Expert Advisor + Fx Signals 18th Feb

Forex Signals Expert AdvisorOnce again we had a great run, both GBPJPY and CADJPY reached their third profit target at +210 and +120 respectively. We are now sitting very well for the week and hopefully market will continue to move in our favor.

I also have another Expert Advisor to share with you. A million thanks to “DietPipsi” for not only writing an Expert Advisor but also providing a very comprehensive user guide. I am sure it would have taken a good chunk of his time and I can’t thank him enough.  Please note that this EA does not generate new signals automatically, it only helps you to enter new trades and manage them.

Download Links: < removed >

Update at 5PM EST / 10 PM GMT / 0000 Hour Candle:

Order ID: 13 | Order Cancels Order | $EURUSD Sell 1.3580 or Buy 1.3635| Stop Loss: 55 Pips | Take Profit: 40-80-120 Pips

Update at 9PM EST / 2 AM GMT / 0400 Hour Candle:

Order ID: 13 | Update | $EURUSD Sell 1.3580 | Currently at +15

Update at 1AM EST / 6 AM GMT / 0800 Hour Candle:

Order ID: 13 | Update | $EURUSD Sell 1.3580 | Move Stop Loss to 1.3585

Update at 5AM EST / 10 AM GMT / 1200 Hour Candle:

Order ID: 13 | Update | $EURUSD Sell 1.3580 | Closed at -5
I don’t see any good trades lining up for next few candles. I’ll send next update only when we’ve signal worth trading.

This post will be updated several times throughout the day. If you new to our blog then please read Forex Signals and Forex Signals FAQ

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100 Responses to “Expert Advisor + Fx Signals 18th Feb”

  1. richard 18 February 2010 at 7:09 am #

    hi firepips im comfused does the EA open 3 trades all with the same stop loss but different take profit targets basically exactly how you do?

    • Diet Pipsi 18 February 2010 at 8:30 am #

      Hi Richard – It opens one trade for the entire "3 lots" worth. You input the lot size you want for the total amount.

      At the first target, it calculates 1/3 of the size of the total position and closes that much. At the second target, it calculates 1/2 of the remaining position, and closes that. At the third target, it closes all of the remaining position.

      And if you are using a total amount that your broker will not divide evenly by three, it will close the nearest round amount at each of the first two targets.

      Hopefully helpful -

      • Ron 18 February 2010 at 4:58 pm #

        I haven't downloaded the file yet… It sounds this is a script, not an EA… if that's the case, does it work with brokers that do not allow OCO orders? Thanks

        • Diet Pipsi 18 February 2010 at 6:17 pm #

          Hello Ron –

          It is an EA, not a script.

          It does work fine with brokers that do not allow OCO orders. Actually what I think you are referring to is brokers that will not allow you to place both a buy-stop and a sell-stop order at the same time, due to hedging. That drives me nuts, because I didn't want to hedge, I just wanted it to open only the one order or the other.

          In fact, that was my first motivation to begin creating this EA. It does not actually place any stop orders at all. It watches the price and enters only when one price or the other is reached. And whichever one is triggered, it does cancel the other one, so it won't get in the other way in case of a stop-out.

          • Ron 18 February 2010 at 7:00 pm #

            thanks! exactly right, I had buy-stops and sell-stops in mind… EA sounds like a great solution for this stupid hedging restriction… :) I will definitely check it out later… Let me ask you this: how did you mimic FirePips' price action buy sell entry points??? SLs and TPs are quite clear…. Sorry if this was answered before in the blog…

          • Ron 18 February 2010 at 7:09 pm #

            ups…. just opened your instructions… sorry, should have done that before writing this… so this thing really is in between full EA and a "script"…. thanks for your work!

          • Oculaw1957 23 February 2010 at 11:53 pm #

            Hey. I am new to this Forum. Do you have a copy of the EA available? I see lots of talk about it in here, but don't know how to create the EA with the script? Is there an ex4 available that I can place into my experts file?

      • Gio 25 February 2010 at 9:04 pm #

        Hi DietPepsi,

        Sorry I'm kind new to this blog, but can you refer me to this closing positions…. I thought FirePips only mentioned about moving stops when target profits reached. This is more sound btw…. how about closing 1/3 each every TP reached?

        So, the EA can now run on MBT MT4 platform now? it's auto detect for 5th decimal pricing already?

        nano_fx0

  2. Onyebuchim 18 February 2010 at 8:13 pm #

    What a wonderful and simplified programe. it really follows out the logic of the system and makes it simple.

    i’ve not really tried it but after going through the instructions, i gave my 5 star verdict. i’ve seen many EAs of this kind but this seems to stand out.

    I love the part that encapsulates the whole lot size and also the part that enables manual adjustments for traders who miss out on the initial signal.

    Thanks a lot and keep it up

  3. Steve 18 February 2010 at 12:09 pm #

    I forgot to check my mail and missed the new SL on EU. But I'm lucky I guess because I managed to close both on +20.

    • FirePips 20 February 2010 at 11:09 pm #

      Lucky you :)

      I personally use a desktop alarm to remind me to send signals every 4 hours.

      • Freddy 25 February 2010 at 6:36 am #

        Interested in your desktop alarm.

