Electra EA ** Released to Elite Members ** - page 70
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Hi All, I'm planning to test the Electra EA out... but there are so many versions!
First of all on what timeframe can one submit the EA on? 1HR, 4HR, DAILY TF??
I decided to download the Electra V1.18 nmc and the Electra V1.17 nmc and downloaded also AbsoluteStrengthforEA.mq4 indicator (that's all I need I suppose??) to get started. Could somebody tell me what the difference is between the Electra V1.18 nmc and Electra V1.17 nmc?
Also I got the settings from this post: https://www.mql5.com/en/forum/178196/page33 Are these the correct settings?
Thanks in advance,
FredFred
Yes. AbsoluteStrengthForEA is the only custom indicator needed for it
Settings that are you referring too are OK but test it before using - volatility in the time when those parameters were used, was much higher than these days
Time frame used for Electra at RAS for forward testing was 1 hour (for a basket of 19 pairs) and it was the time frame that showed stablest results
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But pleas red the explanations about account protection (when multiple symbols are traded with same magic number. You might find it interesting
Hello Mladen, What starting bankroll does one need for using micro lotsize with this EA?
Hello Mladen, What starting bankroll does one need for using micro lotsize with this EA?
According to project1972 (who invented that way of MM) for a micro account it would be $250 (he explained his logic and conditions for a 0.5% risk at this post : https://www.mql5.com/en/forum/179276)
Money management of Electra has not been altered significantly, so I think that his recommendation should be considered as a valid even today
Hi Mladen,
You mentioned that you rather use settings that correspond to the market conditions now… Do you mean that you use e.g. 1,4,1.5 for more volatile currency pairs then like the JPY pairs?
Do you look what the volatility is on a week basis or rather on a monthly basis to decide which settings you are using?
Thanks in advance,
Fred
Hi Mladen,
You mentioned that you rather use settings that correspond to the market conditions now… Do you mean that you use e.g. 1,4,1.5 for more volatile currency pairs then like the JPY pairs?
Do you look what the volatility is on a week basis or rather on a monthly basis to decide which settings you are using?
Thanks in advance,
FredFred
When I tell volatility I usually think of the daily range that we can expect. Those rangers have lessened very much. The thing that should be adjusted a bit (even though the average atr used for stop loss and take profit is saving as from a lot of math, I think that it should be lessened a bit in these periods - hard to expect targets that we were used to those couple of years ago)
Electra version 1.15 updated for new metatrader 4 : electra_v1.15_nmc.mq4
Electra version 1.15 "no symbol" updated to be new metatrader 4 compatible : electra_v1.15_no_symbol_nmc.mq4
Hi, Elektra is a good EA but I don't like the way it could trade on Friday (less volatility) and Sundayevening (gaps).. could you therefore set an disable function on Friday and Sunday? Is that possible? https://c.mql5.com/forextsd/forum/128/electra_v1.18_nmc.mq4
GReetings,
Forexblasters
Hi, Elektra is a good EA but I don't like the way it could trade on Friday (less volatility) and Sundayevening (gaps).. could you therefore set an disable function on Friday and Sunday? Is that possible? https://c.mql5.com/forextsd/forum/128/electra_v1.18_nmc.mq4
GReetings,
ForexblastersComplete Friday (I assume that the couple of hours on Sunday mean complete Sunday)?
Hi, Elektra is a good EA but I don't like the way it could trade on Friday (less volatility) and Sundayevening (gaps).. could you therefore set an disable function on Friday and Sunday? Is that possible? https://c.mql5.com/forextsd/forum/128/electra_v1.18_nmc.mq4
GReetings,
ForexblastersComplete Friday (I assume that the couple of hours on Sunday mean complete Sunday)?