Ilan for MetaTrader 5
Due to using the virtual trades, trading in both directions (buy and sell) simultaneously became possible.
This allows users to adapt the popular strategy for the net accounting of positions applied by MetaTrader 5.
Expert Advisor Settings
The Expert Advisor setup is simple. However, all the important settings of the strategy are available for adjusting. Available tools:
- Unique MagicNumber for identification of trades;
- Trade direction option (Trade direction): buy only, sell only or both directions simultaneously;
- Step for opening trades (Step) and profit size (TakeProfit) with automatic adaptation to 4 or 5-digit quotes;
- Start lot (Start lot) and the lot incrementation coefficient (Lot coefficient) for adaptation to specific deposit size;
- And finally, limitation on the number of deals (Max trades in one direction) and Stop Loss of the last deal of a series (Max loss of last trade) for risk management.
Use as much Ilan Expert Advisors on a single account as you need (even on a single financial instrument). Each of them will work with its virtual trades only without interfering with other instances. Trade manually together with the Expert Advisor - this will not affect the trade strategy. Disable the Expert Advisor at any time or start it when there are open positions - everything will work fine.
The list of virtual positions opened by the Expert Advisor is displayed on the chart - you can always see how many lots are in the market at a particular time period:
|Type||Open Time||Volume||Open Price|
A special CloseAndStopNow mode is implemented for closing all trades and stopping the operation: once it is activated, the Expert Advisor will close all its trades and stop operation before the user interferes. There is also a possibility to disable opening new series or any new trades: select a desired mode, and the Expert Advisor will wait to close the series with profit and then it will end its operation.
Attention! Positions opened manually or by other Expert Advisors do not affect the operation of Ilan! Watch the real volumes of positions that are managed by Ilan on the chart.
Use CloseAndStop mode for closing the positions of the Expert Advisor. Do not use SL and TP for open positions - that may lead to closing positions of the Expert Advisor without accounting them in the trade process!
You can view the Expert Advisor's trade result by testing it in the strategy tester.
You can customize trailing stop size ("TrailingStop in points") and the total position profit (in points), after which trailing is activated ("Start TrailingStop after profit").
Added ability to close the entire series of deals when the opposite signal appears ("Close on opposite signal").
Added ability to define the lot of a first deal in the series in percentage of the balance ("Risk for start lot").
Just choose the "TraderDream signal" in the settings, set the Period and Type of MA used in the indicator, and EA will work using new algorithm.
* "Simple signal" - original signal (like in the previous version)
* "MA cross signal" - crossing of 2 MAs signal (period and type are set by "MA Period" and "MA Type" variables)
Tip: In order to "reverse" the MA signal, interchange fast and slow MA periods. ;)
Several intervals can be set for each day of week. Thus, you can configure a flexible schedule for the entire week.
For example, if you set "00:00-11:59" interval for Monday, the Expert Advisor will open positions up to 12:00 (the interval's last minute is included).
If you set "13:58-14:05,15:28-15:35" intervals for Friday, the Expert Advisor will trade during 2 intervals having 8 minutes each.
The intervals should be specified in HH:MM-HH:MM format. 0 should be specified in hours and minutes less than 10. Wrong specification example: "0:00-1:20", correct one: "00:00-01:20". A comma (,) is used between the intervals as a separator. The number of specified intervals is not limited.
You can also select what time should be analyzed (does not work in the tester):
- Time Trade Server: trade server time (that you see in the terminal),
- Time Local: your PC's local time,
- or Time GMT (if your computer is configured correctly).
2. Added the possibility to prohibit opening deals during high spreads (MaxSpread parameter).
Good luck in trading!