BRiCK MT4 EA user manual
*BRiCK MT4 EA is currently under development. Release planned for late July.
→ Now on sale! (2018.07.05)
1.1. Analysis target
1.2. Signal type
1.3. Specification of order
2. Execution procedure
2.1. [Step1] Insert technical indicators
2.2. [Step2] Insert BRiCK
2.3. [Step3] Wait for signal appearance
BRiCK MT4 EA: https://www.mql5.com/en/market/product/29574
BRiCK MT4 CI: https://www.mql5.com/en/market/product/29575
Verification by Tester: https://www.mql5.com/en/blogs/post/718810
This section explains the specification of BRiCK.
Analyze against the current Symbol of the chart with BRiCK inserted. Analyze with EURUSD when inserted in the EURUSD chart, USD JPY if inserted in the USDJPY.
Analyze against the current Timeframe of the chart with BRiCK inserted. When Timeframe is changed, the signal is initialized.
Analyze based on the previous bar in the current bar. Since it is not analysis in the current bar, the signal does not disappear with price change.
- Technical Indicator
All technical indicators inserted on the chart are subject to analysis.
Please see here for the technical indicators used by BRiCK.
- Individual signal
This is the signal output by the technical indicators inserted on the chart.
After appearance it will be deleted when it is out of PermitBars range or signal initialization.
: Individual signal BUY.: Individual signal SELL.
- Integrate signal
This is the signal output by BRiCK inserted on the chart, applicable to the order signal.
After appearance it is not deleted except signal initialization.
: Integrate signal BUY. When individual signal BUY appears for all the inserted technical indicators.
: Integrate signal SELL. When individual signal SELL appears for all the inserted technical indicators.
1.3. Specification of order
- Order entry
Trigger of order entry is the appeared of integrated signal. All entry orders are executed immediately at market price. Also, if there is a position acquired by BRiCK, the behavior may change.
[When integrated signal BUY appeared]
[When integrated signal SELL appeared]
Position status Action No position Entry at BUY position BUY position exist Do nothing SELL position exist Exit SELL position and entry at BUY position Position status Action No position Entry at SELL position BUY position exist Exit BUY position and entry at SELL position SELL position exist Do nothing
- Order exit
There are two types of triggers for exit. The first is due to reverse signal appearance, and the second is due to Limit & Stop level set by parameter.
If you have a BUY position, treat the integrate SELL signal appeared as an exit.
If you have a SELL position, treat the integrate BUY signal appeared as an exit.
[Limit & Stop level]
After position take with Market Execution, execute Modify Order to Profit level and Loss level based on the acquisition price. If 0 is input as a parameter of Profit or Loss, Modify Order will not be executed and it will end with a reverse signal.
[Step3] Wait for signal appearance
Open the Navigator (Ctrl + N) and select the technical indicator you want to analyze, insert it on the chart, and setting the parameters. Any number of indicators in the red frame can be used.
Please see here for parameters of customizable indicator.
After inserting the indicator and input the parameters, if you save the chart as a template, setting will be easier from next time.
Insert BRiCK on chart, and setting parameter. For details of the parameters, please see 3.Parameter.
Wait until the integrate signal appears. There are two ways to judge a signal.
- Judgment by arrow object
When a signal appears on all the indicators inserted on the chart, the arrow object of integrate signal is output one before the current bar.
- Judgment by comment
The information of the current individual signal and the integrated signal is displayed as a comment in the upper left of the chart. The characters on the first and second lines are how many SELL and BUY individual signals are appearing and are represented by "Number of individual signals that are currently appearing / Number of inserted technical indicators". The characters in the fourth line are what kind of integrate signal is currently appearing.
This is a parameter related to signal output.
|PermitBars||Unsigned integer|| Effective range of Individual signal.|
|Sound||Enumeration||Play sound when integrate signal appear.|
- What is PermitBars?
The parameters of BRiCK include "PermitBars" that takes into consideration the signal appearance delay of each technical indicators. As an example of the image below, if PermitBars is 1, only SELL individual signals will appear, but if you set to 3, individual signals of BUY will appear in addition to the individual signals of SELL. Increasing PermitBars is expected to increase the frequency of integrated signal appearance, but too large will reduce the authenticity of the signal.
|Lot||Double||Input the order size that can be ordered with surplus funds. If input 0, Order will not be executed.|
|Slippage||Unsigned integer||Order deviation. Units are pips.|
|Profit||Unsigned integer||Set a level for take profit based on the acquisition price. If input 0, Modify Order will not be executed for take profit.|
|Loss||Unsigned integer||Set a level for stop loss based on the acquisition price. If input 0, Modify Order will not be executed for stop loss.|
It is a parameter to use when verifying with the strategy tester, it is not used when executing in real time.
Please see here for the verification by the tester.