        Please contact me by freddyfx@gmail.com

        • FirePips 25 February 2010 at 6:58 am #

          It is called Atomic Alarm Clock !

  4. @fxjamppa 18 February 2010 at 12:23 pm #

    Is the EA working normally with 5 digit platforms like Alpari?
    IMO there is no other changes than add one zero to StopLoss and Targets or…

    • Diet Pipsi 18 February 2010 at 6:20 pm #

      I tested it with MBTrading in the early stages, and entering 400 for example did seem to work for a 40-pip stop. But I have not tested it there since doing a lot of additions to it, it may work and it may not.

      I know how to code it so that it will detect 4th decimal or 5th decimal, and that way you could just enter 40 instead of 400 for a 40-pip stop. But I have NOT done that part yet.

      It's a work in progress . . . .

      • Ron 19 February 2010 at 4:09 pm #

        Diet Pipsi,

        By the way here a link that might be very useful… it's a nice tool to create EA without programming knowledge… easy to tweak also!… could be very handy for you… check it out…

        http://forexgenerator.com/

        • Diet Pipsi 25 February 2010 at 7:14 am #

          Thanks Ron, will look into it. I and a partner once bought a nice package to do something along those lines, and other than consulting the glossary a few times, we found it useless. It would only program very simple things, with a few increasing levels, but anything we wanted to do that wouldn't "fit in the box" we couldn't accomplish without doing it the hard way, and just learn and understand the programming and write it out to do exactly what we wanted.
          And then test it and tweak it. And test it and tweak it. And test it and tweak it . . .

  5. Pierre 19 February 2010 at 12:58 am #

    Fed notified that they rose up secondary rate from 0.5 to 0.75 @ 10.30 pm gmt+1,.
    Consequence : eurusd dive from 150pips high, hope everyone set its S/L on eventual long €$ !!

  6. Pierre 19 February 2010 at 10:44 pm #

    eurusd approx 100% (!) retracement over yesterday 150pips dive, didn't trust of such fast recovery so I weren't in.

  7. olivia 22 February 2010 at 8:34 am #

    The EA is not working properly, eg. now that EA ended on E / J at -10 pips and E / U to 0 pips …

  8. David Funchess 22 February 2010 at 10:56 pm #

    I don't see a download button for the EA , just some programming script?

    • FirePips 22 February 2010 at 11:02 pm #

      Try Right Click-> Save Target As or Save Link As

      • David E Funchess 23 February 2010 at 5:18 pm #

        right-click gets me same code, do I need MT4 running, I found mine disabled as I got it from FXCM and used it for a time, then decided to download FXCM's demo account
        and later went to MT4 and found it was disabled.

        Are they mutually exclusive?

        Also, to make,place all of your daily signals how much money do you need in
        trading account. I have never traded with live account?
        Dav id

        • FirePips 23 February 2010 at 10:39 pm #

          To run EA you need MT4 platform. I recommend trading in demo account for few weeks or even months before risking your hard earned money.

        • Diet Pipsi 25 February 2010 at 7:09 am #

          It's not how much money you need, it's how much lot size you want to use with the amount of money you have. And then if you have enough leverage to trade that amount on as many open trades as you will have with this system.

          Most people agree that about 3% of your account risked per trade is about right, some more some less. So if you have $1000 in your account, and Firepips calls a trade with a 50-pip stop loss, you would figure it as $1000 x 3% = $30 and divided by 50 pips = .6 or 60 cents a pip. For most pairs with most brokers, that is .06 lot size. If that trade hits the stop loss, you have lost 50 pips x 60 cents = $30.00

          Don't forget to adjust again as your account balance decreases if there are many losses in a row.

          Many would suggest even more conservative than that. For $1000 for example, I'd certainly suggest no more than .06 lots if you are trading only one or two trades at a time. And no more than .03 if you want to be in as many as four trades at a time. And even less if you are going to take trades with larger stop losses.

          Even with that trade size, you might be trading too rich if we come into another week like last week. You need to understand how your broker deals with margin requirements, and what your leverage is. If you have 6 trades open, each for the full lot size you determined, and they are all in the -100 range at any point, and we were already down -800 on the week, you will see some scary figures for your account balance, and possibly enough for your broker to make a margin call.

          Definitely the larger your balance, the more conservative you should be in your lot sizes.

          From there you can do the math to answer your original question of how much money you need to trade with.

          And for that matter, even if you have $50k you can trade with, just my opinion, you should start with a much smaller amount, my opinion would be about $1000, and keep the rest in the bank for at least three months.

          After you have traded that $1000 on a lot size of .06 or less, for several months, you will get a good feel for how much more money you can put in, and how much more lots you can trade.

          Sorry it isn't simpler, this is not a simple business in that respect. The majority of people who lose all their money do so for the simple reason that they ignore this important area.

          Hopefully helpful – -

  9. murat 23 February 2010 at 10:26 am #

    Thanks to DietPipsi,

    I'm testing the EA and I have some problems. Is there any kind of limit in the number of pairs that can runs the EA on a single platform?

    • Diet Pipsi 25 February 2010 at 7:10 am #

      none at all.

      I've only run it on 5 or 6 pairs at once, but it works fine and there are no problems.

