Rebate trend systemHL
The indicator efficiently opens a great amount of orders. That can be useful if you want to receive a rebate or you need to trade a certain amount of lots on an account with a non-deposit bonus when boosting a deposit. The indicator is a source of signals for autotrading together with a free panel Waddah Attar Anti Limit Brokers Slippage. You can download it on the Market via the link below. Also, the indicator can be used as a trend filter.
The indicator draws horizontal lines of green and red colors. Using these lines, the panel opens orders with the positive slippage effect (slippage beneficial for a trader). The green line is a buy limit order, while the red one is a sell limit one. When an order is activated, the panel removes the indicator line and draws its own take profit line (if AutoTpToLimit is true) with the positive slippage effect.
The Indicator's Second Function
If lines are disabled in the indicator parameters, it can be used as a trend filter and a signal source for entering by trend. When developing an Expert Advisor: buffer 0 of the indicator is to be used for selling, buffer 1 is to be used for buying.
- Order frequency (1-500). 1 - always in the market, 500 - rare. Leave 1 for rebate. In this case, a large amount of orders will be opened. The greater the value, the lower the amount of positions.
- Sensitivity to a trend change (5-300). The value of 32 is selected by default. The greater the value, the lesser the "noise" and the lower the sensitivity to a trend change.
- Quality. Amount of signals on extreme values - the lower the value, the lesser the amount of loss-making long and short deals near the tops and bottoms (0.5-5.5).
- Line. Drawing the lines.
- Line color when the cyan arrow appears. You can use the red one for trading against a trend or the green one for working by a trend.
- Line color when the orange-red arrow appears. You can use the green one for trading against a trend or the red one for working by a trend.
- Line width. The size of a position opened by the panel depends on the parameter. See the panel description.
Using the Indicator+Panel System
- Rent or buy the Rebate trend systemHL indicator.
- Download the panel Waddah Attar Anti Limit Brokers Slippage from the Market. The panel is free and can be found here: https://www.mql5.com/en/market/product/9636.
- Launch the Rebate trend systemHL indicator on the necessary symbol chart and specify its parameters.
- Launch the Waddah Attar Anti Limit Brokers Slippage panel on the chart.
- Select and apply the panel parameters. Watch how trading is performed.
- The magic number of orders opened by the panel is 0. It cannot be changed. Therefore, it is not recommended to use the system together with other EAs.
If you have questions concerning the installation and usage, please contact me via private messages or Skype.
In order to monitor open orders, I recommend using free TradingInfo indicator. It can be found here: https://www.mql5.com/ru/market/product/12929.