Jimmy Noodles TRACER EA (Jimmy Noodles TRACER EA) - MT4/MT5 Resources

________________________________________________________________________________________________________

Please check the EA I wrote in the attachment.
It is called Tracer EA (short for Trend Retracement).

It is designed to work on the EUR/USD 15M chart, but I think with the right settings it can also work on the GBP/USD 15M chart as well as the EUR/USD 5M and GBP/USD 5M charts.

Please feel free to backtest the EA and post your findings in this post so we can find the best settings.

settings and how they work.

Here are the EA inputs:

Magic number:
Self-explanatory

ECN Brokers:
If you use an ECN broker, set this to true. If not, don't.

External double batch:
Lot Size - Default 0.01

External double stop loss margin:
The EA sets the stop loss at the high of the last swing high/low. This number is the number of additional pips from the high/low where the stop loss is set. Default is 1 PIP (E/U is 0.0001).

External double take profit multiplier:
The EA sets the Take Profit by multiplying the Stop Loss distance by this number. Think of it as an R:R setup. The default value is 3, with a risk-to-reward ratio of 1:3.

extern int slippage:
Maximum allowable slip. Default = 3 (3 PIPS).

The EA uses three different MAs to determine trend direction and strength. Fast moving averages, slower moving averages and even slower trending moving averages. Below are the default settings that worked best in backtesting, but please test further. The MA period is self-explanatory. MA offset is best left at 0. For MA method, 1 = ema, 0 = sma. MA price 1 = closing price.

External link g Remark2 = "== Fast MA setting==";
external int MA1Period = 20;
int MA1Shift = 0;
int MA1 method = 1;
int MA1 price = 0;

extern string Remark3 = "== Slow MA settings==";
external int MA2Period = 60;
int MA2Shift = 0;
int MA2 method = 1;
int MA2 price = 0;

extern string Remark4 = "== Trend MA settings==";
external int MATrendperiod = 70;
int MATrendshift = 0;
int MATrend method = 0;
int MATrendprice = 0;

The last 2 inputs are:

External double minimum gap distance = 0.00030;
This determines the minimum gap distance between the fast and slow moving averages required for the EA to trade. In my backtesting, the default proved to be the best, but we may find something better.

External double minimum gap distance 2 = 0.00010;
This determines the minimum gap distance between the Slow MA and the Trending MA required for the EA to trade. This value is untested, so the default is 0.0001, but we may find a better setting.

A starting point.

Run the strategy tester on the EU 15M chart with default settings and get several months of data. Then we can start playing around with the settings to find the best ones. I recommend changing the MA settings, Take Profit Multiplier settings and Minimum Gap settings in order to find the best settings. The bot showed some promise in backtests.

As an alternative, demonstrate the robot to see how it works. Put it on the EU 15M chart (or G/U 15M). The robot leaves a "fingerprint" after a trade so you can see where it goes and set its take profit and stop loss levels, etc. I think you'll be surprised by the quality of entries it generates. The key to profitability is to find a good environment. This is where we can come together to help.

Noodle.