Taranus Light is lite version of the universal assistant for traders, the Taranus EA for Forex. Taranus Light uses only market orders. Management of the Expert Advisors is similar, at the same time the peculiarity of trading market orders provides the trader with new possibilities and allows using new strategies. The EA is suitable for both experienced and novice traders.
Features of Taranus Light
- Only works with market orders.
- Orders are opened only after the closure of the previous bar Close.
- It can work based on one Moving Average (МА) or two МАs.
- Two filters for determining the trend direction - Auto_Trend 1 and Auto_Trend 2.
- You can manually set trading in one direction - either Buy or Sell.
- There are trade levels, which can be used for trading both the breakouts and rebounds.
- Two types of trailing stop: conventional trailing stop and mobile stop loss.
- Trailing stop can operate in four modes: by points, by High/Low, by fractals, by volumes.
- Trailing stop by volume for the opened positions.
- Closing orders when the specified percentage of profit/loss is reached.
- Multiple instances of the Taranus_Light EA can work for overall profit and considering the total loss.
- Opening and closing orders by time (days, hours, minutes, seconds).
- Works on accounts with 4- and 5-digit quotes.
- Currency of the current account can be either US dollars (USD) or Russian rubles (RUR).
Block 1 «GENERAL SETTINGS»
- Magic Number - if multiple experts work on the account simultaneously, set an individual magic number for each of them.
- Positions - select the trading direction: Long&Short, Long or Short.
- Close, if the Profit! - if the Profit value is positive, the EA will close all orders and stop its operation.
- Close by Stops! - the EA will ignore indicator signals and close all positions only by stop loss or take profit.
Block 2 «RISK MANAGEMENT»
- AutoStop - automatic calculation of stop loss and take profit based on the market volatility.
- Coefficient for AutoStop - coefficient 1 means values of the ATR (14) indicator on Н1.
- Take Profit - take profit value.
- Stop Loss - stop loss value.
- Lots - fixed lot size.
- Risk in % - AutoLot calculation - automatic calculation of lot size.
- Profit in % - profit percentage by equity, when reached the EA will close all positions and stop its operation.
- Loss in % - limitation on loss percentage by equity, when reached the EA will close all positions and stop its operation.
- Gross Profit - when the gross profit percentage is reached, all positions on the account will be closed and all EAs will stop their operation.
- Gross Loss - when the gross loss percentage is reached, all positions on the account will be closed and all EAs will stop their operation.
- New Start upon opening bar - start of a new operation cycle of the EA, and recalculation of new profit and loss values.
- Slippage - slippage in points.
Block 3 «THE TREND» - select the trend direction.
- AutoTrend 1 - automatic detection of the trend direction using the Moving Average (MA).
- Timeframe for AutoTrend 1 - timeframe to determine the trend.
- Slowdown AutoTrend 1 - slowing of the indicator (sensitivity setting).
- Period trend MA - period of the trend moving average.
- Shift trend MA - shift of the trend moving average.
- Type trend MA - calculation method of the moving average.
- Price for trend MA - applied price for the moving average.
- AutoTrend 2 - automatic detection of the trend direction using Awesome Oscillator and Parabolic SAR.
- Timeframe for AutoTrend 2 - timeframe to determine the trend.
- Step Parabolic SAR - step of Parabolic SAR;
- Maximum Parabolic SAR – maximum of Parabolic SAR.
The complete guide to the Taranus Light EA, the .set files and templates can be found in the Comments section.
1. in the automatic calculation of the lot size;
2. in the operation of the trading levels;
3. in display of the information on the chart.
2. Added AutoStop - setting the stop loss and take profit levels automatically depending on the market volatility based on the ATR indicator.
53. Autolot is now based on Balance and not on Equity as it was before.
4. Implemented additional "slowing" parameter for AutoTrend 1 - indicator sensitivity level, the higher the value the slower AutoTrend 1 reacts.
5. Two types of trailing stop: conventional and mobile stop loss.
6. Four trailing stop modes: by points, by High/Low, by fractals and by volumes.
7. The EA is now allowed to open market orders when all indicators are disabled and when only one direction is selected (Long or Short).
8. Added the ability to open orders with only AutoTrend 1 active and when a single trading direction is set (Long or Short).
9. Added a lower arrow pointer to the chart (for "Indicators: and "Trading levels"), which shows the direction of the open order. If there are no open orders the arrow is located horizontally.
10. Added a caption near to the lower arrow, which shows the indicator the EA currently uses for operation.
11. Significantly increased the visualization speed in the strategy tester.