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Cool EA MT4
Cool EA MT4 is a simple Expert Advisor based on Cool Indicator MT4 . The Indicator is incorporated in the EA, therefore, you don't need it as a separate tool for the EA to operate.
Cool Indicator MT4 is based on Williams' Percent Range (%R) and Average True Range (ATR) and can be dowloaded from my product page.
The Expert Advisor settings are as follows :
Magic number : ( set to 933278, is the unique number assigned to the trades placed by the Expert Advisor )
The parameters below can be set according to your trading rules.
- StopLoss : ( Stop Loss in pips )
- Take Profit : ( Take Profit in pips )
- TradeSize : 1.0
- MaxOpenTrades=1 ( Maximum open trades per currency pair)
- Hedging=true ( Hedging mode )
Some clarification to remember :
For 5-digit brokers : 1 Point=0.00001 and 1 Pip=0.0001 => 10 Points=1 Pip
For 4-digit brokers : 1 Point=0.0001 and 1 Pip=0.0001 => 1Points=1Pip
If your account type is Netting then set Hedging mode to false.