  10. Doug 23 February 2010 at 9:05 pm #

    To Olivia's point, the EA was 10 pips higher than stated stop loss and 10 pips lower than take profit for the Eur/Jpy trade.

  11. Oculaw1957 23 February 2010 at 11:40 pm #

    How do i get the ex4 for the EA? The only way i know how to use an EA, if to place the ex4 into the experts file. Can anyone help???

    • Doug 24 February 2010 at 1:55 am #

      Oculaw,

      I recommend just copy and pasting the EA text from the web into your metaquotes editor. Then save as EA.

      • Oculaw1957 24 February 2010 at 3:21 pm #

        Thanks for the help. I tried to do that but the editor screen was grey and i couldn't paste it in there. Any idea how to do that?

        • Diet Pipsi 25 February 2010 at 6:32 am #

          Hi Ocu –

          If you go up to the link and instead of clicking on it (which opens up the text of the EA) if you Right-Click on it and then Save As or Save Link As it will just save the EA file.

          However, if you want to continue it the way you started, when you get to the grey screen in MetaEditor, click File and then New, the click on the first entry of Expert Advisor, if it is not checked already, then click Next, type in the name Firepips, then click Finish. It will open a file called firepips.mq4. Highlight the stuff it puts in by default and delete all of it, and then you can paste in the text of the EA you copied from this blog. Then click File and Save to save it in the correct file.

          If you have more than one MetaTrader installed on your computer, you'll have to check which one it put the file in, but then it's easy to copy it to the one you want.

          Hopefully helpful -

  12. FirePips 24 February 2010 at 2:11 am #

    If you still having trouble basic set up of EA on MT4 then I recommend following links:

    http://www.pipcop.com/forums/review-faq/4-how-ins…

    http://www.youtube.com/watch?v=IX-CQfz2GUA

  13. vydastv 24 February 2010 at 7:41 am #

    Hello, this EA to my broker does not work, say Broco, settings must be performed as well, but he (EA) has only a test, and a demo version of MT4 does not work, or what have you herd it to run at brokers Broco?

    • FirePips 24 February 2010 at 6:47 pm #

      Not sure about that. This EA is still under construction and I'll keep you posted.

  14. amdegia 24 February 2010 at 6:38 pm #

    Its Awsome that you have created an EA for this.. helps a lot.. esp with money management.
    Can you please give us some clue as to what price action method you are using…. support resistance, reversal etc…. please
    P.S. love your signals.Gold Coast Australia

  15. James 24 February 2010 at 6:48 pm #

    Hi Diet Pipsi,

    Thanks for the EA. Does it mean that I should put it into Experts folder like a normal EA?

    By the way, could you please kindly advise of your email address? Just in case in future, if I have any good, automatic trading system, I may ask you to code an EA for me. Of course, I will pay you some fee for your work. What I need is an experienced EA Programmer / Coder.

    By the way, my email is : james_phuc28@yahoo.com
    Thanks a lot
    James

    • Diet Pipsi 25 February 2010 at 6:18 am #

      OK, I just saw this one AFTER I answered the long one several posts below. I would never offer coding services on Firepips' blog, because to me that would be like coming into his home and pissing in his house plants.

      I won't post my address either.

      However, since you did post yours, I am happy to write to you privately.

      I am always interested in systems that are consistently profitable that are based on set rules, which could be coded.

  16. James 24 February 2010 at 7:04 pm #

    Hi Diet Pipsi,

    What is the function of "Stop Profit" on Input of the EA? How to use it?

    Please give an example to make it clearly understood.

    Thanks a lot
    James

    • Diet Pipsi 25 February 2010 at 6:14 am #

      I gave a very good example in the manual, please read it there. If you have already and then have question about that, don't hesitate to ask.

  17. James 24 February 2010 at 10:36 pm #

    Hi Diet Pipsi,
    I just tried your EA, and I found something wrong as follows:

    1. I attached your EA on AUDCAD Daily on Interbankfx, and on Input, I set up:

    a. Sell at 0.9455, stop loss 100 pips, Take profit 1= 50, Take profit 2 = 100, Take profit 3 = 130.
    b. However, after I changed "OpenATrade = True", the EA immediately placed a sell on Audcad at market price at 0.9408 (my sell price must be 0.9455), and it placed stop loss at 0.9565 (157 pips from 0.9408, but exactly 100 pips from 0.9455).

    2. So, what is the reason why this EA did not wait for the price to come up to 0.9455 to place a sell trade on Audcad ?
    I hope you can double-check your EA, and fix the bugs.

    3. By the way, in case the market price moves into the trade direction and come to first target, will this EA trail stop loss of remaining lot size to Breakeven or xxx pips profits to protect the profitable trade from becoming loss in case of sudden market reversal ?
    If your EA does not do this job yet, can you modify your EA and add this extra useful Function of Trailing stop?
    Thanks a lot
    Regards,
    James

    • Diet Pipsi 25 February 2010 at 6:13 am #

      Hi James –

      It's not a bug, and while you were polite (which I appreciate), the tone of your post is presumptuous of some error on my part. Please do not be presumptuous or assuming that just because it didn't do what you wanted or expected that I did something "wrong" by not making it that way.

