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Shmendridge PAM Turnip for MT4

About the Shmendridge PAM (Price Action Master) EA Series (2.2 Engine)

  • Check the Comments area for information about live real account tracking of all Shmendridge PAM bots.
  • These multi-symbol multi-time-frame bots enter on high probability engulfing bar and shooting star/hammer/pin bar patterns with a stop order. (Delays won't matter, slippage and spread not a big deal on larger time-frames.)
  • They may consider up to 4 secondary time-frames in their analyses and score of space, trend, quality of price action bar, quality of important locations of support and resistance, big round numbers, MACD divergence, moving averages as support and resistance and quality of pullbacks.
  • These bots can print a special csv log file for statistic analyses of each observed criteria. (MT5 version only)
  • The bots are based on many of the trading principals of the James16 chart thread. *Neither I, nor my EA are affiliated in any way to the Jame16 group.
  • These bots can automatically detect the first trouble area and move stop at this point.
  • Non scalper. Uses only completed bars in its calculations.
  • Non Martingale. Percent of equity is always used to calculate risk.
  • You may wish to use the MT5 versions for multi-symbol testing as MT4 tester can only test one symbol at a time. (MT4 will run in multi-symbol mode when running live only.)

About the Shmendridge PAM Turnip

  • This PAM bot has been trained to focus on entries on the H1 time frame chart likely to give a bigger move. H4 and D1 are also examined and included in the considerations with a lot of weight on trend.
  • This EA uses an advanced trailing stop which includes big round numbers and recent bar lows in it's calculations.
  • This EA automatically detects the first probable trouble area and moves stop at this point.
  • Pre-optimized for wide range of markets. Ready to go.

Settings (Pre-optimized for H1)

  • FREQUENCY—Seconds in between main program calls. Higher number uses less CPU running for live and has no effect in tester.
  • StartDate—Date to begin trading. Will only pre-load bars in fast mode up till this date. This EA requires 350 daily bars to begin trading as well as 350 bars of H1 and H4.
  • OpenAllChartsOnStart—If necessary, it will automatically open all charts of each SYMBOLx and TIMEFRAMEx to make sure enough data is loaded to run live. You may close them after but you must leave all the SYMBOLx in market watch.
  • LOTS—Risk size in percent of equity.
  • Slippage—Maximum slippage.
  • MAGIC_NUMBER—Unique ID of each EA.
  • EXPOSURECHECK—If true will not open correlated trades.
  • CheckMargin—If false it will bypass the free margin check. Turn it off to save CPU during tests.
  • InitiateAddToEquity—Will create a terminal global variable called "ADDTOEQUITY" if one does not exist it will initiate the global variable with the amount set. "ADDTOEQUITY" global variable is used in the lot size calculation as additional account equity if non 0.
  • ForceInitiateAddToEquity—If true it will overwrite "ADDTOEQUITY" with the amount set in InitiateAddToEquity regardless if "ADDTOEQUITY" already exists or not.
  • CheckMargin—If false it will bypass the free margin check. Turn it off to save CPU during tests.
  • UseHiLow—If true, will always place initial stoploss at the high or the low of the price action bar.
  • Stop—Initial stop-loss distance in ATR.
  • TakeProfit—Take profit distance in ATR.
  • THRESH—Sensitivity of placing new orders. The higher this setting, the more "picky" the PAM bot is. The lower the setting, the more frequently it trades.
  • UseMaxSpreadFilter—If true then the maximum spread filter is used.
  • MaxAvgSpread—The maximum average spread allowed for the maximum spread filter, expressed in ATR.
  • SYMBOLS—The total number of different symbols to be included in the strategy.
  • SYMBOL1...SYMBOL30—Enter each symbol to be included in the strategy.
  • riskadj1...riskadj30—Enter each risk multiplier for each symbol in case you want to risk more or less than the specified Lots percent for some symbols. This is a multiplier so 1 is normal risk. 0.5 is half risk. 2 is 2x risk.
  • PrintScores—Prints out the score details of each PA.
  • Verbal—Prints out various extra information.
  • ALERTS—If true pops an alert on each new order placed.
  • PrintOrderStats—Prints all volumes of open orders
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Version 2.3 - 2015.07.30
-Added consideration to the "extremeness" of pullbacks.
-Re-Optimizaed
-fixed SL unchanged error when modding SL