Another Mandrine mod, this time just using regular Mandrine indicator setup, but if you choose you can filter your trades using fibs, the fibs draw on your chart automatically when Mandrine installed, they will be there whether you use them as filter or not, and if you do use them if the ma's cross around s1 or s3 fib, ea should take buy, and if ma's cross between r3 and r1 fib should take a sell, if whoever testing could please take notice where the large majority of the crosses happen maybe we can nail it down and the code can be easily changed to match. Watched it on M15 visual tester for a long time last night looked pretty interesting. The Take profit,stoploss,trailing stop are all controlled by a percentage of the user specified timeframe Range.
ps) meant to add the most important the Ea is actually Mladen's DoubleMacd Rsi, I just changed out the indicators to match the old timer Mandrine, so now its an old EA with a nice younger sleeker look!!!!
Thanks a lot.
I was in contact with Mrtools since yesterday to understand how this version of Mandarine EA works.
So, it is really great improvement as take profit, stop loss and trailing stop values are calculated automatically based on the range of the price for selected timeframe for selected bars back.
I will describe later tomorrow about this version: the settings, description, how to use and so on.
After that - I think - I will change old Mandarine EA to this new Fibo version.
I am going to make some explanation about this version, about the settings, timeframe and so on.
It is really great improvements: take profit/stop loss and so on are calculated automatically based on price range, EA is checking market condition to decide "to trade or not to trade", Fibo lines are used for confirmation if buy or sell order ... and more and more.
Besides, this EA can be used with ECN broker and with IBFX broker too.
This improvements were as fundamental so it was decided to create the special section for all those systems.
I installed 2 copies of Metatrader for this EA with many pairs and different settings. I will post results with the explanation later.
Just some explanation about how this new EA is working.
1. First of all - T3 calculation was improved for this EA to perform faster.
2. Some paratemers were added.
Range.stopLoss, Range.takeProfit, Range.trailingStop, Range.lockProfit.
It is stop loss/take profit/trailing stop/lock profit multipliers.
Means: multipliers of the range of the price taken for Range.timeFrame timeframe for Range.length bars back.
3. Fibo and conditions for buy and sell.
As we see from the code:
t3=iT3(T3_Period); //period 5
emaf11 = with period 5 for bar #1
emaf12 = with period 5 for bar #2
emas21 = with period 20 for bar #1
emas22 = with period 20 for bar #2
Condition for buy:
emaf11 > emas21 && emaf12 <= emas22
is 2 MA indicators crossing.
With the confirmation:
- MA with period 5 should be > T3
- If UseFibpivots = true so T3 should be between support 1 and support 3 (some oversolded condition, let's say).
Condition for sell.
2 MA indicators crossing with the confirmation:
- MA with period 5 should be < T3
- If UseFibpivots = true so T3 should be between resistance 1 and resistance 3 (some overbought condition, let's say).
So, this EA is having 2 modes inside coded:
- with UseFibpivots = false
- with UseFibpivots = true.
Mod with UseFibpivots = false is more risky then UseFibpivots = true.
How to instal.
1. First of all - you should select: this mod of this EA you want to use: more risky but trading more often (UseFibpivots = false), or less risky but it will not trade often (UseFibpivots = true).
I am using both (I installed 2 instances of Metatrader).
2. Download EA, place it in experts forder of your Metatrader's directory, compile in MetaEditor.
3. Timeframe and pairs.
I started to use it with EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, USDCAD, NZDUSD, GBPJPY and GBPCHF.
I am using default setting with the exception:
- UseAutomatic MM.
If true - lot size will be camculated automatically based on your deposit size. If false - we will have fixed lot size.
0.1 for example, or whatever value we place in BaseLot parameter.
- UseFibpivots as true or false.
I said about it above.
MagicNumber should be different for different pairs.
- EcnBroker. If your account is SPT type so use this EcnBroker to true.
I looked inside the code and it seems the calculation is based on the
Fulks/Matulich way (which, imho, is more accurate to me).
But maybe I'm wrong. Can you confirm that?
Many thanks for your time,
This a new version if you use T3 original = true it will be calculating T3 using Tillson method which to a lot of people me included thinks there is more lag etc. is you use T3 Original=false the T3 will be working the Fulks/Matulich way.T3 basic needs to be in indicators folder.
thanks for your effort and for your very well coded EA.
I started forwarding test in the conservative way ( usefibpivots=true )
Any questions feel free to ask if i'm not around sure there will be someone to help!!
Went from HI Chart to M30 Mandarine opened some trades got one on eurjpy last i checked was up +100 pips, another on gbpjpy up around 50 pips another gbpusd kinda floating from -10 to + 10 pips, on the charts picture taken now since trades were taken sometime yesterday price was above pivot but since these fib pivots change position daily it's why they are where they are now.
Yesterday EA took a trade on EURUSD (see attached image), it's going fine at the moment, +80 pips,
but I wonder if the stop loss and take profit set by EA are correct since they're very wide : about 400 pips.
I'm using a 4 digit (no ECN) broker, maybe is a problem? Or maybe the EA is using hidden or dynamic stoploss and takeprofit?
Btw, I use the version of the first post, all original settings with MM=false and usepivotlevels=false (my intention was to set it to true but I messed up).
Thanks for your time.