Initially, this EA alerts (if possibility checked) when an emblem enters into a variety section. Then, it would anticipate breakout of the vary (with extra filters if wanted) to ship an alert and/or to open an order. The principle benefit of this EA is that it lets you customise the specs of your vary.
To do that, you outline the three following parameters:
- ‘Timeframe for bars calculation‘: the min vary size can be calculated on this Timeframe.
- ‘Min vary size in bars‘: the value should not go outdoors the vary throughout this minimal of bars.
- ‘Max vary dimension in pips‘: the value should transfer inside this value vary.
You too can outline the breakout distance by giving a worth to the ‘Min distance breakout in pips‘ parameter: a breakout happens when the value crosses a minimal distance from the vary.
The 4 parameters talked about above seem in blue within the graph beneath:
Then, the opposite benefits of this EA are:
- It could robotically place Cease Loss on the opposite aspect of the vary when an order is opened.
- It consists of extra filters (shifting common, Pivot Factors, different filters may be applied on demand).
- It has a whole administration of orders (break even, trailing cease, closing earlier than weekend, max misplaced/day …).
- It could work with all market watch symbols directly.
-====Normal settings====-
Symbols: symbols for alerts & buying and selling (all or image on the chart)
There are a number of prospects to decide on which symbols ought to be scanned:
– ‘Solely image on the chart’ : it is best to use this selection for backtests or if you wish to apply the bot on the chart image ;
– ‘All main foreign exchange pairs’ : the bot will scan all 28 main foreign exchange pairs (EUR/USD/GBP/CHF/AUD/NZD/JPY) ;
– ‘Market watch’ : the bot will scan all market watch symbols ;
– ‘Solely symbols listed beneath’ : solely symbols listed within the subject beneath can be scanned
Symbols to scan or exclude: write right here symbols to scan (‘Solely symbols listed beneath’ mode) or to exclude (‘All main foreign exchange pairs’ and ‘Market watch’ mode)
Dealer prefix (if crucial): just for brokers who use prefixes. For instance, kind m for mEURUSD
Dealer suffix (if crucial): just for brokers who use prefixes. For instance, kind m for EURUSDm
If a number of symbols should be entered on this subject, they should be separated by commas
Use Timer: outline buying and selling days and hours
Monday: alerts & buying and selling on Mondays
Tuesday: alerts & buying and selling on Tuesdays
Wednesday: alerts & buying and selling on Wednesdays
Thursday: alerts & buying and selling on Thursdays
Friday: alerts & buying and selling on Fridays
Saturday (crypto): alerts & buying and selling on Saturday (usually for crypto buying and selling)
Sunday (crypto): alerts & buying and selling on Sunday (usually for crypto buying and selling)
Begin time: begin of the session
Finish time: finish of the session
Indicators alerts: terminal and/or smartphone notifs
Sends an alert when a variety is detected.
Buying and selling alerts: terminal and/or smartphone notifs
Sends an alert when a variety break is detected.
-====Vary settings====-
Timeframe for bars calculation: all MT4 timeframes
Used for ‘Min vary size in bars’: the variety of bars can be calculated on this timeframe.
Min vary size in bars: min variety of bars to validate the vary
If the value stays inside the vary dimension (in pips) for x bars or extra, the vary is validated.
Max vary dimension in pips: (Max value – Min value) should be <= Max vary (throughout min vary size)
… or in factors … (relying on the image).
Min distance breakout in pips: the breakout is validated when the value goes out of the vary and reaches a minimal distance
-====Filters settings====-
-=Transferring common settings=-
Use a MA: checks if value is above (purchase sign) or beneath (promote sign) this MA
Ma timeframe: all MT4 timeframes
Ma interval: interval of the MA
Ma technique: SMA / EMA / SMMA / LWMA
Ma utilized value: CLOSE / OPEN / HIGH / LOW / MEDIAN / TYPICAL / WEIGHTED
Ma shift: shift of the MA
-=Pivot factors settings=-
Day by day PP: checks if value is above (purchase sign) or beneath (promote sign) day by day PP
Weekly PP: checks if value is above (purchase sign) or beneath (promote sign) weekly PP
Month-to-month PP: checks if value is above (purchase sign) or beneath (promote sign) month-to-month PP
Observe: the extra filters applied, the less orders can be opened. For those who discover that there aren’t sufficient open orders, attempt disabling some filters.
