New EA based on the !xMeter - page 53
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!xMeter v.2.2.2 FP
Hello everyone,
Here's a new version of the EA. It provides the following:
- added option to limit to one recovery trade per periode, M1=1, M5=5, M15=15, M30=30, 60=H1, 240=H4, 1440=Daily, 10080=Weekly, 43200=Monthly
- added RevRecoverTrigger parameter: allow another recovery trade in same currency only if xMeter is higher as the RecoverTrigger
- added Slippage parameter: Slippage
- added MinCurrencyPairs parameter: minimum number of pairs a currency must occur in to be tradeable
- added Correlation parameter: correlation limit
- added Martingale parameter: multiplication coefficient of the martingale
- added MartingaleShield parameter: number of recovery trades before apply the martingale
- bug fixes related to zero divide problem
- removed useless and redundant old code of pair selection loop. (manual selection of pairs can be made directly in the Market Watch)
This version is fully functional, I use it live.
Thank you for sharing your work fullpips.
The EA is blocked untill approval right now so maybe it will get clear once I have the EA in hands, but can you explain this part:
- added RevRecoverTrigger parameter: allow another recovery trade in same currency only if xMeter is higher as the RecoverTrigger
Has anyone got the latest indicator not the EA.
... can you explain this part: - added RevRecoverTrigger parameter: allow another recovery trade in same currency only if xMeter is higher as the RecoverTrigger
Hello Fate
This function reverses the logic of trading on recover trades.
It authorizes new recover trades only if the trend is in the direction of the original trade.
Put to Demo
I used the Xmeter some time back and over all it was pretty good. You would get the divide by zero error which would basically throw the whole system out of wack and all HE// would break loose. Still over all it was slightly profitable. These new changes sound very interesting and that this EA is once again headed the right direction. I'll put FPs updated version on my demo tonight and if after a week it seems to behave I'll move it to my penny demo account.
suggested set file
FP, do you have a suggested .set file for the updated version? This would at least get me started in the right direction.
Thx
ej5
Hello Fate
This function reverses the logic of trading on recover trades.
It authorizes new recover trades only if the trend is in the direction of the original trade.That idea is so simple and logical that you have to wonder why no one have thought of it before
Thanks, I'm going to put it on some testing machines to get a feel of how it works.
Is there any documentation available ?
As this EA is more complex then it looks at first hand I would like to get more understanding on how it trades and how the parameters would affect trades and profitability/risks.
Perhaps there is a post somewhere around but this thread has become quite long and changes have been made on a regular basis.
I have set up mine at a demo account (mini) $2.500 and risk 0.2 and margin max (25%) the rest is just default.
You can follow at !xmeter 2.2.2 FP System | Myfxbook
One comment at forehand.. The first few negative trades are manual closed trades in the process of updating.. so they are not the fault of the EA :-) !!!
A big thanks for FullPips and all others that have worked on this EA.
Perhaps a stupid question but nevermind then :-)
I notice that if I lower the risk to 0.05 (eg 5%) the min lot stays 0.10
The default min req seems to be around $5000 but what if I want 'just' 2500 or less..
setting the 1% on 2500 should set the lot size to 0.05 and 1000 to 0.01
Dear Michael,
I can tell you right away that your demo probably won't live long.
The risk is to high and the leverage to low (1:50).
You also allow it to keep placing new trades until 25% of its equity is used.
This ea is on a suicide mission
Lowering the risk should make the lots smaller, maybe your broker won't allow minilots?
For demo's you can use alpari.co.uk or instaforex.com, they both have 1:500 leverage if you're outside de US.
If you're dutch as I suspect, take a look at markets.com (1:200)