Interesting and informative post which includes sensible comments and good advice...
Hey all,
Just joined the forum for this thread
Without meaning to be rude by using my first post as a question, could someone please define for me the colours of the rainbow mma's as when i show all 11 of them in MT4, the colours are different than the examples here/intended colours.
Mine are,
rainbow 1: purple(medium orchid)
rainbow 2: purple(medium orchid)
rainbow 3: purple and red
rainbow 4: red
rainbow 5: red and lime lime
rainbow 6: lime
rainbow 7: lime and deep sky blue
rainbow 8: Deep sky blue
rainbow 9: Deep sky blue and gold
rainbow 10:gold
rainbow 11: gold
Many thanks to all for all the work...fantastic
Just joined the forum for this thread
Without meaning to be rude by using my first post as a question
, could someone please define for me the colours of the rainbow mma's as when i show all 11 of them in MT4, the colours are different than the examples here/intended colours. Mine are,
rainbow 1: purple(medium orchid)
rainbow 2: purple(medium orchid)
rainbow 3: purple and red
rainbow 4: red
rainbow 5: red and lime lime
rainbow 6: lime
rainbow 7: lime and deep sky blue
rainbow 8: Deep sky blue
rainbow 9: Deep sky blue and gold
rainbow 10:gold
rainbow 11: gold
Many thanks to all for all the work...fantastic
Just use template - link is in the first post
Hey all,
Just joined the forum for this thread
Without meaning to be rude by using my first post as a question
Mine are,
rainbow 1: purple(medium orchid)
rainbow 2: purple(medium orchid)
rainbow 3: purple and red
rainbow 4: red
rainbow 5: red and lime lime
rainbow 6: lime
rainbow 7: lime and deep sky blue
rainbow 8: Deep sky blue
rainbow 9: Deep sky blue and gold
rainbow 10:gold
rainbow 11: gold
Many thanks to all for all the work...fantastic
Welcome vongkasem,
well done on reading the whole thread. You're now 2 steps ahead of those who may not have had the chance to read from beginning to the end.
Thanks for the paltalk room, its very kind of you, I will join you soon when my PC resources can be better as its getting slow with all my platforms etc.
I hope that if you've not traded the system before that you really do some demo trading with it just for a few weeks to get the hang of it and get used to it It'll help you to minimize your losses.
My results the EA gave today...
UsdChf Short +134.22 - 0.5lots
EurJpy Long -400.60 - 1.0lot
UsdChf Short +199.12
Anybody else able to share their results for today? Im using Period 8 for the Adx setting instead of the standard 14.
well done on reading the whole thread. You're now 2 steps ahead of those who may not have had the chance to read from beginning to the end.
Thanks for the paltalk room, its very kind of you, I will join you soon when my PC resources can be better as its getting slow with all my platforms etc.
I hope that if you've not traded the system before that you really do some demo trading with it just for a few weeks to get the hang of it and get used to it
It'll help you to minimize your losses.My results the EA gave today...
UsdChf Short +134.22 - 0.5lots
EurJpy Long -400.60 - 1.0lot
UsdChf Short +199.12
Anybody else able to share their results for today? Im using Period 8 for the Adx setting instead of the standard 14.
First let me explain the lot size calculation.
TOtal Lot size = 0.01 X iTradeFactor X noOfSmallLot.
so if you want to open 4 lot each of 10,000 standard lot/ 1000 mini lot.
iTradeFactor = 0.01 X 100 X 4.
where iTradeFactor = 100
noOfSmallLot = 4
Now about iTPIncrement.
If your noOfSmallLot is more than 1 then iTPIncrement play a significant role to close some of the lot early and take incremental profit and also moving your stop loss to BE.
so e.g. - iTPIncrement = 40, noOfSmallLot=4, iTradeFactor=100
You went long a lets say 201.00..
At price 201.40, your first lot will be closed and s/l will move to BE.
at price 201.80 your second lot will be closed.
at price 202.20 your third lot will be closed.
Fourth lot will run forever, until you closed it manually or it gets the opposite signal.
Now there is one more good feature in this EA called - Pipstrail, It is bit similar to trail stop not completely.. so read it carefully.
so e.g. - iTPIncrement = 40, noOfSmallLot=4, iTradeFactor=100 pipstrail=35
You went long a lets say 201.00..
At price 201.40, your first lot will be closed and s/l will move to BE.
at price 201.80 your second lot will be closed. ( If your profit between 50 to 100 pips) the s/l will be BE.
at price 202.20 your third lot will be closed. ( If your profit between 100to 150pips) the s/l will be openprice + 35 ( pipstrail).
Fourth lot will run forever, until you closed it manually or it gets the opposite signal.
if your profit between 150 to 200 pips then s/l will be
openprice + 2 *pipstrail = 70
from 200 to 250
s/l will be openprice+ 3 * pipstrail..
thats it .. so now you have ea and the rules.. have fun and play
TOtal Lot size = 0.01 X iTradeFactor X noOfSmallLot.
so if you want to open 4 lot each of 10,000 standard lot/ 1000 mini lot.
iTradeFactor = 0.01 X 100 X 4.
where iTradeFactor = 100
noOfSmallLot = 4
Now about iTPIncrement.
If your noOfSmallLot is more than 1 then iTPIncrement play a significant role to close some of the lot early and take incremental profit and also moving your stop loss to BE.
so e.g. - iTPIncrement = 40, noOfSmallLot=4, iTradeFactor=100
You went long a lets say 201.00..
At price 201.40, your first lot will be closed and s/l will move to BE.
at price 201.80 your second lot will be closed.
at price 202.20 your third lot will be closed.
Fourth lot will run forever, until you closed it manually or it gets the opposite signal.
Now there is one more good feature in this EA called - Pipstrail, It is bit similar to trail stop not completely.. so read it carefully.
so e.g. - iTPIncrement = 40, noOfSmallLot=4, iTradeFactor=100 pipstrail=35
You went long a lets say 201.00..
At price 201.40, your first lot will be closed and s/l will move to BE.
at price 201.80 your second lot will be closed. ( If your profit between 50 to 100 pips) the s/l will be BE.
at price 202.20 your third lot will be closed. ( If your profit between 100to 150pips) the s/l will be openprice + 35 ( pipstrail).
Fourth lot will run forever, until you closed it manually or it gets the opposite signal.
if your profit between 150 to 200 pips then s/l will be
openprice + 2 *pipstrail = 70
from 200 to 250
s/l will be openprice+ 3 * pipstrail..
thats it .. so now you have ea and the rules.. have fun and play
hi scrycraper,
thanks skyscraper for your EA
when you (or someone who understand the parameters of the EA) will have time, is it possible to have comments inside the EA ?
I read your posts in this thread
I am not sure I understand
for example, if I want to trade 4 lots (each of 25 000, do I have to set this somewhere in MT4)
with initial stop loss = 70
and I want 4 target profits,
1st tp at 20 (new sl =BE, when profit > 34, sl=BE+20)
2nd tp at 40
3rd tp at 60 (when profit > 69, sl=BE+40)
last tp at 150
is it correct to set the parameters like that (with EA v1.2) ?
extern int iStopLoss = 70;
extern int iTPIncrement = 20;
extern int iTradeFactor = 35; //1 = .05/.01, 10 = 0.5/0.1, 100 = 5.0/1.0, 1000 = 50/10
extern int PipsTrail = 20;
extern int Magic = 13001;
extern int MaxTrades = 0;
extern int noOfSmallLot=4; // = nb of exits, first at iTPIncrement, 2nd at 2xiTPincrement, etc
extern int TakeProfit=150; // target profit for last small lot
thanks a lot
