Taranus Light is lite version of the universal assistant for traders, the Taranus EA for Forex. Taranus Light uses only market orders. Management of the Expert Advisors is similar, at the same time the peculiarity of trading market orders provides the trader with new possibilities and allows to use new strategies. The EA is suitable for both experienced and novice traders.
Features of the Taranus Light
- only works with market orders;
- orders are opened only after the closure of the previous bar Close;
- it can work based on one Moving Average (МА) or two МАs;
- two filters for determining the trend direction - Auto_Trend 1 and Auto_Trend 2;
- you can manually set trading in one direction - either Buy or Sell;
- there are trade levels, which can be used for trading both the breakouts and rebounds;
- trailing stop by volume for the opened positions;
- closing orders when the specified percentage of profit/loss is reached;
- multiple Taranus_Light experts can work for overall profit and considering the total loss;
- opening and closing orders by time (days, hours, minutes, seconds);
- operates on 4- and 5-digit accounts;
- currency of the current account can be either US dollars (USD) or Russian rubles (RUR).
Block 1 «GENERAL SETTINGS»
- Magic Number - if multiple experts work on the account simultaneously, set an individual magic number for each of them;
- Close, if the Profit! - if the Profit value is positive, the EA will close all orders and stop its operation;
- Close by Stops! - the EA will ignore indicator signals and close all positions only by stop loss or take profit.
Block 2 «RISK MANAGEMENT»
- Take Profit - value of the take profit;
- Stop Loss - value of stop loss;
- Lots - fixed lot size;
- Risk in % - AutoLot calculation - automatic lot size calculation;
- Slippage - slippage in points;
- Profit in % - profit percentage by equity, when reached the EA will close all positions and stop its operation;
- Loss in % - limitation on loss percentage by equity, when reached the EA will close all positions and stop its operation;
- Gross Profit - when the gross profit percentage is reached, all positions on the account will be closed and all EAs will stop their operation;
- Gross Loss - when the gross loss percentage is reached, all positions on the account will be closed and all EAs will stop their operation;
- New Start upon opening bar - start of a new operation cycle of the EA, and recalculation of new profit and loss values.
Block 3. «THE TREND»
- Auto_Trend 1 - automatic detection of the trend direction using the Moving Average (MA);
- timeframe for Auto_Trend 1 - timeframe to determine the trend;
- trending MA period - period of the trend moving average (based on Close);
- trending MA shift - shift of the trend moving average;
- select the type of trending MA – calculation method of the moving average;
- Auto_Trend 2: - automatic detection of the trend direction using the Awesome Oscillator and Parabolic SAR;
- timeframe for Auto_Trend 2 - timeframe to determine the trend;
- Parabolic step – step of the Parabolic SAR;
- Parabolic maximum – maximum of the Parabolic SAR.
- BUY - Buy trades only - Only buy;
- SELL - Sell trades only - Only sell.
The full manual for the Taranus Light EA, as well as the set files and templates for it can be found in the Comments section.