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.
EA Supports:
– Star Profit Strategy (as explained above)
– Martingale:
Set MM_Martingale_RestartLoss to true in the EAs Options – for no martingale.
– Strategy Tester CSV file:
Created here:
– Screenshots in case of Loss:
Set TakeLossScreenshot to true in EAs Options.
Download:
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[1] and never Close[0].
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!
Updates:
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[2] it is too late to use the Arrow signal. And using Close[1] might mean that the Arrow will get repainted by next candle.