      The reason it didn't wait is because it is not designed for the type of order you used it for. It was specifically designed to trade FirePips trade calls, which couldn't be the case in your trade, because FirePips does not trade AUD/USD that I have seen. I of course don't mind if you use it for other pairs or other methods, but it is going to behave only in the way that is useful for FirePipss' method.

      When trading FirePips' calls, if you input them as soon as the call comes out like you are supposed to, the orders that are needed are BUY-STOP and SELL-STOP orders. These are the type of trades this EA was designed to take.

      But if price was below your intended sell price when you did it, then what you needed was a SELL-LIMIT order, not a SELL-STOP order.

      In trading FirePips' calls, the only reason for using a BUY-LIMIT or SELL-LIMIT order would be if you were late getting the call.

      And if you read in the manual, I specifically outlined a circumstance where you would want to use a limit order — AND that this EA is NOT programmed for that. In fact, I do want to add that capability in, because I sometimes miss the call too, just like everyone else does. And if I see the call after price has already triggered FirePips entry, I too would like to use a limit order.

      Still, it is not in the EA, and I said so.

      As to moving the stop, no it does not move to break even after the first target. If you read FirePips' rules, his method calls for moving the stop to only half of the loss at the first target. Which is what this EA does. And again, if you read the manual, I think I explained it pretty good. It only moves the stop to break even after price reaches the SECOND target, because that is according to FirePips rules.

      It would be a simple matter to write it so that it will move the stop to break even at the first target, but I have no plans to re-write it that way, because that is not according to FirePips' rules.

      But if you want to do that yourself, since the code is posted and you actually have to save it into an .mq4 yourself, it's very easy. There are 10 places in the code where it says "stoploss/2" and if you change the 2 to a 1 in all 10 of those places, it will then move your stoploss to break even after the first target.

      I have no plans to add a trailing stop for use after the first target.

      I do plan to add a trailing stop feature for a different purpose, and that is so that if price gets within X pips of any of the three targets, then the stop for that 1/3 of the trade will move to 2X from the target, and trail from there. That way, if the user sets the X to be 6, then if price gets within 6 pips of a target, it will move the stop to 12 pips from the target, and trail it form there.

      That way you will get some where you get as much as 12 pips less than the target, but no more stop-outs where it missed the target by only 6 pips and then turned around.

      However, that is a lot of code, and I do not know when I might get to it . . .

      Hopefully helpful -

      • Diet Pipsi 25 February 2010 at 8:09 am #

        XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

        XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

        OOPS!

        I MADE A MISTAKE!

        What I posted about stoploss/2 above is NOT correct. That would make it place the full stoploss again instead of making it place half of the stoploss. I cannot edit that post, so I can't change that, BUT PLEASE BE INFORMED THAT IT IS WRONG!!

        The correct thing is to replace "stoploss/2" with "0" in all of those places.

        Hopefully anyone who is going to try it will see this post also!!

        XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

        XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

        • FirePips 25 February 2010 at 10:10 am #

          Hi mate…I really appreciate you input here. Your long comprehensive replies are really helpful.

          I guess if you open an account with intensedebate then you should be able to edit your replies.

  18. Jagtrade 25 February 2010 at 6:56 am #

    Admire your patience Fire Pips with some of #@*! …. questions you get. Don't let em put you off !!!!!

    • FirePips 25 February 2010 at 10:10 am #

      Haha…I am sure we all were like that at one stage :)

  19. Chrissy 26 February 2010 at 5:57 pm #

    Hi Diet Pipsi anf Fire Pips

    Many thanks for the EA. I believe that i have it loaded correctly but i am not sure what it is i should see? The EA has opened a trade(demo account) but the trade is not showing in the trade section of my platform. Is this correct?The chart is showing that the trade is open but that is all the detail that i can see. Really not sure that it is doing what it is ment to do. Can you help?

    • Diet Pipsi 26 February 2010 at 9:33 pm #

      Since trading is now closed for the week, there's no way to test it right now. When trading opens again Monday morning (Sunday evening for most parts of the world) try it again, and see if you can tell. When you first put the EA on the chart, in the chart itself some text will appear and one line of it says "Not Looking for a Trade Right Now ". After you input the parameters for a trade and set it to "true", then after the next tick, the text will change and one line will say "Waiting to Open A Trade" and it will display the buy and/or sell price(s) that it is looking for, which will be what you input. Once it opens a trade, then lines of text will appear saying ""Order Open Price: ", and some lines that tell the StopProfit, the Current Profit, the Max Profit the trade has reached, and soem things that look like that, and then a line that says "Order Stage :" which is to tell you what stage the order is in (whether it has reached the first target, or the second target).

      If you do not fully understand Firepips method, this will be confusing to you. For that matter, you will not really know how to input the trade parameters if you do not really understand the method. But at least from the different texts it will display, you can know if it thinks a trade is open. I can assure you that if not trade is open, it will not say that one is in the comments on the screen.

      And, as always, please read and re-read the manual I wrote to go with the EA. Once you understand Firepips method, and have read and understand the manual describing how to use the EA, much of the confusion will go away.

      And if you are finding it confusing to read right this minute, close it and go have your weekend! Then come back and begin again when you can actually open running demo charts and try it out as you read!

