Generally the markets are in such a trending part that it’s not possible to not discover and it is sufficient to merely purchase with the development.
As an assistant software, I take advantage of the Purchase by Pattern utility.
1) So, we scroll by means of the charts of various devices, and see a very good entry level, so let’s specify the specified value for the primary order within the Price_for_First_Order parameter and the route within the Trend_Direction parameter, that is already sufficient for a very good deal. (If Price_for_First_Order=0, the place will open instantly on the market value.)
2) The Price_for_TakeProfit parameter specifies the worth at which all positions shall be closed. When you have entered a long-term development that lasts for weeks, then you’ll be able to take your time and edit this parameter within the utility settings one other time.
3) An extended-term development implies large targets, so it is applicable to extend positions as the worth 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 means of the ATR indicator.
4) It’s potential to restrict losses within the Price_for_StopLoss parameter in case of an unsuccessful development forecast.
5) For those who want extra management for positions, I like to recommend utilizing this product: Shut by proportion.
I submit 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 route of trades (Bullish or Bearish).
- Price_for_First_Order – the sector for the worth of the primary order, whether it is 0, then a place shall be opened instantly on the present market value, 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 worth 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; development – on development (pending Cease orders), rollback – on rollbacks (pending Limits orders), trend_and_rollback – on development and on rollbacks.
- special_for_rollback – specification of the scheme for opening extra orders on rollbacks; rollback_in_negative_zone – solely under the worth of the primary order (for BUY, for SELL quite the opposite – above the worth of the primary order), rollback_in_positive_zone – solely above the worth of the primary order (for BUY, for SELL quite the opposite – under the worth 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 response to the development.
- multiplier_for_ATR_of_rollback – ATR worth multiplier for the step of extra orders on rollbacks.
- Price_for_TakeProfit – TakeProfit value (for all orders and positions).
- if_negative_then_TP_to_FirstPrice – place TakeProfit on the value of the primary order if an extra order is triggered within the unfavourable zone (for BUY – under the worth of the primary order, for SELL – above the worth of the primary order).
- Price_for_StopLoss – StopLoss value (for all orders and positions).
- Shift_SL_at_opening_prices – transfer StopLoss as the worth strikes alongside the development.
- Maximum_number_of_positions – the variety of open positions at which the inserting of latest pending orders stops.
