Dax Pro 2
Breakouts can generate good risk reward situations, that ist the strength of this system.
If the market meets certain volatility criterias the bot is waiting to trade a breakout. This bot recognises the number of times a breakout level gets tested and places an order right in front of the breakout level to avoid slippage.
Slippage Correction makes sure no unneccessary risk gets taken.
The bot is meant to be traded with indices, especially the Dax but it works on all underlyings. The minute chart is the standard setting.
Strongly advised to have a broker with overnight data and spread lower than 1.2 Indexpoints for Dax.
Use this bot if:
- you want to have trading indices automated and prefer to not take overnight risk
- You want to invest for a longer period than 6 months
- You need a stable strategy in your portfolio
Trades are closed at the end of day:
This Bot is made for daytrading, so trades are closed at the end of day. However it can be turned off to trade timeframes like H1 which works for EURUSD for example.
We’re using fixed account size or percentage risk. Volume (Lots) will be adapted to the stop size automatically.
Bollinger Period(20): Bollinger Period Value. (is used as a volatility filter in this bot)
Threshold Exit(5.0): Threshold number for the „impulse-exit“
Setup Validity Candles(16): Validity in candles for a breakout level
Lookback Candles(6): How many candles are used to set breakout high/low
End of Day Closing(on): Close trades at end of day on/off.
Max Trades Loss / Day(5): How many trades can end in loss for each day.
Risk in Percent (1.0): Riskpercentage of the Accountbalance to invest per Trade. 1.0 = 1% of the account.
Risk in Currency (0.0): Risk in Accountcurrency. F.e. 100.0 = 100$ if you're using a Dollaraccount. Notice that both options cannot be active at the same time. Either Riskpercentage or Riskcurrency.
Notify by Push (off): Activates Notification via Push-Message to your Metaquotes ID (which can be received on your smartphone app with a sound)
Notify by Mail (off): Activates Mail Notification for Trade Entries. (Email must be set further down)
Notify by Alert (off): Activates Alert Notification which will trigger a sound on your MT4 desktop installation
Address for Mail Notification (firstname.lastname@example.org): self explanatory
Hour to start trading (9): Should be set because brokers can have different times. For the dax 9 means, for most london based brokers, that trading will start on 8:00 EUREX opening.
Hour to end trading (22): At this hour and after trading will be disabled.
Write Results to File (off): When you turn this on, there will be an entry in a csv file in the format: [OrderOpenTime,OrderCloseTime,Symbol,Strategy,Riskpoints,Lots,Tickvalue,Margin,Riskpercent,Percentagegain]. Can be generated from backtest and in live mode. For more informations watch the end of the video above.
Here you can setup the magic identfier used for this ea. Should not be the same as with other experts, so check that before running multiple EA's.
I hope you enjoy this product. If you have any questsions, just send me a PN I'm always there to help ;)