RedeeCash Interest

About:

THIS EXPERT ADVISOR (EA) IS FOR ACCOUNTS WHICH PAY OVERNIGHT INTEREST LIKE THE US-BASED OANDA ACCOUNT. TO MAXIMIZE EARNINGS, CHOOSE A COMMISSION-FREE, FIX SPREAD ACCOUNT. IF YOUR BROKER DOES NOT PAY OVERNIGHT INTEREST, THEN DO NOT USE THIS EA ON YOUR ACCOUNT!

This Expert Advisor (EA) is like a high-yield savings account (EXCEPT YOUR ACCOUNT IS NOT FDIC-INSURED) because a trade will occur on currency pairs that pay(earn) overnight interest (when SWAPRATE_LONG and SWAPRATE_SHORT are positive). The entry and exit positions are based on the lookback period Lowest/Highest and Highest/Lowest prices for buy and sell orders respectively.

Common Inputs:

SINGLE_CURRENCY = true, permits operations on a single currency, when disabled (FALSE), will trade the currencies selected in the market watch window on metatrader.

CONCURRENT_ORDERS=0, restricts the number of multiple orders from being opened concurrently.

PIPS=1000, the profit PIPS (default is 100 but increasing to 1000 will increase profit potential while earning overnight interest)

MAX_AUTOLOTS_TRADE=2, the maximum trades that will use the AUTO LOTS algorithm with LOTS=-1

MAX_BROKER_LOTS=100, the maximum lots your broker permits, as MarketInfo(Symbol(),MODE_MAXLOTS) may return a value larger than your broker will permit.

MAX_PIPS=1000, the maximum PIPS distance between the highest and lowest low with the Ask and Bid prices.

MAX_LOTS=100, the maximum LOTS permitted on your trading account.

WAIT_TIME=1000, time in milliseconds, which specify the delay between expert advisor operations.

DODDFRANK_COMPLIANCE=false, if trading on a US-based account, you will need to enable FIFO to prevent receiving FIFO violations?

LOTS=-1, When the LOTs parameter is less than zero (or negative), the lot size is calculated using the internal algorithm based on 0.01 lots per every $100 USD of account equity (not balance). If the Account Currency is NOT USD, then the Account Equity is converted to USD for calculation (v1.31)

when LOTS=0, will fail the trade (like testing on a live account without risking funds, trade results saved in the log files),

When LOTS > 0 will override the algorithm without an error checking and send the lots in the order trade.

MYFXBOOK_SESSION="" LEAVE EMPTY TO IGNORE SENTIMENT ANALYSIS.

SENTIMENT=0|1|2, method to obtain market/symbol sentiment

USE_GITPAGES=false, when set to true will use the static files available at github.com/pingleware/pingleware.github.io

OANDA_HOSTNAME="", the host name for either live or practice OANDA V2.0 API

OANDA_TOKEN="", the API token for either live or practice.

MAX_SENTIMENT_PERCENTAGE=75, this up to the maximum short and long percentage that will permit a short or long trade. If the long|short percentage is this value or higher the long|short trade will NOT be sent. See the attached Youtube video that explains sentiment trading.

SYMBOL_SUFFIX="", MyFxBook uses six character symbols, you broker may add a suffix to the symbol. In order to match the global variables of the sentiment analysis long and short percentages, a suffix may be needed?

IMPORTANT: 

BEFORE YOU ATTACH THIS EXPERT ADVISOR TO A CHART, you must select the currencies pairs that you want to trade in the Market Watch, because this EA is architecture to use the metatrader SymbolsTotals and SymbolsName functions to obtain a list of tradeable currency pairs, so you only need to attach this EA to a single chart and trade multiple currency pairs. YOU DO NOT NEED TO ATTACH THIS EA TO EACH CHART OF THE DESIRED TRADEABLE CURRENCY PAIR.

RISK WARNING:

DRAWNDOWN MAY EXCEED 50% OF THE ACCOUNT BALANCE.

LIVE EXAMPLE:

The following public signal at https://www.mql5.com/en/signals/1623053 and https://www.mql5.com/en/signals/1697630 uses the production version of the RedeeCash Interest.

A live example of a signal which took a loss and built back up the account without any additional deposits and took another loss on 11/11/2022 when the CPI was lower than expected, https://www.mql5.com/en/signals/1614372