Take a Break Indicator
FREE indicator for my trading utility Take a Break.
This indicator allows you to manage multiple other EAs with just one Take a Break EA instance.
Simply specify the corresponding Chart Group in the indicator(s) and Take a Break EA settings and you are good to go.
Setup example (Indicator + EA)
You want Take a Break to manage 3 other EAs: EA1 on EURUSD, EA2 on EURGBP, EA3 on GBPUSD.
- Download the indicator and the EA to your MetaTrader.
- Add the URL https://trading.custom-solutions.it to the list of allowed WebRequest URLs (press CTRL+O, tab "Expert Advisors")
- Attach the indicator to the EURUSD chart with EA1. Specify "EA1" as the Chart Group.
- Attach the indicator to the EURGBP chart with EA2. Specify "EA2" as the Chart Group.
- Attach the indicator to the GBPUSD chart with EA3. Specify "EA3" as the Chart Group.
- Open a blank, new chart (timeframe: M1) and attach the Take a Break EA to it.
- Enter "EA1,EA2,EA3" when asked for "Which Chart Groups should be managed?" in the "REQUIRED SETTINGS" section.
[This section is unavailable in the demo version of the EA as Chart Groups are limited to "Default".]
- OPTIONAL: Specify the "Magic Numbers" of EA1, EA2 and EA3.
By default, Take a Break will manage all trades (entire account). So in our example, Take a Break will manage all EURUSD, EURGBP and GBPUSD trades independent of their magic numbers.
If you want only specific trades to be managed by Take a Break, enter their magic numbers like e.g. "1,2,3" ("0" for manual trades).
That's it! Take a Break will now take care of all your other EAs by applying the filter settings you defined.
- Recreate default templates?: Only applicable to "Template type to create" = "Trade IS allowed". If you use the default, auto-created templates for "Trading is NOT allowed" and "Profit/Loss Limit reached" and want them to use the latest settings of the "Trade IS allowed" template (e.g. after you changed the "Label Color"), you can recreate these template types by enabling this option. Note that this will overwrite the existing ones for this Chart Group. Thus, this option should not be enabled if you use custom templates for "Trading is NOT allowed" and "Profit/Loss Limit reached".
- EA version 4.0 has been a major performance upgrade with an almost entirely rewritten code base. This upgrade allows Take a Break to handle even large-scale chart setups while consuming a minimum amount of CPU power. From this version onward, the frequency of the news + time filter checks is controlled by the chart timeframe. Due to this, Take a Break EA must be run on a chart with timeframe M1 so that these checks get executed every minute. Conveniently, the EA will change its timeframe automatically if it was not attached to an M1 chart right away.
- From indicator version 1.30 onward, the chart templates for "Trading is NOT allowed" and "Profit/Loss Limit reached" are auto-created if they do not exist already. That should facilitate the setup process for most use cases of Take a Break. If you want to create custom chart templates (e.g. you want another EA to trade during news) or want to overwrite existing ones, do the following:
- Setup a chart with all required EAs/indicators.
- Attach the Take a Break indicator to this chart.
Specify the corresponding "Chart Group".
Select the "Template Type" you want to create/overwrite ("Trading IS allowed" / "Trading is NOT allowed" / "Profit/Loss Limit reached").
Feedback, improvements or enhancements are appreciated.
If you need any assistance, please contact me.
- "Draw News Lines on Chart": if set to "true" (default), displays the relevant news on each symbol's chart as well. Note that this option requires EA version >= 4.93.
- "Show Label": should you decide to "Draw News Lines on Chart", you may want to hide the label "Take a Break EA Settings" for a better overview.
The good news is that no template data was lost. The bad news is that depending on your filter settings, not all of your charts might still be managed by Take a Break EA. So after the update, please check your chart setup(s) and make sure that all relevant charts still contain the Take a Break indicator. If it is missing, please add the indicator to the chart again - either manually or by applying the corresponding template: right-click on the chart, select "Templates -> Load Template", navigate to "MQL4\Files" (MT4) / "MQL5\Files" (MT5) and select the template to apply.
I apologize for any inconvenience caused!
This version introduces a new template management mode for Take a Break which facilitates working with the created template files. Please restart your MetaTrader terminal after this update to take full advantage of it. On startup, your current template files will be migrated conveniently.
Also, you may want to clean up the old template files afterwards (as this cannot be done automatically due to file security restrictions in MetaTrader):
- right-click on a chart, select "Templates -> Remove Template" and remove all TaB* prefixed templates OR
- delete all TaB* prefixed files in "[TERMINAL_DATA_FOLDER]\Profiles\Templates\" (MT5) / "[TERMINAL_DATA_FOLDER]\templates\" (MT4) and restart your terminal again
- Fixed a bug which caused the chart template type not to be recognized correctly. That mainly happened if another order management EA was used that interfered with Take a Break's work.
- Removed parameter "Save template file?". Template files are always saved now.
- "Recreate default templates": if set to "true", the default chart templates for "Trading is NOT allowed" and "Profit/Loss Limit reached" are recreated/overwritten forcibly even if they exist already.
This should facilitate the setup process for most use cases of Take a Break. Of course, you can still overwrite these templates if you wish to create custom ones.
Next up is an update of the EA which fixes its high CPU usage on setups with many charts. This update will be released within the next few days.
- Fixed a bug which caused freezing/unresponsive terminals after applying the indicator to a chart. This issue affected EAs with Graphical interfaces.
If set to "false", no template file will be saved or created. In this case, you need to keep your template updated manually. The indicator will only act as an identifier for the EA then.