      Have a great weekend, and I hope this was helpful – -

  20. Chrissy 27 February 2010 at 11:02 pm #

    Hi Diet pipsi
    Many thanks for your reply. I do understand the method of FirePip and the type of orders that are required. The EA did give me the following. When I gave it a trade It did say Waiting to Open a trade with the prices. But when price was at the required level it didnt go on to say "Order open it just went back to " Not looking for a trade" There were small icons on the chart but nothing went into the open trade section of my platfrom. I am using MT4 and my broker has 5 decimal quotes. So I am scratching my head as I cant see what went wrong. I will retest this on monday and I will let you know how it turns out.
    Many thanks for your great work. I luv your idea. If I can get it to work for me it will be the best thing since sliced bread.
    Cheers
    Chrissy

    • Diet Pipsi 1 March 2010 at 4:21 am #

      Hi Chrissy –

      OK, I'm so glad you do already get it with Firepips' method and the way to enter orders. I was not meaning to be condescending, and PLEASE forgive me if I came off that way!

      With what you have jsut told me, I can tell you of my own experience. As I said in the manual I have not tested it on a 5th decimal broker. In fact, I am working on that now, and I have seen some cases where it does not get in the trade, but at the trigger price it just changes from "Waiting to Open a Trade" and goes straight to "Not Looking for a Trade" in the wink of an eye. I have not yet figured out why that happens, but am working on it.

      But at least I now know exactly which problem you are having! Sorry I don't have a solution for you for that yet – -

      • @Forexsimmo 3 March 2010 at 2:51 pm #

        Thanks for the EA Dietpepsi ! I'm getting the same problem… 5-digit broker and EA just reverts to "Not looking for a trade" when entry price is hit.

      • burn0050 10 March 2010 at 10:18 pm #

        Hello Diet Pipsi,
        I just ran into this when trying to write a script that would open Firepips trades for you (this is before I saw your EA).

        I can send you the modified EA for your testing (as I am testing now). The quick answer is that I create a multiplier set to 1, then check digits on the currency. If digits=5 or digits=3, it sets the multiplier to 10. Then insert that muliplier everywhere orders are set up.

        Let me know if you want my code.
        Thanks,
        burn0050

  21. Ell 1 March 2010 at 7:13 am #

    Diet Pipsi you have created a great tool, thanks!…just curious, I know it is possible to add alerts to MT4 indicators. Is it possible that you can add alerts to your EA? Example: it will trigger a alert if/when Target-1 is reached, Target-2, Target-3, and Stop Loss ?

    • DietPipsi 27 March 2010 at 11:46 pm #

      Sorry I have not been in here for several weeks, and apologies for the delay in answering. I'm certain it is possible, because many EAs I've seen and used have alerts on one form or another in them. However, I have never coded an alert in myself.

      I want an EA to DO the work for me, not alert me for ME to have to go do the work !!

  22. Chrissy 1 March 2010 at 8:27 am #

    Hi Diet Pipsi
    Many thanks. No offence was taken from any comments. I really do appreciate you efforts, THANK YOU! I am pleased that you can see the problem. I am currently retesting and i am getting the same problem as you have outlined above. Looking forward to any update that you are able to develop.
    Thanks again
    Cheers
    Chrissy

  23. James 2 March 2010 at 11:01 am #

    Hello Diet Pipsi,

    Now that Firepips just added a few more pairs to trade by using his trade setups such as: Eurusd, Eurjpy, and Cadjpy, could you please kindly modify your EA so that it can be used on these new pairs according to Firepips signals?

    Also, it is highly appreciated if you could add Gbpusd into your EA as well, because I often trade Gbpusd almost everyday. I want to do similar things like Firepips signals by closing 1/3 of lot size at first target, the other 1/3 at second target, and remaining 1/3 at final target.

    Please post your updated version of Firepips EA with Words "Updated version" so that we can know which version is old, and which version is newer.

    I am preparing some manual trading systems for your reference. They are quite mechanical, and I think you will be able to code them into profitable EAs with ease.

    Thanks a lot

    Regards,
    James

    • myoccm 2 March 2010 at 2:55 pm #

      James…the individual pairs aren't coded into the EA…you apply the EA to any pair you choose to use it with…hope this helps…

  24. myoccm 2 March 2010 at 2:52 pm #

    Diet Pipsi…

    Your EA script is great…thanks for the time and effort you have put into it to make life easier for the rest of us…I have one question…I have missed a couple of profit targets because the profit target and stop loss are +10 away from the FirePips inputs, as per your instructions. I notice that after the order is executed, the SL and TP show the 10 point difference, and yesterday missed a second TP because it was 10 poins past the FirePips input. I went into the Meta Editor and took out all references to '+10', but once I executed a trade and the price moved against the initial direction, the trade closed automaticlly. Is there a way for me to remove the +10 buffer that you have coded in? Thanks again…

    • DietPipsi 27 March 2010 at 11:52 pm #

      Hi – Sorry I have not been in here for several weeks, and apologies for the delay in answering.

      No, you cannot the way ths EA trades. Well the stop loss you could, but not the profit targets. MetaTrader does provide for advance orders of closing only a portion of a position (or at least on every broker I've ever tried it, it doesn't).

