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Rules
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Specification
McGinley Trading EA
- · Strategy Rule 1: TimeFrame #1 is always ON. When at the close, open or during the candle of TimeFrame #1 the direction changes and signal to open a trade occurs in the matching direction but only if TimeFrame #2 and or TimeFrame #2 and #3 are already in the matching direction.
- · Strategy Rule #2: When a new signal is provided in the opposite direction of any currently open signals then close all currently open trades and open a new trade in the opposite direction.
- · Strategy Rule #3: Hedge losing trades when stop loss is reached long enough until the hedge breaks even.
- · A pip is as seen in MT5, so XAUUSD 2000.00 to 2000.01 is 1 pip
· Time frames to Match.
o TimeFrame 1: (Monthly, Weekly, Daily, H4, H1, M30, M15, M5, M1.. etc..)
§ Period:
§ Price:
§ Calculation Type
§ Open Trade: During Candle / Open of Candle / Close of Candle
o TimeFrame 2: On / Off
§ Time 2: (Monthly, Weekly, Daily, H4, H1, M30, M15, M5, M1.. etc..)
· Period:
· Price:
· Calculation Type
o TimeFrame 2: On / Off
§ Time 3: (Monthly, Weekly, Daily, H4, H1, M30, M15, M5, M1.. etc..)
· Period:
· Price:
· Calculation Type
· Money Management
o AutoLotSize: True/False
o RickFactor: # (% of Balance) 0.01 (Balance is $100 USD and I enter 0.01 then the traded about will be $1)
o ManualLotSize: #
o DailyTarget Pips: # (0 = Not using)
o DailyLoss Pips: # (0 = Not using)
· Set Order Parameters
o UseTakeProfit: True/False
o Lot Percentage 1: True/False
o Lot 1 TakeProfit Pips: # (0 = Close on reversal signal)
o Lot Percentage 2: True/False
o Lot 2 TakeProfit Pips: # (0 = Close on reversal signal)
o Lot Percentage 3: True/False
o Lot 3 TakeProfit Pips: # (0 = Close on reversal signal)
o UseStopLoss: True/False
o StopLoss Pips: #
o UseTrailing Stop: True/False
o Trailing Stop Start: #
o Trailing Steps: #
· Time Filter
o UseTimeFilter: True/False
o TimeStartTrade: 00:00
o TimeEndTrade: 11:59
§ Hedging:
§ Break Even: On / Off
§ Video explaining strategy: https://www.loom.com/share/65133f123d114ad39c5bccc1643a17a6
§ Will include Neural Network for EA: see this article for what to include.. https://www.mql5.com/en/articles/2279
§ How scaling out of trade will occur: https://surgetrader.com/how-to-scale-out-of-positions-with-an-example/
Indicator is attached