More information simplyH1GBPUSDea.pdf

Posts deemed irrelevant and/or misleading by the post originator will be automatically removed.
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Manual traders can use only the 10 SMA slope between the New York Close and the Tokyo Open and use their own judgment to decide on entry points.
The Tokyo session market often goes against this strategy but gives the manual trader an opportunity to find better entry points at higher points than those used by the EA.

For more information on manual trading, this pdf file was produced by calstock:
Simple H1 Manual Trading.pdf

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I prefer to place 2 orders with half lot size, the first order closes at +22
When TP1 is reached, move the second order SL to BE and let it run.
SL is large at 140 per order but anything less will result in more losing trades,
If you are not happy with a stop loss of 140, then your lot size is too large and should be reduced to a level you are comfortable with.

The accompanying EA gives good results.
It will work with 4 or 5 digit brokers, standard, mini or micro accounts and works with ECN brokers.

Check out the backtest, you'll be surprised how well it works!

Set GMT offset.

1. Broker time is offset + or - x hours from GMT

Therefore, set the GMT offset to this + or - x hours value.

So you've compensated for the difference between broker time and GMT,
So you can now specify all times as GMT.

2. The Tokyo trading session starts at 0:00 GMT, but I use candles before that, which is 23:00 GMT.

So the start time is set to 23 in the code.

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For information about GMT, please visit http://wwp.greenwichmeantime.com/

Here are some examples of GMT offsets:

Avery: GMT +2
Axis:GMT
ACT Broker: -4
CFGTrader: GMT +2
CoesFX: GMT +3
Fibo Group: GMT +2
Forex Network : GMT Forex Limited: GMT +2
FXCM Trader 4: GMT -4
FXCM MT4 is powered by BT: GMT +1
FXDD: GMT +3
Gomarkets GMT+2
IBFX: Greenwich Mean Time Makitiwa GMT
Yuan quote: GMT +2
MoneyTec: GMT +3
Netdania Chart GMT -8
Northern Finance: GMT+2
Oanda GMT-5
Orion: GMT +4
Actual transaction: GMT +2

Add to this list or edit any errors.
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The latest version of EA is TOKYO_H1GBPUSD_EA has been completely rewritten by piptician developers and has added many new features.
This version can handle 1, 2 or 3 transactions, and a .set file for each transaction is included in the preset .zip file.

Live Trading Risk Disclaimer
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When connecting an EA to a chart for the first time, a warning dialog pops up telling the user that if they use the EA in live trading they do so at their own risk - see function liveTradingDisclaimerAccepted()
View the full warning.

new parameters
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GBPUSD_ONLY = true If this is true, this EA will only work when attached to the GBPUSD chart. If you attach it to the wrong chart or timeframe, then a warning message will appear and
The EA will be aborted.

Use user defined max lot size = true allows users to define their own lot size limit
Maximum lot size for external dual users = 0.1

Slippage = 3 How much slippage is allowed when opening a new position

Order retry limit = 5 Number of retries to open/modify positions

Order retry millisecond delay = 1000 How long to wait before retrying to open/modify a position. (1000 = 1 second)

Electronic communication network = false 'false' means opening a position with SL/TP (1 step), 'true' means opening a position with zero SL/SP and then modifying it
Sequence (2 steps)

A vertical line on the chart showing different market opening times maybe this would help sort out all the time zone confusion...)

ShowTokyoOpen = true
Tokyo opening color = red

showFrankfurtOpen =True
Frankfurt Color Open = Orange

ShowLondon Open =True
London Open Color = Blue

ShowNewYorkOpen = True
New YorkOpenColor = Purple

In addition to logs/log files, there are various other ways to report problems to users

Question using textlabel =true adds a big red text label at the top of the chart
Issues using comments = true adds a comment describing the issue
Question send email using email = false
Maximum number of messages = send up to 25 emails (prevents email inbox explosion)

Tokyo_GBPUSD_H1_v11

1. GBPUSD symbol names with extra characters are now handled
2. The problem of not tracking stop loss when setting a single order has been fixed
3. An issue with Level 3 settings tracking the Stop Loss at Level 3 instead of once has been fixed
4. New parameters for specifying market opening times for Tokyo Open , Frankfurt Open , London Opening Hours and New York Opening Hours (these default to Alpari UK Time, or CET, which is London + 1 hour)
5. New server-friendliness parameters Order sending millisecond delay It specifies the time delay between sending each order Order modification millisecond delay It specifies the time to wait between modifying orders, i.e. trailing stop (all previous EA versions had trailing stop on every price move, which caused the server to be overloaded).

