Project Phoenix manual

Project Phoenix manual

5 May 2022, 15:20
Yury Novikau
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Project Phoenix trading robot using in his work wave analysis and trading using the theory of wave movement of the market


Product description is available here - https://www.mql5.com/en/market/product/80168



Here is a more detailed analysis of the input parameters, which require explanation:

Your broker GMT, hour - shows your broker's GMT as a shift in hours from the server time, the time on broker's server from Greenwich Mean Time

In simple words you need your broker's server time and GMT time, and you need to find their difference in hours


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When a trading advisor is installed on a chart, it will wait. Depending on the availability of trading conditions, there may be no transactions from a few hours to a few days. This is responsible for

Start of trading within the current wave is an important parameter for the start of trading. Since the Expert Advisor trades in waves, it does not start trading from any place, but waits for the start of a new wave. However, this can take a long time, and when the user has installed the Expert Advisor and a new wave has already started, it will wait for its end before it starts trading. This setting allows the user to start trading immediately, within the current wave.

There is a choice of two options from the list:

Immediately - start trading immediately, within the current wave

Wait new wave - wait for a new wave to start trading

Please note that the most correct choice is to wait for a new wave, since there is a chance that you will launch the Expert Advisor immediately and you will be at the end of the wave, and if the limit order is triggered, it may close with a loss at the beginning of a new wave.

This parameter is only specified once. And it does not affect the work of the EA in the future. 

In the update 2.1 there will be an option of displaying the approximate date (projection) of the beginning of new waves will be available, so the user will have information about which of the parameters for trading within the waves to choose:

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The option works on real data. And it displays the approximate date of the three waves calculated by the extrapolator


Deviations, % - the parameter for adjusting deviations for setting limit orders from the current price, it is possible to set from 25 to 100 points (from 1 to 3%)

Risk, % - risk per order, if the Auto lot automatic calculation is enabled

Lot coefficient - coefficient for the lot calculation when the Auto lot is enabled (from 0 to 1)

formula for calculation of lots at automatic calculation:

Lot = 0.01 * Lot coefficient * Risk * AccountEquity / Margin

The Expert Advisor is not self-optimizing and requires re-optimization for forward trading. The extrapolator learns on new data approximately every 1 to 3 months. Take it into account when updating the Expert Advisor

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