CowabungaEA-by-TheTradeMachine
Contents
1. swing high low is too far away TPMustBeGreaterOrEqualToStop Enter true false True if you want your take profit to be greater than or equal to the value of your stop loss False if you do not require your take profit to be greater than or equal to the value of your stop loss This setting is a risk reward setting Take profits are generally taken at the closest 00 or 50 levels according to PipSurfer s specifications However there may be times when the nearest 00 or 50 level is very close and your take profit is considerably less than your stop loss risk If you select True the EA will set the take profit to the same size as the stop loss in the cases where it is less EMA4HrFastPeriod Let s you change the exponential moving average period Default 5 7 Page Copyright 2009 TheTradeMachine com Corporation Trade ere EMA4HrSlowPeriod Let s you change the exponential moving average period Default 10 EMA15MFastPeriod Let s you change the exponential moving average period Default 5 EMA15MSlowPeriod Let s you change the exponential moving average period Default 10 AvoidNewsStart1 Enter GMT start time of news event 1 Note You must enter the time in correct format with a digit in all 4 positions 00 00 See below The EA will not trade during the start and ending time periods you select You must select both a start and ending time You must also set them back to 00 00 at the end of the da2. A applied to the close 10 EMA applied to the close Stochastic 10 3 3 Use slow and simple settings RSI 9 Simple ee hy 15 MINUTE CHART SETTINGS 1 5 EMA applied to the close 2 10 EMA applied to the close 3 Stochastic 10 3 3 Use slow and simple settings 4 RSI 9 Simple 5 MACD 12 26 9 Exponential histogram Make sure the histogram displays the difference between the 2 lines NOTE MT4 Indicator OsMA is used here 3 Page Copyright 2009 TheTradeMachine com Corporation Trade COWABUNGA RULES ENTRY The Cowabunga system trades off of the 15 minute chart but uses the 4 hour chart to determine the underlying trend Trades are only placed in the direction of the 4 hour trend 4 HOUR CHART MAIN TREND IS LONG WHEN 1 5 EMA must cross above the 10 EMA 2 RSI must be greater than 50 3 Stochastic must be headed up and not in overbought territory 4 HOUR CHART MAIN TREND IS SHORT WHEN 1 5 EMA must cross below the 10 EMA 2 RSI must be less than 50 3 Stochastic must be headed down and not in oversold territory 15 MIN CHART ENTER LONG TRADES WHEN 5 EMA must cross above the 10 EMA RSI must be greater than 50 Stochastic must be headed up and not in overbought territory MACD histogram must go from negative to positive OR be negative and start to increase value We want to catch trends early so the MACD histogram must be negative Pe E 15 MIN CHART ENTER SHORT TRADES W
3. ET 4pm ET 5 Page Copyright 2009 TheTradeMachine com Corporation the Trade CowabungaEA can be run on any chart timeframe however when you first load it you must make sure to load the chart history data for the 15 Minute and 4 Hour so that the indicators have tick data to run from To do this select each timeframe at the top and let the chart load After doing this we recommend running it on the 15 minute chart since this is the chart trades are made from StartTimeGMT Enter the time you want to start trading based on your server s GMT time EndTimeGMT Enter the time you want to stop trading based on your server s GMT time AutoCloseOrdersAtEndTimeGMT Enter true false based on whether you want the EA to automatically close any open orders at the end of your trading session If you select true it will close orders regardless of your trade being positive or negative at the time LotSize Enter the lot size to trade MagicNumber Enter a unique integer MagicNumber lets you select a unique integer identifier to distinguish orders apart from other Expert Advisors or multiple instances of the CowabungaEA By selecting a different magic number for each instance of the CowabungaEA you can run multiple instances of the CowabungaEA on the same or different currency pairs for the same forex account MinTP Enter the minimum take profit in pips This should be at least 10 pips Some trading se
4. HEN 5 EMA must cross below the 10 EMA RSI must be less than 50 Stochastic must be headed down and not in oversold territory MACD histogram must go from positive to negative OR be positive and start to decrease in value We want to catch trends early so the MACD histogram must be positive a ty a a 4 Page Copyright 2009 TheTradeMachine com Corporation Trade erie STOP LOSSES There is not a hard number that use for a stop loss Instead use either the most recent swing low for long trades or the most recent swing high for short trades as my stop loss EXITS amp TAKE PROFITS Generally 50 and 00 levels will be your targets What is a 50 or 00 level It s simply any price that ends in 50 or 00 For example 2550 and 2600 are examples of 50 and 00 levels respectively However if you are too close to a 50 or 00 level you can also choose to set your target for the same amount of pips you are risking For example if you re going long and your entry is at 2445 and your stop loss is at 2425 you would be risking 20 pips You could then set your target for 20 pips away from your entry So in this example your target would be 2445 20 2465 NEWS will never trade a news candle or the candle before it If I am in a trade anda major news event is coming up will exit my trade before the report is released will however trade a candle after the news provided all my criteria are met TRADING HOURS 12 Midnight
