The MFI Trader can be used for any symbol. It uses the Money Flow Index combined with the MACD indicator, both based on the H1 timeframe, to determine the entry points for long and short orders. Orders are opened and closed automatically. The number of parallel open orders can be limited by the user and is by default set to 10 for each. There are two modes the program can be run which can be controlled by enabling and disabling 'mode1'.
If 'mode1' is set to true, the trailing stop is enabled and in addition buy orders and sell orders are being opened and closed independently of each other. Whereas if 'mode1' is set to false, there is no trailing stop applied to open orders and currently open buy and sell orders influence the closing price.
Martingale per default is set to true and increases the lot size of new orders. However, it does not always double the lot size. The lot size of additional orders will be increased by the base Lots value for consecutive orders.
- Money Flow Index based on the H1 timeframe
- MACD based on the H1 timeframe
- Moving Average based on the H1 timeframe
- Lots - 0.1 (default)
- maxorders_buy - 10 (default) - limit the number of buy orders to be opened in parallel
- maxorders_sell - 10 (default) - limit the number of sell orders to be opened in parallel
- closinglevel - 250 (default) - depending on your symbol, lot size and your broker, you need to increase or decrease this value; the higher this number is, the more profitable the trades need to get before they will be closed
- TrailingStop = 500 (default) - trailing stop will only be applied if mode1 is set to true
- mode1 = false (default)
- martingal = true (default)
- MagicNumber - 5555 (default)