Good morning

By way of explanation, I had this attached MT5 Gann Timer indicator coded for me. This Gann Timer is solely a time based indicator and ignores price, volume, patterns etc. I was initially dismissive of its usefulness, but over time I see that it has some validity. However, it is difficult to trade manually and thought it may be better suited as an EA robot.

I have attached the Ex5 indicator and the MQ5 source file for you along with other explanatory documents.

I hope the following makes sense. It is a copied re-write of the Phyllis Kahn paper that I have attached. If in doubt refer to her original work or drop me a note.

I have 2 topics. The first relates to the existing Gann Timer v2.07 and the second relates to the newly proposed Gann Timer Expert Advisor (EA).

Some requested improvements to v.2.07 will replicate over to the EA. This is the “Rolls Royce” version of requests, and we can discuss the usefulness, added complexity and price as we continue.

    A) Gann Timer v2.07
           1.	Personal Ideas – If you have some personal ideas as to how to optimise and improve the Gann Timer, please discuss these with me and perhaps incorporate them into the requested tweaks. 
           2.	Duplication of Cluster Dates – There is a duplication of Calendar Days (CD)  and Trading Days (CD) due to the aggregation tolerance applied to the cluster dates. They come from different pivot points but they appear on the same cluster line because of using Aggregation Tolerance (±days = 1). We should delete this re-occurrence as it does distort the count and it will distort the EA as well.  
       
           3.	Extend the Gann Timer Window – from 5 days to 6 days, as per the attached Phyllis Kahn paper i.e. 2 days before, then the day of the cluster, and then 3 days following (not 2 days following). 
       
           4.	Add – weekly and monthly cluster dates.
       
           5.	Alerts – v2.07 has a standard alert when entering the cluster window and on the cluster date. 	Can you add separate alerts to v2.07 for the following:
                i. 90 Calendar Days (CD) only – Stand alone              ] This would contradict the standard 
                ii. 180 Calendar Days (CD) only– Stand alone             ] minimum 3 cluster rule to create a time 
                iii. 90 and 144 and 180 both TD and CD – Stand alone ] window and must be adjusted?
                iv. 4 plus cluster dates
                v. Weekly cluster dates 
                vi. Monthly cluster dates
		This may be as simple as the numbers beside the column being in red or yellow etc.

    B) Expert Advisor – Gann Timer
        1. Replicate – 1 through 5 as above
        2. Follow the attached Phyllis Kahn instructions for entry, stop-loss, take profit, and trailing- stop-loss.
            i. The trend just prior to entering the time window should be established somehow. Or, do we just let the market move into the buy or sell stop-order itself to trigger the opening of the trade?
            ii. The time window trade entry should be a reversal trade from a previously falling or rising price. Two trading days prior to the cluster date itself, at the opening of the time window, a buy or sell stop-order is placed above or below that days high or low. If no reversal occurs the buy or sell stop-order continues to trail the market up or down throughout the period of the open time window of 6 days. The buy or sell stop-order is then cancelled at the closure of the 6 day time window if no trade has been triggered. 
            iii. The EA must be flexible with the buy/sell entry stops e.g. 40 points = indices and softs; gold = 40 cents; silver, soybeans, grains = 4 cents; currency pairs = 25 points. Can the EA be made to account for these individual types of instruments? Something like a template? Or, should the EA be restricted to Forex only?
            iv. When a trade has been triggered, a stop-loss is automatically placed in cents or points (as per iii. above) above or below the high or low of the day – not the entry price. When the trade has been profitable for 72 hours, then the stop-loss is raised and trails the price from the previous 48 hour. And, subsequently moved each following 24 hour period to the previous 48 hour price. If there is no further increase to profit this “trailing-stop-loss” stays still. As in a standard trailing-stop-loss. 
            v. A money management system needs to be incorporated such as the attached EG Money Management indicator. It tracks account equity, and projects lot size together with a stop-loss. The risk variables are able to be adjusted.
Thanks.
Karl Christoffersen