Pippo：Murrey Maths Retrace EA (Pippo: A Murrey Maths Retrace EA)

I've agreed with Steve to move Pippo to a new thread for the following reasons:

1) There are people who want to contribute but can't due to voucher/buddy limitations
2) There is the possibility that this EA will evolve away from the description on the front page
3) It's tricky ensuring the latest version is easily accessible.

I strongly recommend readers of this thread to familiarise themselves with the original thread first.
http://www.forexfactory.com/showthread.php?t=297805

I equally strongly recommend that you take note of Steve's health warnings regarding Auto trading EA's

I got involved in this because I'm interested in Murrey Math lines as a support resistance indicator for lots of different trading systems and happened to be working on an improvement to the lines indicator which has been available elsewhere on FF.

This post explains where I'm coming from in that respect.
http://www.forexfactory.com/showthre...62#post4766462
and http://www.forexfactory.com/showthre...76#post4768676

The end result is a new Murrey indicator which doesn't redraw as frequently as the original and also displays how the lines would appear in the past.

I have since worked this indicator into Steves pippo EA.

I cannot yet advocate pippo for live trading just yet for the following reason(s)

1) Pippo is vulnerable to protracted trending moves which can quickly produce big drawdowns. There is a hedging option in there but this has problems of it's own particularly if the price chops afer the hedge is placed.

To Install:
Place the Pippo.mq4 in the "experts" folder of your metatrader installation

Restart Metatrader

One final note. As a programmer, I'm a tinkerer/optimiser/bugfixer. I'm crap at creating from scratch so I'm completely in Steve's debt for the EA code base he has selflessly contributed here.