Daily Breakout with TP & SL Fibonacci Ra
I'd like to explore an extension to the interesting thread "Simple Monday-Tuesday System" started by EA that was generously created and shared by 4ecstacy and Sangui. The current version of Sangui's EA is (and attached below):
https://www.forexfactory.com/showthr...3#post12732723
The approach to this thread is to trade based on the breakout of the Monday/Tuesday high/low range. Entry, Take Profit and Stop Loss are based on Fibonacci percentage levels.
What I want to try is not the Monday/Tuesday range, but a modification of Sangui's EA to trade each day based on the previous day's range.
Modify the EA to daily breakouts. The range of Monday and Friday, the range of Tuesday and Monday, the range of Wednesday and Tuesday, the range of Thursday and Wednesday, etc.
Use Fibonacci retracements with erebus settings: entry high and low = 0%, TP = 25%, SL = 50%,
Manual testing shows a high percentage of winning days.
You can quickly test this with Fibo using the erebus setup: Hi & Low Entry = 0%, TP = 25%, SL = 50%, and loop over any day and week in history.
Ask a programmer for help:
1. The main EA enhancement request is to modify the EA to trade daily with the previous day's range? Monday and Friday, Tuesday and Monday, Wednesday and Tuesday, etc.
2. The auxiliary EA is required to be able to carry out multiple buy stop and sell stop transactions, while high/low entry = 0%, TP is #1=25%, #2=50%, #3=100% (user selects %s).
When position #1 reaches TP at 25%, move positions #2 and #3 SL to 5% or 10%.
When/if #2 reaches TP 50%, move position #3 SL to 25%.
As a footnote for requests to open multiple trades, for Americans the EA will have to change the lot size and/or entry price for each order.
For example:
Lot size changes: #1 = 0.13 lots, #2 = 0.12 lots, #3 = 0.11 lots.
Entry price changes: #1 = 1.12303, #2 = 1.12304, #2 = 1.12305.
Thank you again for your consideration.
Example:
https://www.forexfactory.com/showthr...3#post12732723
The approach to this thread is to trade based on the breakout of the Monday/Tuesday high/low range. Entry, Take Profit and Stop Loss are based on Fibonacci percentage levels.
What I want to try is not the Monday/Tuesday range, but a modification of Sangui's EA to trade each day based on the previous day's range.
Modify the EA to daily breakouts. The range of Monday and Friday, the range of Tuesday and Monday, the range of Wednesday and Tuesday, the range of Thursday and Wednesday, etc.
Use Fibonacci retracements with erebus settings: entry high and low = 0%, TP = 25%, SL = 50%,
Manual testing shows a high percentage of winning days.
You can quickly test this with Fibo using the erebus setup: Hi & Low Entry = 0%, TP = 25%, SL = 50%, and loop over any day and week in history.
Ask a programmer for help:
1. The main EA enhancement request is to modify the EA to trade daily with the previous day's range? Monday and Friday, Tuesday and Monday, Wednesday and Tuesday, etc.
2. The auxiliary EA is required to be able to carry out multiple buy stop and sell stop transactions, while high/low entry = 0%, TP is #1=25%, #2=50%, #3=100% (user selects %s).
When position #1 reaches TP at 25%, move positions #2 and #3 SL to 5% or 10%.
When/if #2 reaches TP 50%, move position #3 SL to 25%.
As a footnote for requests to open multiple trades, for Americans the EA will have to change the lot size and/or entry price for each order.
For example:
Lot size changes: #1 = 0.13 lots, #2 = 0.12 lots, #3 = 0.11 lots.
Entry price changes: #1 = 1.12303, #2 = 1.12304, #2 = 1.12305.
Thank you again for your consideration.
Example:
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