5. Trad COWABUNGA EXPERT ADVISOR USER MANUAL By TheTradeMachine com 2009 TheTradeMachine com The Cowabunga EA is based on the Cowabunga System by PipSurfer as published on Babypips com Release Version 1 0 October 26 2009 1 Page Copyright 2009 TheTradeMachine com Corporation Table of Contents COWABUNGA INDICATORS 4 HOUR CHART SETTINGS 15 MINUTE CHART SETTINGS COWABUNGA RULES ENTRY STOP LOSSES EXITS amp TAKE PROFITS NEWS TRADING HOURS COWABUNGA EXPERT ADVISOR INPUT SETTINGS StartTimeGMT EndTimeGMT AutoCloseOrdersAtEndTimeGMT LotSize MagicNumber MinTP MinStop MaxStop TradelfStoplsGreaterThanMaxStop TPMustBeGreaterOrEqualToStop EMA4HrFastPeriod EMA4HrSlowPeriod EMA15MFastPeriod EMA15MSlowPeriod AvoidNewsStart1 amp AvoidNewsEnd1 AvoidNewsStart2 amp AvoidNewsEnd2 AvoidNewsStart3 amp AvoidNewsEnd3 2 Page Copyright 2009 TheTradeMachine com Corporation Tra vade PAGE 3 PAGE 4 PAGE 6 the COWABUNGA INDICATORS The Cowabunga System was created by PipSurfer on BabyPips com See the original system here http www babypips com blogs pip my system so_youve finished _the school_o html Below are the indicators and settings used in the Cowabunga System The Cowabunga Expert Advisor by TheTradeMachine com makes use of these indicators but you do not need to load them on your chart unless you want a visual display of indicators 4 HOUR CHART SETTINGS 5 EM
6. ptimized or backtested results All software is to be used at your own risk TheTradeMachine com cannot be held liable for any financial losses incurred through the use of our software You are solely responsible for your trading activities Expert Advisor Copyright Unless otherwise specified all software and source code is for personal use only and may not be resold or publically redistributed without prior agreement 9 Page Copyright 2009 TheTradeMachine com Corporation
7. rvers require more Take profits are generally taken at the closest 00 or 50 levels according to PipSurfer s specifications However there may be times when the nearest 00 or 50 level is very close This allows you to select a minimum take profit in pips 6 Page Copyright 2009 TheTradeMachine com Corporation Trade ere MinStop Enter the minimum stop loss in pips Stop losses are based on recent swing highs or lows however sometimes price may be within a few pips of the swing high low This value ensures that the stop loss is placed at least so many pips away from the entry price Default 15 pips MaxStop Enter the maximum stop loss in pips Stop losses are based on recent swing highs or lows however sometimes a swing high low may be more pips than you want to risk This value lets you set the maximum stop loss in pips Default 50 pips TradelfStopisGreaterThanMaxStop Enter true false based on whether you want to enter trades when the swing high low is larger than your MaxStop value This setting lets you opt out of trading if the swing high low is beyond your maximum stop loss You may not want to enter the trade if the stop loss can t be placed behind the most recent swing high low while still remaining within your MaxStop limits If you select False you will not take these trades with stop losses in excess of your MaxStop If you select True your stop loss will equal your MaxStop in situations when the
8. y or they will skip this time period again the next day AvoidNewsEnd1 Enter GMT end time of news event 1 AvoidNewsStart2 Enter GMT start time of news event 2 AvoidNewsEnd2 Enter GMT end time of news event 2 AvoidNewsStart3 Enter GMT start time of news event 3 AvoidNewsEnd3 Enter GMT end time of news event 3 Correct News Time Examples Incorrect News Time Examples 07 00 7 00 12 00 12 04 17 4 17 14 45 14 45 8 Page Copyright 2009 TheTradeMachine com Corporation Trade Pury Please read before using the CowabungaEA by TheTradeMachine or any of our products or services By TERMS AND CONDITIONS requesting our services and using our software you agree to be bound by these terms and conditions Risks and Disclaimers Forex trading carries substantial risk of loss Please consider your risk tolerance bankroll and trading abilities before trading real money on the Forex market Forex Currency Trading is a high risk investment strategy Please understand that you can loose some or all of your investment While The Trade Machine goes to great lengths to code auto trading programs that are accurate and profitable we cannot guarantee the profitability or accuracy of any expert advisor It is recommended that you thoroughly backtest any expert advisor as well as forward trade it on a demo account for several weeks before using it on a live account Please note that actual trading results may not correspond to o
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CowabungaEA by TheTradeMachine