BrainTrading Semi-Manual EA for M30 timeframe system - page 3
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re indicator
Yes I found the same this indicator is downloaded with your info place in your expert/indicator file and place on chart
2 questions:
1. how is the Tp determined by the EA if TP=0?
2.When i open the template on the chart, there is no I-XO indicator as on your screens. (no i am not placing the wrong one) Is that a bug? someone else getting that problem?
Regards SurferIt should work with template ... or may be I forget to use I-XO indicator? ... will check tomorrow.
TP is 0?
StopLossMode = 1; // 0-off,1-BT1,2-BT2
if 0 - not stop loss is placed; if 1 so it is placed on BT1 signal; if 2 - on BT2 signal.
TakeProfitMode = 0; // 0-off,1-on
If 0 so no take profit value is placed; if 1 - take profit is placed on the opposit pivot line.
TrailStopMode = 1; // 0-off,1-BT1,2-BT2
if 0 - not trailin stop; if 1 - trailing by BT1 indicator's line; if 2 - trailing by BT2 indicator's line.
What I mean is that if you set TakeProfitMode = 0, how will the ea end the position? at what level will it exit the trade?
and this leads me to my next question:
what kind of exit method did you use for the statement in Post #3? Was TP set to 1?
It should work with template ... or may be I forget to use I-XO indicator? ... will check tomorrow.
TP is 0?
StopLossMode = 1; // 0-off,1-BT1,2-BT2
if 0 - not stop loss is placed; if 1 so it is placed on BT1 signal; if 2 - on BT2 signal.
TakeProfitMode = 0; // 0-off,1-on
If 0 so no take profit value is placed; if 1 - take profit is placed on the opposit pivot line.
TrailStopMode = 1; // 0-off,1-BT1,2-BT2
if 0 - not trailin stop; if 1 - trailing by BT1 indicator's line; if 2 - trailing by BT2 indicator's line.Exit: take profit and/or trailing stop.
In my post example ... I do not remember exactly but it should have exit on pivot line (red line of ^Pivot_ResSup indicator in case of sell order exit).
So, if TakeProfitMode = 0 so there will be 1 way for exit only: trailing stop (stop loss is moving by trailing stop - by BT indicators' lines).
By the way, in normal way (trading normally ended by povit line as the final profit level) -
TakeProfitMode should be 1
and
TrailStopMode should be 1 or 2.
In case of trading on breakout (breakout pivot levels) - TakeProfitMode should be 0 and TrailStopMode should be 1 or 2. Trading on breakout is the following: final profit level as pivot line for normal trading is the enter for breakout trading (means: "I will exit but you will enter").
Do not forget about StopLoss as well. Stop loss value may be very small so just select any more bigger between value 1 or 2 (BT1 or BT2 dot/arrow) otherwise trade may be closed with -10 or -15 pips as stop loss value is very small sometimes. It is good to trade small deposit but it is necessary to select the right value between 1 or 2 to have more bigger one.
Same with trailing stop.
Exit: take profit and/or trailing stop.
In my post example ... I do not remember exactly but it should have exit on pivot line (red line of ^Pivot_ResSup indicator in case of sell order exit).
So, if TakeProfitMode = 0 so there will be 1 way for exit only: trailing stop (stop loss is moving by trailing stop - by BT indicators' lines).
By the way, in normal way (trading normally ended by povit line as the final profit level) -
TakeProfitMode should be 1
and
TrailStopMode should be 1 or 2.
In case of trading on breakout (breakout pivot levels) - TakeProfitMode should be 0 and TrailStopMode should be 1 or 2. Trading on breakout is the following: final profit level as pivot line for normal trading is the enter for breakout trading (means: "I will exit but you will enter").
Do not forget about StopLoss as well. Stop loss value may be very small so just select any more bigger between value 1 or 2 (BT1 or BT2 dot/arrow) otherwise trade may be closed with -10 or -15 pips as stop loss value is very small sometimes. It is good to trade small deposit but it is necessary to select the right value between 1 or 2 to have more bigger one.
Same with trailing stop.thanks for that explenation. was a big help for me. What times (GMT) are best to trade this system? I mean from when to when? i.e. 6am till 9pm or something
When you download template so you can see it on the chart as i_ParamonWorkTime indicator's color.
So, during GMT day time - EURUSD, GBPUSD and USDCHF. Some pairs you can trade at GMT night: for example - I traded USDJPY at night but in this case - change the time for input in i_ParamonWorkTime indicator.
would it be possible to write an automatic ea for this system?
Difficult. Because most significant part for this system is trading decision about to trade or not to trade (to open the trade or not). EA is just processing already opened trades.
yeah i see your point... did you check your template yet? I mean the I-XO issue I mentioned yesterday
Not yet.
Will check tomorrow.