I took the liberty of creating an EA that uses the inside bar system. I have seen another one, created by someone on this forum. I think DazeGhost is his nickname. However, as I recall, that script did not produce profit. My apologies if I am wrong and please tell me what settings I must use to make it work if it does on the long run. The code is kinda raw, so you cannot modify the Stochastics settings they are 8,3,3 unless you do that by editing the code itself i know i'm lazy.
There is something changed. So generaly if your SL is about 25 pips, the TP is somewhere between So there you go. So if you use it only as an alert again, you have to write your alert by yourself, i'm lazy: Please test the EA yourselves, beacause my MT4 is installed since June and the older data taken from history is not that reliable.
However I still beleive in being there while trading. I trad einside bars as well but I trade on the 5min tf. I will be starting a thread soon so others can follow my trading and so that the people who have been at this longer than I can give me some feedback. This is a good stepping stone though. Just remember its very hard to program something to the human discretion of momentum in a market.
I'm no coder but have been playing with some ideas that i was going to try and get coded. You beat me to the IB one Inside bars signal a slight change in momentum.
They are intra-trend moves or start trending moves. There is more to them than just an inside bar forming though It is thanks to jame's thread and another thread on another forum that I have made into my own methodology. Is is very hard to make a steady profit autotrading this kind of strategy. I know that and that's why I posted this EA, in order for you guys to see it and test it out. I doubt anyone will use it with real money. DarezGhost is the author of that other EA. You are correct that it was not profitable in backtesting, however it did make some good entries if you were at the computer to control the exit.
I took that code and modified it to use it as an IB alert for myself, and added some external inputs for people who wanted to try and trade it. I can attach my modified code if anybody wants it.
I would never let it trade my account, but if you're looking for some code examples it might be worth taking a look at. I saw your other thread on scalping short term charts using IBs, and felt like somebody snuck in to my office and stole half my trading journal: Nice to know I'm not the only one I put it in its original thread so as not to clutter GigiDolar's new thread: I've tested the EA, it has the same problem as mine: Before that, it's not.
The thing is, the EA is not to blame here. I'm not saying it wasn't profitable before, just that autotrading it wasn't. But autotrading IBs is more complicated then i've thought. The exact relations are still foggy to me, I'm currently studying that.
The inside bar EA Trading Systems. Free Forex Trading Systems. First of all I would like to thank james for all his work. His systems are truly great. It works best on 15M, as james said. This system does not come with stop trailing. For the time I tested, it did not seem profitable. Ok I bored you guys enough. There's definatly something too inside bars. Looking forward to seeing how this develops.
Yes balto, you are right. No problem about posting it here also, i really don't mind. Keep up the good work!!More...