-====Buying and selling settings====-
Permit buying and selling: if false, solely alerts are operational
Magic quantity: should be distinctive if different EA are working
‘Max open orders’, ‘Max % misplaced / day’ and ‘Max % win/day’ are calculated from the magic quantity. For instance, when you have 3 EAs with the identical magic quantity, the overall variety of orders opened would be the sum of the orders opened in these 3 EAs.
Max open orders: max variety of orders opened concurrently (if 0, no max)
Max % misplaced/day: if max worth is reached, the EA open orders are closed and no different order is opened till the following day (if 0, no max)
The calculation relies on account steadiness + open orders advantages. As a way to pace up the backtests, the calculation is completed each hour throughout backtests, as a substitute of each minute for an actual buying and selling session.
Max % win/day: if max worth is reached, the EA open orders are closed and no different order is opened till the following day (if 0, no max)
Similar comment than for ‘Max % misplaced/day’.
Shut earlier than weekend: shut all EA orders on Friday
Shut time earlier than weekend: if ‘Shut earlier than weekend’ is ‘true’
Use cash administration: if ‘true’, lot dimension in % steadiness
Lot dimension in %: % steadiness per order (if ‘Use cash administration’ is ‘true’)
Mounted tons dimension: lot dimension per order (if ‘Use cash administration’ is ‘false’)
Max unfold: max allowed unfold to open an order (if 0, no max unfold)
Warning: if the worth of the unfold is just too low, no order can be opened! To keep away from any drawback, it is strongly recommended to set the worth ‘0’ for the backtests.
Max slippage: max allowed slippage to open an order
Similar comment as ‘Max unfold’.
Place SL above/beneath vary: If ‘purchase order’, SL is positioned beneath vary; if ‘promote order’, SL is positioned above vary
A number of of SL for take revenue: cease loss distance is multiplicated by x for take revenue distance (if ‘Place SL above/beneath vary’ is ‘true’)
SL: cease loss in pips (if ‘Place SL above/beneath vary’ is ‘false’)
TP: take revenue in pips (if ‘Place SL above/beneath vary’ is ‘false’)
Break even: if ‘true’, break even is activated
Break even revenue: triggers the break even from a sure revenue in pips
Trailing cease: if ‘true’, trailing cease is activated
Path revenue: triggers the trailing cease from a sure revenue in pips
Path distance: distance in pips between trailing cease and value
Path step: step in pips for the trailing cease
Open extra orders: a further order is opened every time the revenue reaches a step
Max extra orders (by image) : ‘Open extra orders’ should be ‘true’
Lot dimension of extra orders: it’s higher to have smaller tons than for essential orders
Revenue step in pips to open a further order: every time the revenue reaches this step, a brand new order is opened
SL of extra orders: SL in pips of the extra orders
TP of extra orders: TP in pips of the extra orders
- Earlier than utilizing the ‘All main foreign exchange pairs’ mode, confirm that the 28 main foreign money pairs are current within the “Market Watch” tab of MT4.
- It is strongly recommended to make use of multi-symbol mode for alerts solely. When a worthwhile technique is discovered on an emblem, it’s higher to use it in ‘only_symbol_on_the_chart’ mode.
Main foreign exchange pairs :
EURUSD / GBPUSD / USDCHF / AUDUSD / USDCAD / USDJPY / NZDUSD
EURGBP / EURCHF / EURAUD / EURCAD / EURJPY / EURNZD
GBPCHF / GBPAUD / GBPCAD / GBPJPY / GBPNZD
AUDCHF / CADCHF / CHFJPY / NZDCHF
AUDCAD / AUDJPY / AUDNZD
CADJPY / NZDCAD
NZDJPY
