Some might ask why this thread wasn't started on the programming discussion's forum; Well, I thought about it. But the purpose of this thread isn't making nor modifying the EA - it's to discuss its trading, whether it's on the pair & timeframe it ...

4H 5EMA System's EA

We will get the chance to do all those things - if I might add, why not a smaller timeframe too (like the 3H)?

4H 5EMA System's EA

You are right - the group involved in making/testing/approving the EA is taking its time to do the things right, with no rush, no pressure, because we want it to exactly replicate the rules and the manual trading of the system. When the green light ...

4H 5EMA System's EA

I'm glad to see you are all getting through the rules correctly The only unanswered question since I left seems to be this one you posted. Take a closer look: The last red bar was our new setup bar (because the previous 2 red bars didn't make it ...

4H 5EMA System

Guys, piptrees' chart is different, in his case he is in a trade.

4H 5EMA System

In your chart (Interbank), you had that reverse order placed since the reversal bar that triggered the short closed, right (the bar after A)? So that buy order was placed with the low of the reversal bar as a stoploss; At the close of each next bar, ...

4H 5EMA System

Well, that was a fast "in and out" We are flat again - stopped at 1.5169. (This is called a failed reversal bar.)

4H 5EMA System

That's Alpari alright, that's what I've got. Well, we're finally in a short now For those trying to understand the details: This is a reversal bar, with: entry at 1.5051; SL at 1.5169. We will only place our reverse order once this bar closes ...

4H 5EMA System

pitpiter, Your chart isn't the regular chart we're using as default in the thread (ours are Alpari); yours has a different closing time, so bars are different. For that reason, trades aren't the same as the ones being posted by Sterling (and by most ...

4H 5EMA System

You've got something wrong Mike... currently there's no stoploss, because we're flat (out of trades) since the bar that started at 8:00 yesterday (Alpari UK).

4H 5EMA System

Thank you, glad to help You can also do as howard said, print the rules and have then beside you. What I did at the beginning was to have another webpage openned on the first post, to check while following the thread. You don't have to worry ...

4H 5EMA System

That's probably the most difficult concept to learn in the rules... the meaning of reverse, reversal, and in which situations they apply. When we say "reverse" a trade, it reffers to when you're long and have a signal to go short (or the opposite); ...

4H 5EMA System

If not followed immediately by a reversal bar, you keep the orders where they are. You get 2 shots at getting a reversal bar; If not followed within those 2 bars, you look for a new setup bar. This also means you remove the sell stop order; The SL ...

4H 5EMA System

Carefull, it's SL, not TP; if you're long, it will always be placed below the current price, so it's a SL. Imagine it like a Trailing Stop that is manually moved. As for the newly entered sell stop, yes, you put a SL for it, at the high+8 of the ...

4H 5EMA System

You've got something wrong there. What you have to imagine is that you only go to check on the trades (and place orders) every 4H, so: Yes, correct; Don't know what you mean by "we put trigger on bar B"... We don't do anything until it's closed. ...

4H 5EMA System

What you're missing is that your SL is your take profit order; If you're in a long, this long will only be closed when you'll enter short; For that, at some point you'll have a setup bar to go short, at which low +5 pips you'll place the SL on the ...

4H 5EMA System

Well, reversal bar failed to come within the two bars following the setup bar, so we continue flat, and now waiting for a new setup bar.

4H 5EMA System

Even so I was looking back to see if I was wrong on this, as I'm not trading it either... will be going to work soon, so I'm out. Will catch up with you guys later. Edit: CitiTrade, for the current setup bar, you're right.

4H 5EMA System

Resuming the situation: We started the week entering long. That first bar was a setup bar for a short; Second bar made the same high and became the new setup bar; Third bar triggered the short and then made a new high, stopping us and leaving us out ...

4H 5EMA System