Generally the markets are in such a trending part that it’s unattainable to not discover and it is sufficient to merely purchase with the pattern.
As an assistant device, I take advantage of the Purchase by Development utility.
1) So, we scroll by the charts of various devices, and see a superb entry level, so let’s specify the specified worth for the primary order within the Price_for_First_Order parameter and the course within the Trend_Direction parameter, that is already sufficient for a superb deal. (If Price_for_First_Order=0, the place will open instantly on the market worth.)
2) The Price_for_TakeProfit parameter specifies the value at which all positions shall be closed. When you’ve got entered a long-term pattern that lasts for weeks, then you possibly can take your time and edit this parameter within the utility settings one other time.
3) An extended-term pattern implies massive objectives, so it is acceptable to extend positions as the value rises or rollbacks. That is set within the Scheme_for_Opening_New_Orders parameter, and there’s no have to calculate the distances in factors for every character individually, simply take the common values by the ATR indicator.
4) It’s doable to restrict losses within the Price_for_StopLoss parameter in case of an unsuccessful pattern forecast.
5) If you happen to want extra management for positions, I like to recommend utilizing this product: Shut by proportion.
I publish my trades on this channel: Tendencies and Ranges.
Chat dialogue: Age of Skilled Advisors.
Detailed description of parameters
- Magic_for_orders – the magic quantity for trades (the utility works with trades of its personal magic quantity and chart image).
- Comment_for_orders – the remark quantity for trades.
- Trend_Direction – choose the course of trades (Bullish or Bearish).
- Price_for_First_Order – the sphere for the value of the primary order, whether it is 0, then a place shall be opened instantly on the present market worth, in any other case a pending order shall be positioned.
- Single_opening_First_Order – if true, the primary commerce shall be executed as soon as; if false, after closing trades and returning to the value of the primary order, buying and selling will resume once more.
- Lot_size – the buying and selling lot dimension for orders.
- Scheme_for_Opening_New_Orders – the scheme of opening extra orders; pattern – on pattern (pending Cease orders), rollback – on rollbacks (pending Limits orders), trend_and_rollback – on pattern and on rollbacks.
- special_for_rollback – specification of the scheme for opening extra orders on rollbacks; rollback_in_negative_zone – solely under the value of the primary order (for BUY, for SELL quite the opposite – above the value of the primary order), rollback_in_positive_zone – solely above the value of the primary order (for BUY, for SELL quite the opposite – under the value of the primary order), rollback_in_negative_and_positive – bear in mind all rollbacks.
- TimeFrame_for_ATR – ATR indicator timeframe for calculating the step of extra orders.
- Period_for_ATR – ATR indicator interval for calculating the step of extra orders.
- multiplier_for_ATR_of_trend – ATR worth multiplier for the step of extra orders in accordance with the pattern.
- multiplier_for_ATR_of_rollback – ATR worth multiplier for the step of extra orders on rollbacks.
- Price_for_TakeProfit – TakeProfit worth (for all orders and positions).
- if_negative_then_TP_to_FirstPrice – place TakeProfit on the worth of the primary order if a further order is triggered within the unfavourable zone (for BUY – under the value of the primary order, for SELL – above the value of the primary order).
- Price_for_StopLoss – StopLoss worth (for all orders and positions).
- Shift_SL_at_opening_prices – transfer StopLoss as the value strikes alongside the pattern.
- Maximum_number_of_positions – the variety of open positions at which the putting of recent pending orders stops.
