Welcome!
This budget, absolutely no frills website, located somewhere on a Yahoo! server in the United States of America is the starting place for a race around the world!
???
OR maybe I watched too much Amazing Race lately... so let's start again
This budget, absolutely no frills website, located somewhere on a Yahoo! server in the United States of America is the home for the EAs created for pipwoof's Daybreak with Triple Threat Exit Strategy trading method. You can read about this trading strategy on another website with much more frills than this one at www.babypips.com The discussion topic for the strategy, including its rules can be found here.
There are currently three EAs inspired by this trading method. Two are written by me (rpotor) and one is written by another contributor to the topic (dineshydv). Since I have no prior experience with coding EAs for Metatrader 4, this is a learning process for me as well, therefore if we find bugs or problems with my EA during testing, a new version will be released hopefully fixing problems. The current stable versions will always be found here on this website.
The first EA is the one coded for the original rules set forth by pipwoof in the above linked topic's opening post. The EA has two parameters that can be set when you attach it to a chart. Lots is the lot size you want the EA to trade on each order. Default is 0.01 lots, please adjust this according to your money management rules, the minimum lot size allowed by your account type, the number of stars in a given star constellation or whatever the heck you're comfortable with. Delta is how many pips above previous daily high / below previous daily low you want your orders set. Default is 1 pip, according to pipwoof's rules.
The "judgement calls" currently programmed into the EA:
- it enters orders on Monday +10 pips above/below Delta according to pipwoof's rules.
- it doesn't care about Sunday candles, it always takes the previous daily bar and checks its high and low. On Mondays if the previous candle was a Sunday candle, it takes that, but if there are no weekend candles on your platform then it just takes last Friday's candle. If you are uncomfortable with this, wait until I code some logic into the EA for this to be adjustable or just don't run the EA on Mondays. :-)
- if our first position on a given currency pair reaches Take Profit, it adjusts the Air and Retrace position stop losses in such a way that the new SLs always lock in "positive pips", so it doesn't let Air and Retrace end in a loss after our first position reached TP. After this initial move of the stop losses above break even, it moves the stop losses for Air and Retrace according to pipwoof's rules.
To ease up the load on our CPUs the EA runs only once per minute, so in an extreme case, in a highly volatile market I can imagine that it could miss correctly setting a new SL if there is a veeeeery large movement within just one minute. I don't think this is big deal, because if you let the EA run, it will continuously monitor the market and eventually will move the Stop Losses when the market goes with us.
Ooookay, so let's see. The download link for the latest version is here:
The other EA was inspired by the modification suggestions set forth by Bijoymj on the Triple Threat topic in this post here. Should this link become somehow bad or something (I saw this happen on some other forums, like if the moderators delete a post, the post numbering within a topic might mess up and links no longer point to the posts correctly), you want to look around for post #292 by Bijoymj in the topic linked above in the introduction part. Not all the rules found in that post is implemented however, please see my post on this matter (it's post #329 in the Triple Threat topic linked above). If you like the modified system suggested by Bijoymj you can use this EA instead of the "original rules" EA. The download link for this EA's latest version is below, but please be aware that most likely I will not update this EA anymore in the future due to time restraints, as I think that in the long run, the results of the original rules EA and the Londonbreak EA below should even out. In the future I'd like to concentrate on perfecting the EA for the original rules instead. Anyway, I'm including the Londonbreak EA here for those of you who like it better or if someone wants to pick up the torch and upgrade it, it's fine too.
Please be aware that the above EA is provided as a compiled .ex4 file, since it includes a function library needed for its operation. It works just like an mq4 file, this file is all you need, you just put it in your experts folders and be happy about it. However if you are not comfortable trusting a code you can't verify yourself (always a good practice nowadays on the internet), you can compile it from the source code below, but you also need for that the LibGMT function library (also linked). I'm not in the mood to describe in detail how to do this compilation, if you know what you're doing, then you know what I'm talking about, if not, you will have to wait until I find the time to put together a tutorial on how to compile an EA from source code:
The third EA for this trading method is being coded by dineshydv, so it's not mine, I'm just including it here for the sake of completeness. I'm assuming dineshydv might have more experience coding EAs than myself, thus there is a possibility that in the end his EA might come out better and more sophisticated than the ones linked above. At this moment, his EA works differently than mine. My EA puts in pending orders which are triggered as price moves in the market. His EA constantly monitors market price and puts the orders in "live" at market, no pending orders are set. His EA can be customized more than mine, because his has more user definable variables. For an explanation of dineshydv's EA please see his post here (post #346 of the Triple Threat topic). Current version of his EA can be downloaded from this link:
(original release and comments for this version can be found in this post in the Triple Threat topic - post #409)
Since the Triple Threat topic got very large very quickly, pipwoof started compiling a directory of the most important posts of the topic, referenced by the post numbers, so newcomers might avoid getting entirely lost real quick. The current directory is reproduced here and if I'm not forgetting it, I'll try to update it here whenever pipwoof updates it:
***** directory of topics *****
1. Introduction, explanation, examples and results: Posts 1 & 2
2. Chart example, detailed trade step by step: Post 7
3. Using judgment to depart from strict rules: Posts 17, 69, & 108
4. How to define “day,” platform and results differences: Posts 5, 31, 123, 137, 148, 149, 152, 155, 157, 164, 194, & 195
5. July summary of all trades, posted for comparison: Post 208
6. Demands on personal life to trade the method: Post 83
7. Indicator, Forex News Market Clock: Post 167
8. Re-entering trades that are stopped out: Posts 111, 113, 247, 255, 259
9. EUR/JPY, results for a new pair: Post 115
10. EA & RPOTOR: Posts 89, 93, 94, 100, 106, 107, 159, 160, 166, 172, 175, 178, & 200