EA: Binary Options Star Profit
This is an expert advisor for the Star Profit Indicators: Star Profit Channel, Star Profit Option.
It is based on the strategy explained here:
The Star Profit has 7 Channels (3 above and 3 below a mid channel) and Green and Pink Stars.
How the EA works:
– Waits for Upper or Lower Channels to get Crossed
– When Green Star appears and Lower Channel is crossed it does a BUY
– When Pink Star appears and Upper Channel is crossed it does a SELL
In code you can change the channels by changing these lines:
double StarChannel_Up = iCustom(NULL, PERIOD_CURRENT, "Star_Profit_Channel", 120,3,0.7236,1.1708,1.618,"stopsell.wav","stopbuy.wav",false,false,false, 1, 1); double StarChannel_Down = iCustom(NULL, PERIOD_CURRENT, "Star_Profit_Channel", 120,3,0.7236,1.1708,1.618,"stopsell.wav","stopbuy.wav",false,false,false, 4, 1); double StarChannel_MidUp = iCustom(NULL, PERIOD_CURRENT, "Star_Profit_Channel", 120,3,0.7236,1.1708,1.618,"stopsell.wav","stopbuy.wav",false,false,false, 0, 1); double StarChannel_MidDown = iCustom(NULL, PERIOD_CURRENT, "Star_Profit_Channel", 120,3,0.7236,1.1708,1.618,"stopsell.wav","stopbuy.wav",false,false,false, 0, 1);
Using outer channels will give fewer signals but more accurate results. The Channel buffer numbers are as shown in the image below.
So, for vars StarChannel_Up and StarChannel_Down just change the second last value to the Channel’s buffer. e.g.: (4,1) means Lower innermost channel.
Another problem that I found is if the price does reverse and crosses a Channel but goes too far, then it might reverse again really soon:
So, I have added another condition to check:
Even if Arrow is there but if it goes below Mid Channel then don’t Trade.
To make it more restrictive, uncomment lines:
StarChannel_MidUp = StarChannel_Up - (StarChannel_Up - StarChannel_MidUp)/2; StarChannel_MidDown = StarChannel_Down + (StarChannel_MidDown - StarChannel_Down)/2;
This will check if price crosses half of the UpperChannel-MidChannel.
It won’t trade in this case.
You’ll get fewer signals but it will be more accurate. Fine-tune it more by changing this value.
– Star Profit Strategy (as explained above)
Set MM_Martingale_RestartLoss to true in the EAs Options – for no martingale.
– Strategy Tester CSV file:
– Screenshots in case of Loss:
Set TakeLossScreenshot to true in EAs Options.
All the files for the indicators as well as the EA are attached here:
Note that the Channel keeps moving so if you see a trade after sometime, the Arrow might have moved above/below the Channel by that time. So, to see the accurate position of channels when the trade was made I suggest you use TakeLossScreenshot as true.
The Arrow indicator repaints during current candle, so we always take Close and never Close.
I have had many successful trades with this EA on M5 chart with 5 bars expiry using Martingale. But it works best if the market is not sideways. Can give losses in sideways or a really choppy market with very high jumps.
So, please use with DEMO account first. And try to use during successful times like the London Open.
Another similar EA that I will recommend is the ForexPips EA:
It has been more successful for me than the Star Profit one.
We can work together and make it better. So let me know of any suggestions/comments you might have.
Hope you enjoyed this post. Thanks for reading!
I have noticed that Star Option Indicator repaints the Arrow even after the current candle closes. In the next candle. So, this is a major problem for this EA.
Because if we use Close it is too late to use the Arrow signal. And using Close might mean that the Arrow will get repainted by next candle.