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 Nicotina GJ Breakout strategy: an auto-trader by SteveHopwood

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Join date : 2011-04-12

PostSubject: Nicotina GJ Breakout strategy: an auto-trader by SteveHopwood   Sat May 28, 2011 2:22 pm

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Nicotina GJ Breakout strategy: an auto-trader by SteveHopwood


  • Most Forex traders lose all their money.
  • Using the robot posted here in trading Forex does not guarantee success.
  • Trading this robot could lead to serious financial loss.
  • Trading this robot without understanding its underlying trading strategy guarantees traders will lose their money.

a2xm pm'd me with a summary of this thread,, asking me to code an EA for it.

So, welcome to "Nicotina GJ Breakout auto trading robot by Steve Hopwood" - Nico for short. Do not us it on your live accounts just yet.
I have had some problems with the logic required to take care of a
platform/EA restart. In backtesting using Strategy Tester, trading stops
quite quickly, so there have to be some bugs.

We need to ensure that Nico works properly on demo before committing it
live. I have no doubts about the durability of the strategy; any
strategy/thread that is still going 4 years after it started has to have
something going for it.

For an excellent summary of the trading rules, read this post by Gt3rs

Once the bugs are ironed out, Nico will carry out this
list of instructions. It also offers the standard cut-down mptm features
I include in all my robots these days. To get all mptm's features, go
to to download the full version and the user guide.

If the market is already outside the box when it comes time to send the
pendings, Nico will instead send an immediate market order provided the
current/previous candle opened inside the box (new candle will open at
or very close to the previous candle close). If the market is too close
to the hi-lo, then Nico will wait; either the price will return to a
level at which the trade can be sent as a pending, or it will send an
immediate market order when the price leaves the box.

Some of Nico's inputs might need explanation. A couple of points to note first:

  1. all time inputs should be in your computer's local time.
    Nico will draw a box for you, outlining the hi-lo calculation period
    represented by your inputs, so making changes is easy. Do not question
    me about this; I shall ignore you.
  2. Nico accommodates x-digit criminals, so all pip inputs are in
    'proper' pips, not points. When entering these inputs, think 2-4 digit

  • StopTrading: this allows you to use Nico simply to draw the box for you. If set to 'true', the bot will not send trades.
  • RangeCalculationHour is the time you want Nico to calculate the
    hi-lo of the previous 8 hours. You will have to experiment with this to
    draw the correct box.
  • PendingExpiryTime is the time at which you want unfilled pending trades to expire and be deleted from the platform.
  • CloseHour is the hour at which you want your filled trades to close
    whether in profit or loss. Set this to some value > 24 to effectively
    turn off this feature. Those of us experimenting with using mptm's
    hedging instead of a stop loss need to remember this.
  • TradeTheRetrace: this is not part of Nicotina's strategy and is my
    experiment. If set to 'true', Nico will send a pending buy_limit order
    at the sell pending's take profit, and vice versa for the buy pending.
    The default is false, so you have to elect to try this out.

So, pop Nico on a spare GJ demo chart, pick a magic number that will not
interfere with your other trades and watch to see if he does his job
properly. You would not normally mix ea's on the same platform, but you
can probably get away with doing so with Nico.

I am not sure how much of this post is still relevant. Paul (batemap)
has taken over Nico's coding and is sorting out the time thingy. This
apparently simple bit of coding turned out to be an effing nightmare, so
a huge round of applause for Paul.

The version posted here will fill your journal with debug statements;
once we are sure the bot is working as intended, we will turn ththis
feature off.
Real Money Doubling Forex Robot Fap Turbo - Sells Like Candy!


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