      But the advance orders for profit target and for stop loss are only there in case of a problem with your computer or your internet connection. If you have the EA running when price reaches the target, the EA will close the correct portion of the position, and you never need the advance order for a profit target. Now if you turn your computer off (or turn off the EA) once the trade has been launched, then no it won't be there to close your trade at the target. I don't know if that's what you did. But if the EA is running and the target price is touched, the EA should close you correctly.

  25. sven 2 March 2010 at 5:31 pm #

    HI,how can i get de ea because it looks like the download link doesn t work anymore
    i like the site en your newspaper every day thanks a lot !!!

    • FirePips 2 March 2010 at 11:01 pm #

      The Expert Advisor link seems to be working fine. Please try again.

  26. murat 3 March 2010 at 8:32 am #

    Am I the only one having problem with the DP EA?

    It happen that when I put orders and select "True" in OpenAOrder, sometimes it simply doesn't work and does not appear the anything on the chart. It happens in a random way.

    am I the only one?

    • DietPipsi 27 March 2010 at 11:56 pm #

      Hi murat.

      Sorry I have not been in here for several weeks, and apologies for the delay in answering.

      If you are using a 5th decimal broker, or an ECN broker, then it turns out is does notwork as written. Am working on revisions, but have not completed anything yet.

  27. Simmo 9 March 2010 at 9:34 am #

    Hi Diet P !
    Any updates on the EA ? Still can't get it to work on my platform. Just passes the entry point and says 'Not looking for a trade now'.

  28. Simmo 9 March 2010 at 11:30 am #

    Hi Diet P !
    Just wondering if there are going to be any updates to the EA, I can't get it to work with my broker, (Alpari 5-digit). The EA just passes the entry price and changes to 'not looking for a trade'.
    Thanks

    • DietPipsi 27 March 2010 at 11:59 pm #

      Sorry, not as of yet. Been busy on other things, and not gotten back to it. I want it fixed better myself, because I want to use it on MBTrading. But since it works perfectly with FXDD, and that's where I'm using it right now, other things have taken priority. Again my apologies. Stay tuned, updates will follow -

  29. GRM5 11 March 2010 at 12:12 am #

    Hi DietPips,
    How is possible the EA, when price retrace over 6, 8 or 10 pips, it close trade. Why the stop loss isn’t reference of the trade.
    Thanks

    • DietPipsi 28 March 2010 at 12:02 am #

      Hi GRM5 –

      I don't understand what you mean by "Why the stop loss isn't reference of the trade."

      As to why 6 or 8 or 10 pips retrace it will close, the only thing I can think of is that you may be on a 5th digit broker. And on those it sees that as 60 or 80 or 100 pips retrace, which is past the stop loss amount, and thus it closes.

      I plan to make it work on those, but have not done so yet.

  30. Kris 11 March 2010 at 10:45 pm #

    Hey DietPipsi,

    I just downloaded and installed the EA yesterday to the MB Trading MT4. I set a few of the most recent orders and it says "waiting to open a trade". Once the desired price is hit, the EA switches to "not looking for a trade right now". It never does enter a trade though.

    Do you think this has something to do with 5th digit pricing? I have tried entering 4 digits and 5 digits and get the same results. Any help would be appreciated. I will keep doing trial and error on my end too.

    Thanks

    • Kris 12 March 2010 at 4:25 am #

      nevermind my post DietPipsi, I read through before I posted and didn't see all of the OBVIOUS comments about the EA not working on 5 digit brokers.

      I just happened back to this thread and saw everyone else with the same issue. I'll be on standby as you are working through it.

      Thanks

      • DietPipsi 28 March 2010 at 12:05 am #

        And apologies for not being in this thread for several weeks. It is still a work in progress, I do not have it worked out yet.

  31. apresau 15 March 2010 at 11:37 pm #

    EDIT

    the post came out differently to what I wrote.

    The <> comment was that, after the Start function, “points” should be substituted for “Point”.

  32. apresau 16 March 2010 at 12:06 am #

    Hi Diet Pipsi

    A couple of coding suggestions.

    This is what I use to cope with 4- and 5-digit brokers

    double points;

    //+——————————————————-+

    //| expert initialization function |

    //+——————————————————-+

    int init()

    {

    //—-

    TakeProf = ((FirstTarget + SecondTarget)/2);

    //—-

    if(Digits==3 || Digits==5)

    points = Point*10;

    else

    points = Point;

    //—-

    return(0);

    }

    <<>>

    With regards to no trades being opened with direct-order brokers, I experienced this with GoMarkets.

    The answer is to place the order initially with no SL or TP, and then modify the order with the SL and TP; ie a 2-step process.

    Perhaps something like this may work -

    bool openBuy()

    {

    ticket = OrderSend(Symbol(),OP_BUY,TotalLots,Ask,3,0,0,”",MagicNumber,0,Green);

    OrderSelect(ticket, SELECT_BY_TICKET);

    bool modify = OrderModify(ticket, OrderOpenPrice(),(BuyPrice-(points*(StopLoss + 10))),(BuyPrice+(points*(FirstTarget+10))),0,Green);

    if(ticket<1)

    {

    return(false);

    }

    • Kris 15 March 2010 at 4:06 pm #

      Thanks Apresau for your input here. I

      have MB Trading 5 digit metatrader. I have tried both of your modifications above and getting success. I will try to change the openSELL code and start testing OCO and checking for TP closes, etc. This is good though. I was able to open a position with it and TP's and SL all set up in place according to the the read out information from the EA on the left side of the chart.

