Pattern Trader MT5 - Settings

Pattern Trader MT5 - Settings

16 September 2022, 18:34
Edgar Elsner
0
163

Features:

Information-Panel:

GMT-Time, Magic Number, Margin Risk, Free Margin, Lot-Size Range, Open Orders,

Daily-/Account-Profit

Button-Panel (moves with chart size changes):

‘EA On/Off’, Buy/Sell On/Off, Order-Alert* On/Off, Information-Panel On/Off

*Stop order price distance alert adjustable in points to announce a possible market entry is nearby.

Money Management:

Trade-Risk % on free margin, Account-Risk % limit, maximum Lot-Size limit,

Fixed Lot mode trade protection On/Off, Risk on Margin, Balance or Equity selectable

Profit Management:

Breakeven Stop: Activation profit level and stop  profit

Trailing Stop: Intelligent trailing algorithm, min.%/max.% independently of each other adjustable

Trading Time:

December Cut Day On/Off

Monday Trade On/Off

Friday Stop-Orders Delete Hour 

 

[_______________ OPENING & CAPITAL-RISK PARAMETERS _______________]

Description

Value(s)

Comment

Magic Number

0 - …

Distinguish between other orders of other EA(s) on the terminal. The EA handles only orders with this number

Show Info-Panel

true/false

Displays Info-Panel on startup. The Button-Panel is displayed by default

Account Amount Mode

Margin/Balance/Equity

Select desired mode

Account Min. Free Balance (0=disabled)

0 - …

Minimum free balance left in case of account’s total drawdown

Acc. Risk%/Trade (0=disabled

0 - …

Activates order line(s) trading if it becomes touched by the price

Lotsize Min. (if Risk%/Trade > 0)

0.01 - …

If risk = 0, Lotsize is taken as fixed lot

LotSize Max. (if Risk%/Trade > 0)

0.01 - …

If risk > 0, Lotsize is taken as maximum, regardless the increased balance. It reduces the percentual risk per trade, especially useful if the account starts with small balance and high risk level for faster growing but more security for the profits

Fixed Lot Mode Trade Protection

true/false

If fixed lot is selected (risk=0), the system checks if the current tradable pattern’s stop loss does potentially exceed the available amount in worst case. If yes, the pattern become rejected

Max. Spread

0 - …

Maximum spread allowed to open orders

Working Timeframe

M1 – MN1

Current selected Timeframe

Order Comment

<text>

Fills the orders comment fielt

 

[_______________ TRADING PARAMETERS (POINTS) _______________]

Buy StopLoss Deviation

-x…+x

Can be used to extend/reduce the stop loss, generated by the pattern

Sell StopLoss Deviation

-x…+x

Can be used to extend/reduce the stop loss, generated by the pattern

Buy Entry Deviation

-x…+x

Can be used to extend/reduce the Buy order entry point, generated by the pattern

Sell Entry Deviation

-x…+x

Can be used to extend/reduce the Sell order entry point, generated by the pattern

Operate Buy Trades

<true/false>

Enables/disables Buy orders

Operate Sell Trades

<true/false>

Enables/disables Sell orders

Profit Break Even Activation

0 - …

Profit, when activation value is exceeded

Profit Break Even Stop

0 - …

Profit stop, if retreats from activation profit  

Profit Trail Activation

0 - …

If break even profit is enabled, value has to be set to higher value than B/E profit

Min. Profit(%) saved @Trail Activation

 

Start % of profit saved at trail activation

Max. Profit(%) saved to current price

 

Maximum % distance to be saved. The lesser the earlier the profit become taken

Display Info-Panel

<true/false>

If disabled, the Button-Panel become displayed by default. Therefore the Info-Panel can later be activated by the referring Button-Key

Stop Order Alarm

<true/false>

If stop orders open on the chart and the price is exceeding the value of points set below, an alert alarms

Stop Order Alarm Distance

0 - …

Value if the alert alarms

Monday Trading

<true/false>

By default set to disabled because most faulty pattern occurring on Mondays, as the market liquidity is partly thin  

Friday Stop-Orders Delete hour (0 = disabled)

0 - 23

Used to prevent holding stop orders over the weekend as the Monday morning opening prices might differ significantly

December Trading Cut-Day (0 = disabled)

0 … 31

Used to prevent holding or opening stop orders and positions over Christmas time as opening prices of the new year might differ significantly

 

 

 

 

 

 

 

 

 

 

 

 


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