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About the EA:

This EA is a hybrid utilizing several of the functions and tricks for tuning found in my other EAs. Based on the previous bar's PSAR level, the EA places pending long orders for PSAR dots that are above the price bar and pending short orders for PSAR dots that are below the price bar. The idea then being once the market reverses its trend the pending orders that were placed would get triggered putting you into the market in that direction. The PSAR settings are completely able to be customized as well as many orther settings like take profits, stop loss, trailing stops, break even, blackout times, etc. Please take a moment to check out the testing videos below for a clearer picture of what the EA does and how it performs.

Here is a summary of the functions.

• Pending Long/Short orders are placed at the previous PSAR levels
• Allows up to 5 orders to be configured with the following parameters
  • Lot size
  • Take profit
  • Stop loss
  • Break even (when x profit achieved then move stop loss to break even)
  • Break even offset (Break even minus x pips...)
  • Trailing stop triggered (x pips positive triggers the trailing stop)
  • Trailing stop amount (trail current order by x pips)
  • Ability to make settings concrete or percentages based on stop loss
  • If stop loss is set to 0 then EA calculates stop loss based on the bar that placed the pending order
  • Set custom order comment (new)
• Trailing stop based on previous bar's PSAR level
• Sends e-mail of current status and history
• Blackout times for no trading (new)
• Ability to set PSAR levels
• Chart display of profit/loss history
• Money Management

Special notes:

• Can be run in any time frame although Daily was used when writing and testing the EA
• It is extremely important that MT4 run all week with the charts open and EA attached. No EA can do its thing unless everything is running. That's why you have an EA to trade for you.
• Currently supports all brokers
• To obtain a copy of this EA for Live/Demo use, please click here.

How the EA works:

Below you will find video(s) showing:

• How to attach the EA and configure the settings
• What those settings mean and how they affect the EA's operation
• A Strategy Tester run through showing trades placed and why they did what they did

Playlist (hover your mouse over the player to view other videos in the playlist):

A special thanks to all who have supported this EA and continue to support it.

Trade history for 2008-09-14:

Daily .03 PSAR - Playlist (hover your mouse over the player to view other videos in the playlist):

Daily .1 PSAR - Playlist (hover your mouse over the player to view other videos in the playlist):

Trade history for 2008-10-12:

Playlist (hover your mouse over the player to view other videos in the playlist):

Testing

I wanted to share the final test of the EA. I've created some video of my Web Server running Strategy Tester in MetaTrader. As you all may know I do not put much stock in Strategy Tester however I do use it a lot when testing new EAs to get an idea if they're functioning the way they should. This process helps me to uncover some of the bigger bugs that may exist and polish the EA before its initial release. It may also help me to trace back recent history of something that happened that I missed so I can catch bugs as well. Below you will find some videos of these tests. Although the initial run through looks very promising I can not promise that future forward tests will do as well.

Playlist (hover your mouse over the player to view other videos in the playlist):

Alright I just watched the video above and the quality is crap as usual. I'm still new to making my own videos for YouTube and I don't know if it's just me or if all the videos like this are junk. I've viewed several other videos about Forex and they all look bad too so I guess that's just the way it is.

Since you can't see the final numbers they were...

P/L: $1,959.00
Swap: $35.69
Total: $1,994.69

Pips: 1,959
Total Orders: 24

It ran from January 1st through roughly April 24th (2008).

Here is the final results for the test run above. This is where it ended up long after the video got too long.

2,949 pips from 1/1/2008 through 8/28/2008.

I'm sure this could be tweaked but the settings I chose were more for testing the functions that trying to make a lot of money although it did pretty good.

Attached Image (Click thumbnail to expand)

Hi MTaboneWeb

You can use vimeo to upload clear high definition videos.

Thanks for the info, I'll check it out.

Matt

GBP/USD test video added.

Also, I am replacing all my YouTube videos with Revver videos because the quality is far better. The downside is that playlists can't be embedded for Revver videos or at least I haven't found a way yet. Therefore, the videos need to be added individually for now.