      One thing I did notices is that the 5 digits is rounded up or down to the nearest whole number. For example, I input buy at 1.27155 and the buy would be 1.27160. Not a big deal.

      • Kris 15 March 2010 at 4:08 pm #

        the rounding up or down is not an issue as FP always issues buy/sell orders on whole numbers and not 5th digit pricing.

        • Kris 15 March 2010 at 4:56 pm #

          I have now successfully had both buy and sell positions to open on MB Trading. Both SL and TP1 lines successfully showed on the chart based on my inputs +10.

          Now, I just need to load a call from FP and let it play out to see if the TP's and SL changes take place according to the system setup. I will advise once I run that.

          • Kris 16 March 2010 at 3:56 pm #

            I have only been able to enter buy and sell on an OCO or a pending order.

            I have NOT had success with the EA doing the correct TPs and SL on a 5 digit broker. For example, if you put 40 TP1 and 60 SL, the EA will close your position at 4 pips TP1 and 6 pips SL. So I tried putting in 400 TP1 and 600 SL so that TP1 would close at 40 pips and SL would close at 60 pips. It still doesn't work. I'm not a programmer and so kind of at a dead end for now.

          • DietPipsi 28 March 2010 at 12:21 am #

            OK, that one is easy. For 40 pips, put 400. For 60 pips put 600. Yes, the way Apresau did it is the correct logic. I haven't copied and pasted his code, so I can't say that it works exactly like that, but if you and Mark are having success with it, I assume it is.

            Again gang, apologies for not being on the spot with the fixes – -

    • Mark 22 March 2010 at 11:55 pm #

      Thanks apresau. Those changes worked on my 5 digit broker, PrimeBankForex. It is nice to have some programming experience. Kris I think you also need to change all code that references Point to use the "points" variable instead, except for the code added to the init() section.

      Thanks,
      Mark

    • DietPipsi 28 March 2010 at 12:25 am #

      Hi Apresau –

      I usually use a variable called PairPoint where you have named it points. Same difference, and you r logic there is exactly right. I imagine it's coded correctly, if it's working; I just haven't copied and pasted your code and tried it myself.

      But yes, the logic is correct. Remove the SL and TP parts from the OrderSend.

      In fact, no added modify is necessary, because on every tick it checks to see if there is a stoploss order on the platform, and if there isn't one, it puts one. Try it! go in and manually change an open trade, and zero out the stoposs. In my original code, on the next tick it will put one back. I do NOT like to trade without a hard stoploss!

      Thank you for posting your work. And thank you for the help!

  33. WinnieAmos05 16 March 2010 at 10:51 am #

    I have a quick question according to the EA you have on your blog it says that after we fill out the necessary fields. The EA will close at each stage and move the stops internally automatically and manage the trade according to the rules. However, since I have loaded the EA onto my mt4.. The EA just closes the trade after it hits take profit 1. Are we supposed to move the stop loss manually as soon as the take profit is highlighted green and not hit yet? or am I doing something wrong? Your help would be kindly appreciated.

    • DietPipsi 28 March 2010 at 12:11 am #

      Hi Winnie –

      Apologies for not being in this thread for several weeks, been hectic for me with Firepips method and with some other things also. The EA is supposed to close only the first portion of the trade when the first target is hit. It then moves the stop up to half, and closes the second portion when/if the second target is hit. Then it moves the stop to break even, and so on.

      It does follow the rules and manages everything properly.

      If it not working that way for you, I do not know why. Just off the top of my head, I would wonder if you are putting in all the the profit target numbers. Assuming you are, then I would wonder if you are turning off your computer or turning off the EA once the trade is launched. Assuming you are not, then I would wonder, have you watched it close the whole trade after target 1? Or do you just think that's what it will do since ito nly places an order on the platform for target one?

      Again, these are just things coming to my mind as to what might cause. I don't really know. I'm sorry I can't be of more help there!!

  34. thesmsguide 16 March 2010 at 5:46 am #

    hi, so does this EA detect the 5th decimal pricing already?

    • DietPipsi 28 March 2010 at 12:12 am #

      Hi themsguide –

      Sorry to be gone so long and not answer you.

      No, it does not yet. I plan to modify it so it will, but have not gotten it done yet.

  35. GRM5 16 March 2010 at 11:59 pm #

    Hi DietPipsi,
    I’m reading several opinions, about errors to improve EA. I don’t know if the actual EA, is the last version. Can you indicate wich is last version of the EA?; that’s to say, “DietPipsi-FirePips v1″,…v2″, etc., or including the date.
    Thanks a lot everybody, this is a great work.
    Sorry for my bad english.

    • DietPipsi 28 March 2010 at 12:15 am #

      Hi again GRM5 –

      As of today's date (3-27-2010) there is but only the one version been posted. I have some more augmentations on my computer, but have not posted anything else.

      I do not have them numbered, as I guess would be the correct thing to do.

