Pinbar trader EA - Trading pinbars off weekly S&R levels

Pinbar trader EA – Trading pinbars off weekly S&R levels

by Dr.Hamdi Boukamcha

=== Pinbar Trader EA ===

Hello everybody, welcome !
I want to current my newest EA.
It implements a really primary, however very efficient technique. buying and selling pinbars from weekly S&R levels

– we look forward to a pinbar to seem which rejects a weekly assist & resistance degree
– When the candle with the pinbar is closed we open a brand new purchase/promote commerce on the subsequent candle

The Pinbar trader EA
The pinbar trader EA implements the technique and has a number of additional options:

  1. it scans a number of currencies. So load the EA on 1 chart and it’ll scan all main currencies by default (you possibly can change which of them within the settings)
  2. it will probably ship you alerts when a pinbar is detected on a weekly S&R degree
  3. it will probably do auto buying and selling, though please run this on demo first earlier than you resolve to go reside with this
  4. You’ll be able to select between a trailing stops or danger:reward exit technique
  5. You’ll be able to select if it ought to use a hard and fast lot sizes, a hard and fast quantity of $, or a danger % of your account steadiness
  6. It has a information filter carried out to skip buying and selling throughout information occasions

Set up:
Obtain the zip file and unzip it someplace

  1. copy the pinbartrader.tpl to your MT4 templates folder
  2. copy the SupportResistance.ex4 to your MT4 indicators folder
  3. copy the PinbarTrader.ex4 to your MT4 consultants folder
  4. Now begin MT4, allow auto buying and selling and DLL imports
  5. put the EA on a chart on the Every day (D1) timeframe !

and voila..
By default auto-buying and selling and alerts are turned off. So allow them if you wish to use them

Supply code:
Wish to become involved ? yow will discover all supply code for this (and my different ea’s & indicators) on GitHub

Connected the outcomes of a 2-year backtest on EURUSD

Concept’s for the subsequent model/future:
– open trades on 50% retracements off the pinbar.
– add a distributed S&R filter. As an alternative of making an attempt to calculate the proper S&R levels, merely obtain them from a central server.
– ship alerts for imply reversal setups (and maybe auto commerce these)
– open with-the-pattern trades on pinbars for pinbars on/to the imply

Common utilization:
The EA will present you a desk with the pairs which have a pinbar or are at a weekly S&R resistance degree.
Pairs which have no pinbar and are usually not at a weekly S&R degree are filtered out and are usually not proven.
In brief.. the EA will solely present pairs which seems fascinating
Off target when time goes by new pairs will likely be proven or eliminated routinely.

The colour of a pair signifies if we want to purchase (inexperienced) or promote (purple)
When all alerts are legitimate the final column will comprise the phrase purchase or promote and when this occurs the EA will ship you an alert and/or open a commerce.
If you wish to have a look at the chart , then merely click on on the identify of the forex pair within the 1st column (e.g. EURUSD within the screenshot)
It will open a brand new chart with the S&R indicator connected so you possibly can take a fast look

When auto-buying and selling is enabled the EA may also present you a listing of all open trades and a commerce statistics panel the place you possibly can preserve observe on its efficiency

Guide Trading 
The EA can be utilized as an support for guide buying and selling or it will probably do automated buying and selling.

For guide buying and selling simply set sendAlerts=true (and/or sendEmails = true)
The EA will then ship an alert (or e-mail) when it detects a legitimate purchase/promote sign.
Alerts may even be ship to your telephone!
See right here on find out how to set this up : http://www.cmapllc.com/how-to-set-up…nd-iphone.html
While you obtain an alert you possibly can have a look at the chart and when you just like the sign or not and maybe open a commerce manually

Automated Trading
For automated buying and selling simply set allowTrading=true and select your lotsize and exit technique
The EA will open trades routinely when it detects legitimate purchase/promote alerts and handle these trades for you.
When auto buying and selling you will need to inform the EA how a lot cash it’s allowed to make use of for every commerce
Right here you could have 3 choices:


Mounted Lot Measurement / commerce

Set MoneyManagent = UseFixedLotSize and fill in your lotsize beneath FixedLotSize

Every commerce opened by the EA will use this fastened lot measurement

Mounted Quantity of $ / commerce

Set MoneyManagement = UseFixedAmount and fill within the quantity of beneath FixedAmount.

Word that that is your account forex. So in case your account is in EUR then FixedAmount can be in EUR

Every commerce opened by the EA will use a hard and fast sum of money.

When the SL is greater it should use a smaller lotsize and when the SL is smaller it will probably use a better lotsize.

So it should at all times danger the identical sum of money on every commerce

Share of Account Stability / commerce

Set MoneyManagement = UsePercentageOfAccountBalance and fill within the proportion (1-100) beneath RiskPercentage.

Every commerce opened by the EA will danger a hard and fast % of your complete steadiness

So when you have a $1000 account and Riskpercentage = 5 it should danger 5% of $1000 = $50,- / commerce

Exit Methods
Right here you possibly can select between a trailing cease or a hard and fast Danger/Reward ratio
Trailing cease:

Set trailingmethod=UseTrailingStops and fill within the OrderHiddenSL, OrderTSx , OrderTSxTrigger levels

It makes use of a hidden / digital stoploss.

This enables us to place the cease loss wherever with out the dealer understanding and with none dealer restrictions

So.. When the EA locations a brand new order then the preliminary hidden/digital stoploss is positioned on the S&R degree

then when commerce will get into revenue we path the hidden / digital stoploss like this:

when revenue reaches Order TS1 Set off pips, the digital stoploss is moved to Order TS1 pips

when revenue reaches Order TS2 Set off pips, the digital stoploss is moved to Order TS2 pips

when revenue reaches Order TS3 Set off pips, the digital stoploss is moved to Order TS3 pips

when revenue reaches Order TS4 Set off pips, the digital stoploss is moved to Order TS4 pips

when revenue goes above Order TS4 Set off pips then the remaining will get trailed with a Trailing Step

Danger/Reward ratio

Set trailing technique = UseRiskRewardRations and set TakeProfit to your R:R

Connected Photos (click on to enlarge)
Pinbar trader EA - Trading pinbars off weekly S&R levels   Pinbar trader EA - Trading pinbars off weekly S&R levels   Pinbar trader EA - Trading pinbars off weekly S&R levels   Pinbar trader EA - Trading pinbars off weekly S&R levels
Pinbar trader EA - Trading pinbars off weekly S&R levels
Connected File
Pinbar trader EA - Trading pinbars off weekly S&R levels   pinbar trader ea.zip   242 KB | 237 downloads
Massive Thank’s To :
Pinbar trader EA - Trading pinbars off weekly S&R levels   ebeckers

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