EA: Envelope Bounce 5 Min Scalp

Factory members,

I haven't used this EA in a couple years. I just got the Forex bug again and need to get this working and improved. I will try to spend time in this thread but I may not be around as much as I will be needed. So I don't mind sharing this thread with an experienced member.

This EA came from a system on another site and was done by a professional. I pulled apart the very vague code and commented things where I could. I worked tons on hours on this and even had a 1 min, 5 min and 15 min EA running for a while. They made some money but never enough to totally engage me. I worked out some great optimizations...not to over optimize but to find consistence over max profit.

The idea is simple and I honestly can't remember all the code right now but for you EA experts this should be fun. The concept is a simple envelope approach but anticipating a bounce when the envelope is breached and going after a quick profit.

Again, the EA is tight and it worked. Now I can't seem to get it to run. I'm running a demo on FXDD to get my feet wet again.

Let's work together as a team and get this EA back up and running and find some tweaks I missed. It has trading time session code and lot management. For all of our testing let's just keep using the .1 lots. I hate the 45 degree slope profit charts. Let's show real results. Also for backtesting, let's use the first quarter as a Phase I, April and May as a Phase II, and see how it performs LIVE.

Any help would be much appreciated by me and I'm sure the members of the Factory... Thanks in advance...

Minnelli

Saved for future updates...

Hi
what is the rule of the system?

thanks

In general, it waits for the price to cross the upper or lower envelope line - this causes a trigger. Then when the price comes back through the same line an order is placed with a TP of 5 and a small SL.

Example - Long Pos - price drops below lower envelope, trigger occurs, wait, wait, then when price crosses back over lower envelope a buy order is placed.

It is opposite of what you think about when something breaks a lower band. You would expect it to keep dropping. My concept is wait for it to cross back again and grab 5.

It works, you get some head fakes but it picks up 5 many of the times...

What is the best time frame/pair to use for this system?

Thanks

EURUSD 5 min. I had it running on other pairs and the logic works. I just never fine tuned a solid stop for the others. We probably need the stop based on ATR and I have that code in the EA.

Okay the system started to run. I guess the problem was the spread over the weekend for testing...but I still can't seem to test but I have it running live now. I am running both EURUSD and GBPUSD. Normally I would just run EURUSD but just for testing purposes I will run both.

All times will be FXDD time which is a 3 hour offset and 7 hours off EST.

Started out so far as -3,+5,+5
Have an active trade on EUR and GBP.

Minnelli

so far :
-3
5
5
-3
-7
5
5
-9
5
0
5
5
-21 : Need to work out a way that the 40SL doesn't hit that often
3
4

This is good EA double your envelop settings and select true for all markets. Time should be coincided with your broker time. Thank you for sharing your EA.

Can somebody send me set file

What happened?

Hello folks.

I'm envelope enthusiast and love to see this Bounce system from Minelli forex.


I believe envelop must be used as MA's channels extended so like Mr. Vizayrazu said, we must expand envelop settings.


The deal about that is I have no control of trade opening season...

... Because, I want to Open Counter Trend Trade, every time the price touch the Envelope Lines....


Today the EA open wherever he wants to.



I'm very newbie to mql4 and tried many things to fix that but had no success...



The best I'm able to do was to trigger the trades ON


(else gb_trigger_on = TRUE; (from false to true))


So every time price touch the Envelope Line New Trade opens agains the trend...


>>> BUT

If trend continues till price touch my StopLoss, unstead of EA stop and wait price come back to channel for new cycle, the EA Open new counter trend trade instantly after the STOP LOSS Close the negative one. ( not good for business)


PLUS

This EA not have any kind of breakeven and Trailing Stops to grand some profits in case TP not touched.

.....


So, for coders fans, or EA Owner.


Can I ask you to add option to open counter trend trade instantly price touch envelope line (or even better) Open counter trend trade market execution when price approach envelope level 0.10 or 0.20.... ( let user define this distance)


EA Must know that in case trend continues and trade stopped out, it must wait price bounce back to envelope channel to be ale t open new trade...

(Trade can be opene in trend direction in case price join evelope channel to center direction no problem...




ANOTHER Request but not important (but usefull) put any trade manager tool like simple breakeven + Trailling and (if possible) put some kind of partial close TP 1 TP 2 TP 3


Trade Management today I'm using Swiss Knife to take control after EA Opens Trades...




Thanks

Subs. Thanks and
Regards