Trend Magic Expert
The Trend Magic Expert trades the signals of the Trend Magic Indicator. A sophisticated take profit system lets profits grow.
No martingale, no grid, never more than one order is opened, always with Stop Loss.
The hour when the indicator sends a signal is important for the strategy - do not forget to set UTC (GMT) correctly according to the timezone of your broker!
The trading robot works on every chart and period. The input parameters are optimized for EURUSD M5 chart.
- UTC: (GMT) timezone of the broker must be set according to time shown in Market Watch (more info about timezones is found in MS Windows date and time settings).
- Auto_Moneymanage: automatic money management can be used or disabled.
- MiniLots: if set to true, automatic money management works in steps of 0.01 lot.
- MaximumRisk: how much % of account free margin is set to risk for each trade.
- CorrLots: in some currencies and cfds automatic money management doesn't give the correct lotsize, with this setting it can be corrected. Find the correct value by backtesting.
- Lots: lot size if automatic money management is disabled.
- SL_Buy: distance of stop loss from order open price in points for buy orders.
- SL_Sell: the distance of stop loss from order open price in points for sell orders.
- TP_Buy: distance from order open price in points where the order is closed for buy orders.
- TP_Sell: distance from order open price in points where the order is closed for sell orders.
- Counter: number of bars used for calculation of the Trend Magic Indicator that triggers the trades.
- PowerSet: shows how near to the bars the trigger points are placed (note: the robot doesn't draw the dots. To see them attach the Trend Magic Indicator to the chart).
- magic: magic number on which the robot recognizes his positions.
- UseMagic: set to false the robot doesn't consider if a order has a magic number. So the robot can be used to close a manually (or by another robot) opened position.
- CloseStraightInd: set to true the robot doesn't close open positions at given TakeProfit. It closes positions when the Trend Magic Indicator indicates a change of trend direction.
- HourStart: hour when the robot starts opening orders.
- MinuteStart: minute when the robot starts opening orders.
- HourStop: hour when the robot stops opening orders.
- MinuteStop: minute when the robot stops opening orders.
- HourPause1: hour when the robot doesn't open orders. At certain times many currencies are trendless, producing false signals.
- HourPause2: hour when the robot doesn't open orders. When set to 24 or higher the function is disabled.
- HourPause3: hour when the robot doesn't open orders. When set to 24 or higher the function is disabled.
- HrFriStop: hour when the robot stops opening orders on Fridays, to avoid holding positions over the weekend.
- HrFriClose: hour when the robot closes open orders on Fridays, to avoid holding positions over the weekend.
- HrDailyClose: hour when the robot closes open orders every day, to avoid holding positions over night in CFDs where market is closed overnight.
- MinClose: minute when the robot closes open orders Fridays or every day.
- Comment_Buy: Comment given to a order. It is shown by mouse-over where the order was opened in the chart.
- Comment_Sell: Comment given to a order.
- EURUSD_M5: set to false the robot doesn't consider the following settings which are optimized for EURUSD M5 chart. It works then straight following the signals of the Trend Magic Indicator.
- PeriodMA: moving average used to filter the signals of the Trend Magic Indicator.
There is 30 more settings in the input window of this robot. Ignore them if you just want to trade EURUSD M5 chart. But for a long term success with every robot you should understand at least basically how the robot works.
Take a look at the comments tab of this robot.
Information with sceenshots about all filters and its settings you find there. As all settings can be changed, the robot can be perfectly optimized for other charts. Print functions show active traders when which filter or function was activated, what helps optimizing. Users of this robot can suggest new settings and additional functions which can be realized in future versions of the robot.