You are quite right. I should have enlarged the chart!

Magic 5 - five pips only

If I can point this out from my perspective, you entered a long trade without regard to the RSI coming from a low signal.

Magic 5 - five pips only

Look 7 posts up

Magic 5 - five pips only

Here's a summary of the inputs for the EA MAGICMA = 123450 ...................Each chart will need it's own unique MAGICMA Trade0Alert1Both2 = 0 ...............Trades only, alerts only, or both LotSize = 0 ...............................If you set ...

Magic 5 - five pips only

At the suggestion of tk5, I have now added an extra input parameter to give the option of trades, alerts or both Trade0Alert1Both2 = 0 for trades only Trade0Alert1Both2 = 1 for alerts only Trade0Alert1Both2 = 2 for both trades and alerts At the ...

Magic 5 - five pips only

A couple of other points. Don't forget to change the MAGICMA for each chart if you are using the EA on multiple charts. Lot Size (if changed from zero) overrides money management rules.

Magic 5 - five pips only

I have updated the trading EA to reflect some of the very good ideas in this thread. please refer to post #149 The significant changes are - Trading Hours can be nominated 3 News avoid times can be specified Min break of SMA can be specified ie. a ...

Magic 5 - five pips only

ATRLookback MinATRPips for Average Trading Range RSICalcPeriods TopRSI BottomRSI for RSI determination

Magic 5 - five pips only

Hi tk5 You alluded in your previous post about this the importance of RSI. Having read the thread and the apparent exuberance of people who have made a genuine profit, I am in the same boat as you. Give me guidance and I will respond. You and I have ...

Magic 5 - five pips only

The EA has a pre set of 5 periods and a 5 pip value. I am reticent to provide default values but I invite you to optimize the parameters. Tk5 offered this as a manual system. I only offer the EA as a challenge to people such as yourself to pass on ...

Magic 5 - five pips only

You are spot in. Tk5 started this. Pass it on to people who can add constructively.

Magic 5 - five pips only

Hi shoot2scoot I suspect that the answer may be that the market is ranging and that may be your answer.

Magic 5 - five pips only

You appear to be exasperated. Your wisdom is valued by this rapidly growing post, I appreciate your idea and that's why I contributed. By all means get those stupid questions referred back to the whole context of the post. Unfortunately newbies ...

Magic 5 - five pips only

tk5 Be kind. These are your allies.

Magic 5 - five pips only

You're absolutely right. Thanks for the message. Revised EA enclosed. Dave

Magic 5 - five pips only

Words of wisdom!

Magic 5 - five pips only

I'm very aware of what you are saying and I will work on this because I suspect 24/5 should be something like 12/5. I'll try to run an optimization but this can be subjective!

Magic 5 - five pips only

Guys and Gals This is just an auto implementation of the principals of tk5. For those of you who have not been trading for a while, please remember that Technical Analysis must be associated with Fundamental Analysis and in the case of Forex, ...

Magic 5 - five pips only

Ok. I have changed the EA. If you leave the Lot Size at 0, Money management will be set by Equity and Maximum Risk percentage. If you set the Lot Size manually, Lot Size will remain as pre set.

Magic 5 - five pips only

I am enclosing an updated trading EA with a number of adjustments. Trades will be rejected 1. If RSI does not indicate appropriate movement with last 10 bars. 2. Average trading range is too small 3. Wrong side of moving averages. if the pre set ...

Magic 5 - five pips only