      But I am a trader and not a programmer, so I'll have to ask for a "pass" on that!

      And your English is just fine GRM5, no need to apologize for that – -

  36. stephan 17 March 2010 at 2:18 pm #

    hello diet pipsi, can you modify your ea for ecn execution? i have try that on my mb account and it does not work because the stop and tp orders must send separat.

    • DietPipsi 28 March 2010 at 12:17 am #

      Hi stephan –

      I'm sure you and I corresponded some a week or two ago, but I don't recall if it was on the EA or on the performance charts.

      Yes, I plan to modify it, I too wantto use it on my MBT live account. But since it works fine on my FXDD account, I have not made time to prioritize it. I do apologize.

  37. Guillermo 24 March 2010 at 3:23 pm #

    hi! im new in forex market, can somebody explain me how can i configure this?! please

  38. mausgambler 25 March 2010 at 11:33 am #

    Hello !
    I have a 5 digits Broker, and i have make all changes that "apresau " recommended
    He make the Order well, and also the SL (+10) and TP is right in the Oder.
    But if i have SL=100 or TP is 100 in the EA, then he close the Order if he see 100 Profit or 100 lose, but that only 10 pips.
    Sorry for my bad english, i hope you can understand my problem
    In the order all look right (SL,TP) but he close me the Order if i have SL=100 and it rich 10 and also by TP=50 and rich 5 pips
    Think the Points*10 is not all that must changed
    Can you help me

    ty
    mausgambler

    • DietPipsi 28 March 2010 at 12:30 am #

      That is a different problem, but it's easy to work around. For 50 pips, input 500. For 100 pips, input 1000. That will solve the problem for a 5th digit broker.

      It is possible to program it differently so that it will work when you just use 50 or 100, but until or unless we ever get around to programming that, if you use 400 for 40 pips and etc, that part will work.

  39. murattt 26 March 2010 at 2:46 pm #

    Hi DietPipsi,

    first of all, thanks for this wonderful tool. I'm using it with lot of fun.

    Just wondering if is there in your intentions to update the EA to fix some problems.

    I found the following:

    - sometimes after entering the details of an order, nothing appear on the chart. You have to close the chart, open another one and hope to having the order entered.

    - sometimes it opens trades and close them after few minutes/seconds without a reason.

    - When you close and open the platform with the EA still on the chart but de-activeted, it opens sort of a random orders

    I can not identify more details because this problems seems to appear in a random way. Right now I'm closing and opening chart everytime I enter a new trade, and closing every chart before closing the platform.

    Hope to hear from you.
    This is my mail, it will be a pleasure to communicate directly with you as well

    murattt [@] live.it

    congrats
    murat

    • DietPipsi 28 March 2010 at 11:36 am #

      Hi muratt –

      OK, if you close and reopen, then all the EAs on ever pair will start to look for trades again, because internally they set to "true". It changes to set to "false" when the trade is completed, but that does not change the value of the field internally. I tried a dozen ways to get it to do that, but that's just the way it behaves. I never have that problem because I never close and reopen the charts, and I never close and re-open the platform (although I just thought of a situation where that might happen and cause a LOT of problems, so I will look into it further!!!)

      When you enter the de4tails and nothing happens, that is because there has not been another tick since you closed the box. It will put an update on the chart with the next tick, but at low-volume times, it may be many seconds between two ticks.

      I have nevee seen it open or close a trade without reason, other than unless of what I said above, if you close and re-open the chart or close and re-open the platform, and it resets itself to true. The only solution I have for that is don't close your charts or platform. I leave mine running all the time during the trading week.

      I hope that helps!

      • murattt 28 March 2010 at 9:54 pm #

        Thanks for the kind reply DP

        …am I understanding well, are you working on a second release?

  40. Gio 27 March 2010 at 2:40 am #

    DP,

    please kindly give guesstimate when the EA for MBTrading will be available? good job, thanks

    • DietPipsi 28 March 2010 at 12:39 am #

      I am no good at guesstimates. Three weeks ago, I would have answered "about a week or so" but I would have been wrong. Do please see below for several members discussions of updates they put in. If you are not at all familiar with the inside of a .mt4 file, that is an easy way to break your EA. But since yours isn't working anyhow, that would not really be a problem.

      I hope to have an updated and fully working version to post ASAP because I too want to use it on my MBT live account!

  41. Mark 26 March 2010 at 8:07 pm #

    DP,
    Thanks for the EA for managing trades. I have taken you code and modified it to support the 5 digit and ECN brokers along with adding an option for BE strategy. If you would like to include, you are welcome to.

    Email me at: mpetersrx7[@]gmail.com

    Thanks,
    Mark

    • DietPipsi 28 March 2010 at 12:41 am #

      Hi Mark –

      You've got mail.

      And thank you for any work you have done which improves it -

  42. Mark 31 March 2010 at 6:56 pm #

    I have update DP's code to use 5-digit and a break-even strategy. He has given me permission to share the EA with everyone, which is located here:

    http://www.donnaforex.com/forum/index.php?topic=2…

    See post #19 for the modified EA. In order to download the EA, you will need to register on the site.

    I don't check this site regularly so please PM me on Donna Forex or email me shown below in my other comment.

    Thanks,
    Mark


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