Forex Station EA

1
INTRODUCTION
Here is a proposal to build an EA for Forex Station. Since I'm not a coder I can share the method here and perhaps a kind coder could build the EA for the Forex Station community.

The idea is to make a system that never loses overall by solving losing trades with a Break Even plan, but when there is a profitable trade it will run with it.

I have chosen mladen mrtools trend following system here as it gives great arrow signals. However any good non-repainting indicator can be used.

BREAK EVEN INDICATOR
I always have this indicator on my screen and I trade manually using this to solve losing trades as I will describe below.
TREND FOLLOWING SYSTEM
You can study this system here: viewtopic.php?f=578267&t=8472814&hilit=mladen+system
However we are mostly concerned with the Step One More Average 2.3 indicator that generates the arrow signals that we will use for the EA.
EXPLANATION
Here is a graphical guide to the system.

Step 1 Step 2 So we are swing trading until something goes wrong.

Step 3 Step 4 Now it goes wrong!

Step 5 When the Break Even line is hit one trade will lose and one will win, breaking even. You could add a percentage to this, say 10%. Meaning that the break even line will be placed to make 10% more on the winning trade than the loses on the losing trade, yielding a small profit rather than just a break even. It can also take spread into account.

Step 6
INPUTS
Here is a graphic with some suggested inputs.
Break Even Percent - As explained above, break even can be set to close a certain percent in profit rather than just dead break even.
Lot Size - Choose a lot size for each trade. The system shouldn't increase the lot size with each trade like martingale systems do.
Buy Only - You want the EA to only execute Buy trades.
Sell Only - You want the EA to only execute Sell trades.
Losing Trade Buy and Sell - Like in Step 4 in the Graphics above, it did not execute the Sell trade as there was a Losing Buy trade. However you may wish it to take the Sell trade and manage the Sell trades too. In the case of Step 4 it would now be managing a losing Sell trade too.

WHAT TO TRADE AND WHICH TIME FRAME
The only way this system can lose is if you make a bad decision in a highly trending market like say Selling the NASDAQ over the last few years, But even here on a Daily chart it would have recovered. So the market and time frames are important. I trade GOLD and switch between M15 and H1. M15 when it is ranging and H1 when it is trending. If you go the wrong way against a trending market switch to a higher time frame. That way you will get less signals and therefore less trades and thus preserve margin.


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