Explanation of Isakas EA
Based at Cin Loi’s question about how does Isakas EA work, I will try to explain in this post because I think it is a bit longer and should be read by everyone who wants to test this EA.
Isakas EA is made based on Isakas II strategy at Forex-tsd.com. Here is the link. This strategy basically uses 4 indicators (BBStop, NonLagDot, FisherKuskus, and FlatTrend) but then modified just using 3 of them without FlatTrend.
Main Rules for Isakas II Strategy (taken from the post at Forex-tsd.com)
– bbands blue, fisher blue, nonlagdot blue.
– bbands red, fisher red, nonlagdot red.
My EA doesn’t open new position just like the picture above because some people said it is not profitable (read the full thread and you will find about it, pheew… it is a long thread). There is a rule about the valid signal because mostly the signals are not happened in the same candle. So, there is an added parameter for counting the signal at the EA’s parameter. This should be handled by “SignalBarCounter” in the EA.
For an example SignalBarCounter=3, when BBStop turn color into Blue (buy signal) but NonLagDot is still red then EA should wait for the next 3 candles until NonLagDot changes into blue. But when this condition isn’t met then EA will ignore this signal and wait until BBStop turns into different color.