Tokyo_GBPUSD_H1_v12 which has new option to allow weekend trading .
There are also some small adjustments:
For some brokers, the price, stop loss and take profit values ​​must be normalized to the number of digits supported by the broker, otherwise you may get stop loss/price/take profit errors in invalid logs.
(Alpari and others standardize on the server side, but some don't).

TOKYO_GBPUSD_H1_v13 It can be run on the 5 minute chart, producing exactly the same trades as when run on the 1 hour chart. Obviously, on the 5-minute chart you can see more candle detail. Tokyo 13 will add various annotations that clearly show where the relevant fractals are and how the simple moving averages are pointing and whether the desired 5 minute fractal occurs before the 1 hour trading window closes (draw a vertical line to show the trading window closing time). If you see two arrows pointing in the same direction (the moving average points in the same direction) and you give it three thumbs up
The transaction will then be initiated. If you hover over the tip of the arrow/thumb/fractal, a tooltip will appear describing the annotation.

Tokyo_GBPUSD_H1_v14
Contains some small changes that are expected to solve the "order modification too fast" problem that caused the trailing stop to not be modified in V13.

Tokyo_GBPUSD_H1_v15
When trailing a stop, it now follows the broker's minimum stop level (fixed invalid stop error)
When trailing a stop, it checks if the order has not been closed yet (fixes invalid ticket bug)
Annotation positioning now handles 4 brokers (fixes issue with 4 brokers not showing Fractal/Arrow/Thumb)
Fast and Slow SMA are now displayed on the 5-minute chart (lines are drawn between hourly SMA values ​​- the last line automatically updates as new quotes appear)
Draw a vertical line to show the Start_Time time setting:

Tokyo_GBPUSD_H1_v16
Although Trailing Stop now follows MODE_FREEZELVEL (positions cannot be modified if too close to TP or SL levels - to avoid Trailing Stop error messages with some brokers).
Fixed placement issue of M15 fractal triangle on M5 chart (sometimes off by one or two bars).
The SMA line on the M5 chart now predicts the future of the next H1 bar.
If the M15 triangle is unlocked, it will turn hot pink. An unlocked M15 fractal can cause the fractal thumb to change from a thumbs up to a thumbs down.
EA annotations now show total risk in account currency, total risk percentage and risk percentage for each position.
Annotated Profit/Loss now has the option to include pips and lots per position, e.g. +15.76 (22.0 pips 0.01 lots)

Tokyo_GBPUSD_H1_v17
Control timed exit through 2 new parameters
int PositionMaxOpenHours = 7;
int PositionMaxOpenHoursMinProfit = 8; // If you want to exit with a loss, it can be negative...
EA annotation now shows total potential Profit per position Fixed issue with trailing stop loss. If position 1 hits its TP level, but the price reverses sharply, and the EA is triggered after the price falls from the TP1 level, the stop loss may not be tracked.
EA has the option to check the integrity of H1, M15 and M5 data to identify vulnerabilities in the data older than a user-specified number of days. This check is turned off by default because downloading historical data may cause holes in your live chart data, and refreshing live charts may cause holes in your historical data! This is what I think about Alpari UK.
int MaxDataGapSizeInDays = 100000; // Only checked when initializing the EA.

Tokyo_GBPUSD_v17a
Tokyo17a solves the issue of timed exits, only if you have set the trailing stop option to true.
If you use a 3 location setup, the timed exit will not work for the 3rd location.

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New to EA?
For basic information on how to load an EA into the MT4 platform, please visit post #4801.

To run the EA, download the .ex4 file, place it in the Experts folder and restart MT4.

C program file MetaTraderexperts

Download the preset .zip file and extract it to your desktop, then move all .set files to:

C program file MetaTraderexpertspresets

Connect the EA to the chart and press the "Load" button on the settings to bring up the dialog box and select the appropriate .set file.

The only setting you need to change is your broker's GMT offset.

Default file:
#1 order set file based on v4 16/197 SMA, TP 80, SL 120, TSL 9
#2 order set file based on v9 10/197 SMA, TP1 22, TP2 47, SL 140, TSL 22
#3 order set file based on camvzvoo 10/197 SMA, TP1 22, TP2 50, TP3 80, SL 140, TSL 22
(TSL on #3 is only for second order, exactly the same as on #2.
However, the third order does not have a trailing stop and the stop is moved to +10
When a first order TP is hit and remains there, it does not trail. )

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This EA is for educational purposes only. By downloading and using this
EA You do this entirely at your own risk and you are responsible for any losses you incur. There may be fees for using this EA in live trading.

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The M5 chart shows how Tokyo v17a displays transaction details for 3 orders.