This blog posts is used to provide additional information about the product: CurrencyStrengthBB.
The EA is not yet published so don't bother reading further.
Custom weights for currency rating
You can also use customs weights for the currency strength calculation, for .
Just go to http://currencystrength.de/, insert the weights you want to use into the form and click on the "Data url" button to get the custom weights URL. To use these custom weights, just copy paste the URL into the EA parameter url.
All parameters are set in points, so they are dependent on whether you are using a 4 or 5 digit broker.
- magic - Magic number used for this strategy
- slippage = 13 - slippage
- maxSpread = 23 - Maximum spread to open and also maintain a position.
- stopLoss = 500 - Stop loss
- takeProfit = 250 - Take profit. Usually the strategy will close by trailing stop.
- trailingStart = 30 - Trailing stop will only trigger if the position is in profit this number of points.
- trailingStop = 10 - Trailing stop value
- trailingOpen = 17 - Open position are trailed with this value to get the best possible price.
- lotType = FIXED - Lot size can be either fixed or a percentage of the current balance.
- fixedLots = 0.1 - Lot size (only used if lotType = FIXED)
- percentage = 100 - Percentage lot size (only used if lotType = PERCENTAGE). Example: Balance = 5000 and percentage = 100, will use a lot size of 0.05.
- averagingMultiplier = 1.57 - Multiplier used for averaging positions.
- averagingMinDistance = 50 - Minimum distance between averaging positions.
- averagingMaxPositions = 3 - Maximum number of averaging positions.
- breakoutPeriod = 15 - Period used for breakout signal (similar to bollinger bands period, but a bit more complicated)
- breakoutScale = 1.0 - A high value means less trades as a bigger price movement is needed to trigger the strategy.
- checkRating = true - Whether the rating given on http://currencystrength.de/ should be checked.
- minRatingDifference = 5 - Minimum difference between strong and weak currencies.
- ma50minDistance = 500 - Minimum distance between the current price and the 50 day moving average (in counter direction to the rating difference).
- maxCurrencyUsage = 2 - Maximum usage of one currency (between 1 and 7). With this parameter the currency exposure can be controlled as the strategy will only open on maxCurrencyUsage different pairs of the same currency.
- url = "http://currencystrength.de/data/" - URL for currency strength rating
- symbols = "AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURGBP, EURCHF, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY" - List of symbols to use. you can either specify the complete symbol name with extension here or use symbolExtension.
- symbolExtension = ".lmx" - In case your broker has a special extension for symbol, for example .lmx for LMAX. Set this to empty if you already entered the extensions in symbols
- startHourGMT - Hour of day (GMT) to start the strategy
- endHourGMT - Hour of day (GMT) to end the strategy
- minTradeTimeDiff = 60 - Minimum time difference (in seconds) between two consecutive trades.
- updateSeconds = 2 - Interval to perform calculations. Should be small enough to efficiently trail open opsitions.