Pattern 123 Zig Zag
- Visually, draws in real time on the current chart :
- Pattern 123 based on the given input parameters;
- the level of the alleged breakout;
- the estimated level of take profit;
- input signal line.
- Not used martingale, grid, hedging and dangerous elements of money management.
- It is possible to set allowable values of TakeProfit and StopLoss.
- Ability to use a fixed transaction volume.
- The volume of each trade can be calculated automatically, depending on the "Risk Equity ( % )" variable specified in the input parameters.
- Select the type of trade or work only as an indicator.
- The selection of the execution type:
immediate or pending stop orders.
- Select the type of use of the loss level (stop loss):
points or price of the point №3 of the Pattern 123.
- Select the type of use of the profit level (take profit):
points or calculation relative to the Pattern 123.
- The ability to set parameters for the search Pattern 123 :
- the time period and the Depth variable of the ZigZag indicator, on which the Pattern will be searched;
- the permissible level of the shoulder [2, 3], the size of the shoulder [1,2].
- The magic number - the advisor's identification number can be -1 (minus one), 0 or any positive number.
- If "The magic number" is zero, then all open or set orders manually adviser will consider their own.
- If "The magic number" is -1 (minus one), then all open or established orders manually or other adviser the adviser will consider as their own.
- Allowed to open orders - you must choose the type of trade from the offered options:
- No permission to open orders - orders are not allowed.Can be used as an indicator;
- Only Buy - you can set an order only to buy;
- Only Sell - set the order only for the sale;
- Buy & Sell - you can set orders and buy , and sell.
- Type of execution - you must choose the type of execution from the offered options:
- Instant/Market Execution
- Pending Order Stop
- Fixed lot (volume) - the volume of the order to be placed.
- If "Fixed lot (volume)" is zero, then the calculation of the volume of the order to be set will be calculated automatically, depending on the variable "Risk Equity (%)" specified in the input parameters.
- With "Fixed lot (volume)" greater than zero, the parameter "Risk Equity (%)" becomes inactive. And the volume of orders to be fixed will be fixed.
- Risk Equity (%) - the allowable risk per transaction as a percentage of free funds on the account. With increasing risk, profit increases, but the drawdown also increases.
- StopLoss Type - type of use of the loss level:
- No Stop Loss
- Number - value is used "StopLoss Number"
- StopLoss Number - level in points;
- Point #3 - price point # 3 pattern 123.
- TakeProfit Type - type of use of the profit level:
- No TakeProfit
- Number - value is used "TakeProfit Number"
- TakeProfit Number - level in points;
- Calculated level - point 3 (price) +/- (the distance between points 1 and 2 * "Level to calculate TakeProfit")
- Level to calculate TakeProfit - number from 0.001 (it is possible to use Fibonacci levels: 1.000, 1.236, 1.382, 1.618, 1.764, 2.000 and so on ).
- ZigZag Time Frames - the time period of the ZigZag indicator on which the pattern will be searched. Periods are used:
- ZigZag Depth - variable Depth of the indicator ZigZag, value from 5 to 50.
- Minimum level 2-3,size 1-2 - the minimum allowable level of the shoulder [2, 3], from the size of the shoulder [1,2]. A number between 0.001 and 0.999.
- Maximum level 2-3,size 1-2 - the maximum allowable level of the shoulder [2, 3], from the size of the shoulder [1,2]. A number between 0.001 and 0.999.
If you have questions or ideas for improving this Expert Advisor, please contact me.
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