Matt

Finished reformatting the first post. I like the format here better than what I've done in the past. I plan to migrate all the other EA threads in this direction. Video is currently being made and will be posted ASAP.

I will post again once it's added.

Thanks,
Matt

The first 2 videos describing this EA have been added to the first post. There will be 2 more posted in the next day or two showing how the EA works in Strategy Tester. Right now there are 4 but there will be 6 when completed.

Do you think this is helpful in getting a better understanding of the EAs? This would be my plan for the other EAs as well.

Matt

Special note: To those who have already purchased the package from me (to this date) before the RollerCoaster EA was developed/released...

You should already have access to the download section for this EA. It's not that long since the site opened and I started selling any packages. I wont take money from anyone who purchased the complete package already from me to this date. It is not my intent to make my fortune on selling my EAs. The money I've received so far has helped, this EA was released quickly from the site's open, and so I want this one to be on the house for those who went the extra mile and got the package.

I have no desire to nickel and dime for every little thing.

There will be other EAs developed and the support I've received is very much appreciated.

Have a great weekend,
Matt

P.S. More results and videos will be posted tomorrow for this and other EAs.

Thanks for the Rebate on this EA Matt. I didn't realize I had access to it already.

The videos are an excellent idea. Especially to help explain the settings.

Keep up the great work!

Glad to hear that they help. I'm not an actor as you can plainly here on the videos but I thought they would help answer a lot of questions by seeing the setup and hearing the settings discussed verbally.

Thanks again,
Matt

Hi Matt

I am setting up this EA and finding that only order1 is being placed.

Let me know if you need more info.

Thanks
Dan

Final 3 videos have been added to the first post.

Hi Matt

Do you have any idea why my EA is only placing the first order?

Thanks Dan

Dan,

Can you post your settings? That's the only way I can get an idea of what might be happening. Also, make sure that you actually have a take profit and lot size for any order you want placed.

Matt

Dan,

Can you post your settings? That's the only way I can get an idea of what might be happening. Also, make sure that you actually have a take profit and lot size for any order you want placed.

Matt

Hi Matt

Thank you for the response.

I did not have a TP set for the second order. I was hoping to use a trailing stop to TP ie PSAR trail. That may very well be the issue.

I am now testing with a very high TP so I will have room to trail.

I will post the settings for your evaluation if setting a TP does not solve the issue.

Thanks Again

Dan

Dan,

Can you post your settings? That's the only way I can get an idea of what might be happening. Also, make sure that you actually have a take profit and lot size for any order you want placed.

Matt

Hi Matt

Thank you for the response.

I did not have a TP set for the second order. I was hoping to use a trailing stop to TP ie PSAR trail. That may very well be the issue.

I am now testing with a very high TP so I will have room to trail.

I will post the settings for your evaluation if setting a TP does not solve the issue.

Thanks Again

Dan

No problem. There are 2 things that need to be set for a trade to happen for sure and that is lot size and take profit for this EA. It will not open trades if those are configured.

Thanks again,
Matt

Dan,

Can you post your settings? That's the only way I can get an idea of what might be happening. Also, make sure that you actually have a take profit and lot size for any order you want placed.

Matt

Hi Matt

Thank you for the response.

I did not have a TP set for the second order. I was hoping to use a trailing stop to TP ie PSAR trail. That may very well be the issue.

I am now testing with a very high TP so I will have room to trail.

I will post the settings for your evaluation if setting a TP does not solve the issue.

Thanks Again

Dan

No problem. There are 2 things that need to be set for a trade to happen for sure and that is lot size and take profit for this EA. It will not open trades if those are configured.

Thanks again,
Matt

Yeppers! Confirmed.

The EA is now placing Order1 and Order2 now that I have indicated a TP for both.

Thanks for your help.

Dan

Hello. Has the EA placed any trades yet? I am getting the buy stop orders, but none have trigger yet.

Thanks. Jeff

Hi Jeff

This will depend on your TF.

I am testing on 1hr TF just to make sure orders are placed and managed etc.
So far so good.

I will then move up to a higher TF. Probably daily for next week.

Dan

p.s. does your EA have a smilie face in the upper right hand corner? If not it will not trade.