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Knot of The Ring MT4

Knot of The Ring MT4 is a MetaTrader 4 version of EA Knot of The Ring.

Knot of The Ring MT4 is an Expert Advisor based on a unique triangular correlation. Different from other triangular correlation strategy at common, it uses knot/node of triple symbol as a pioneer to attack the market. After that if it is contrary to market direction, it will use the two other symbols to safe it. There are 3 layers of rings to give safety.

Of course you can use other knot symbol to form your other rings. For example this EA is using EURUSD pair as knot symbol. For symbols of Ring 1 EURAUD and AUDUSD are used, symbols of Ring 2 are EURGBP and GBPUSD and symbols of Ring 3 are EURJPY and USDJPY.

The other power of this EA are take profit, stop loss, trailing and distance of rings in percentage or money term, together with whole strategy, hope will give the confidence to trade.

To use this EA you should attach it on one chart only with any time frame and no need to open the others.


Input parameters

GENERAL INFO

  • Expert Name - name of this EA.
  • Expert version - version of this EA.
  • Expert Developer - developer name.
  • Expert Setup - explanation to attach this EA on a chart.

GENERAL SETTING

  • Magic Number - magic number.
  • Time frame - time frame.
  • Reverse order - if true, open position will be reverse.

MONEY MANAGEMENT

  • Money management - use auto lots calculation.
  • Percent of free margin for a deal - risk based on account balance to calculate lots.
  • Volume in Lots if money management false - fix lots if money management is set to false.
  • TP, SL, Trailing and Distance type - type of Take profit, Stop loss, Trailing and Distance (money or percent).
  • Take Profit, if 0 not used - if this target reached, the EA will close position.
  • Distance of Ring 1, if 0 not used - if this ring reached, the symbols of ring 1 will be open position.
  • Distance of Ring 2, if 0 not used - if this ring reached, the symbols of ring 2 will be open position.
  • Distance of Ring 3, if 0 not used - if this ring reached, the symbols of ring 3 will be open position.
  • Stop Loss, if 0 not used - if this target reached, the EA will close position.
  • Trailing start, if 0 not used - value to start trailing.
  • Trailing width - width of trailing.
  • Restart trade if one of Target is reached (true or false) - if set to true, the EA will restart a trade after the target profit is reached.

SYMBOL SETTING

  • Symbol of Knot - symbol of knot.

RING 1

  • Symbol 1 of Ring 1 - first symbol of Ring 1.
  • Symbol 2 of Ring 1 - second symbol of Ring 1.

RING 2

  • Symbol 1 of Ring 2 - first symbol of Ring 2.
  • Symbol 2 of Ring 2 - second symbol of Ring 2.

RING 3

  • Symbol 1 of Ring 3 - first symbol of Ring 3.
  • Symbol 2 of Ring 3 - Second symbol of Ring 3.
Since MetaTrader 4 strategy tester does not allow users to perform multicurrency tests, then the test result do not perform properly. You can perform backtest in the strategy tester using MetaTrader 5 version of Knot of The Ring. The screenshot below taken from this version.
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Version 1.23 - 2017.11.09
- Fixed bug of Close orders
- Added Stop Loss
- Added Trailing equity
- Added option TP, SL, Trailing and Distance type
- Added Pause and Exit button
- Added Reverse order
Version 1.22 - 2017.10.25
Fixed Initial Balance (hide it from input parameter, by default initial balance using Account Balance)
Version 1.21 - 2017.08.30
- Fixed close/start button and Account P/L
- Improved display
Version 1.11 - 2017.07.27
- Added graphical display
- Added close button
- Fixed some bugs related to close all at target profit reached