Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
Range breakout EA with a multitude of management functions to maximise profits.
Key Features:
- Asset: Can be deployed on Currency Pairs and Gold. Specifically built for USDJPY, default settings are for that pair.
- Prop Firm ready: Ideal for prop firm trading.
- Compounding Returns: Scale your account with Automatic compounding.
- Memory Executed: Trades are deployed and managed in memory instead of Stop/Limit Orders & Modify. Allowing for greater control of entries and trailing.
- Recommended Start Capital: $1,000 on 30x Leverage brokers. $500 on 100x Leverage brokers.
- Strategy: Breakout strategy in one or both directions of any specified range with full control of trade functions.
- Trade Times: Default from Sydney Open to Start of London Pre-Market breakout range - can be set to any specified ranges.
Notes: Back testing results performed on Spread account on IcMarkets broker at x 30 leverage for USDJPY.
About me: I have almost 20 Years programming experience, starting in 2006 with PHP and 6 years experience in financial markets with different strategies deployed via EAs. Any question don't hesitate to DM me. My time zone is UTC+10 - I will respond as soon as possible.
| VARIABLE | VALUE | DESCRIPTION |
|---|---|---|
| Variation in Points from initial entry | 400.00 | Difference in price when attempting to place a trade from a specific Range level. Can be used to protect from extreme volatility spikes/rejections. The default value has 400 points. |
| Use Hedging | true | Use hedging of opposing ranges. false will only take one side of the range. |
| Fixed lot size | 0.04 | Fixed lot size amount used with “Fixed lot size” option in Lot size management |
| Asset ExRate | 0 | Exrate is derived from cross pair analysis eg, EURAUD will get ex rate from AUDEUR. If the broker doesnt have that symbol see manual for link to pine script (trading view) indicator to get Exrate. Used with % & $ lot size calculation options |
| Suffix for Broker ExRate Symbol eg .a (USDJPY.a) | | If broker has a specific suffix with assets add here. Used with % & $ lot size calculation options. |
| Lot Size Management | Medium risk compounding | Lot size management has following options:
All compounding options automatically scale lot sizes up/down depending on available margin. |
| Risk % (Floating Lot) (Compounding) | 1 | Custom % risk per trade of available Margin. Default is 1% |
| Risk in $ per trade (Floating Lot) | 10 | Custom $ risk per trade. Default is $10 |
| SL Management | Opposing Range | Where EA will place the SL:
|
| Custom Fixed SL (Points) | 30 | Used with Custom Fixed SL Option |
| SL in % of current price (used with % of Price) | 1 | Dynamic SL based on % of current price. |
| Start Range Time (HH:MM:SS) | 00:00:00 | Start of Range time |
| End Range Time (HH:MM:SS) | 06:00:00 | End of Range time |
| Close Trades/Orders by (HH:MM:SS) | 18:00:00 | Time to close trades. Trailing closure options. will trail instead of closing at close time |
| Min. Range size % of current price | 0 | Minimum size of range in % of price (Default is 0% - no limits) |
| Max. Range size % of current price | 100 | Maximum size of range in % of price (Default is 100% - no limits) |
| Close by Management | Close time | Determines how to manage each trade with the following options:
|
| Use Break Even | true | Break Even at specified R:R amount. |
| Break Even R:R X | 4 | Risk to Reward amount before EA will Break Even of trade. |
| R:R X to ignore Hedging (0=keep hedge) | 0 | RR amount. EA will remove Opposing hedge trade (if hasn't triggered already) once RR has been reached. |
| Trail Price Spikes | true | Use Trailing on price Spikes. |
| Min % to Engage price spikes | 1 | Engages trailing if asset price spikes anymore than specified %. |
| Trail Equity Spikes | true | Use Trailing on Equity spikes. Determines equity balance at start of each session. |
| Min % to Engage Equity spikes | 10 | Trails trade if equity increases by specified % amount during session. |
| Trail by RR or Points | Trail by Points |
|
| Trailing Start at R:R X | 5 | Trailing will engage at Reward level reached - Default 5 (1:5) |
| Trailing Steps at R:R X | 1 | Trailing will follow price by Custom R:R |
| Trailing Trigger Start (Points) | 1000 | Trailing will engage at specified Start points |
| Trailing Steps (Points) | 50 | Trailing will follow be specified Points |
| Comment to add to trades | [BOT] | Custom Comment to add to trades |
| Max. slippage points (Ctrade deviation) | 5 | Sets the allowed deviation for Instant execution broker accounts |
| Max spread points | 20 | Maximum spread points provided by broker |
| Magic | 111 | Unique EA identifier. If multiple EAs/Trades running on same account. TriGold will only interact with its own trades. |
