Pattern 123 Zig Zag
- Visually draws in real time on the current chart:
- Pattern 123, built on given input parameters;
- level of expected breakdown;
- level of estimated take profit;
- input signal line.
- You can use a fixed transaction volume.
- The volume of each transaction can be calculated automatically, depending on the variable "Risk Equity (%)" set in the input parameters.
- The choice of the type of trade or work only as an indicator.
- Choice of execution type:
- pending stop orders.
- The choice of the type of use of the level of loss (stop loss):
- the price of point number 3 Pattern 123.
- The choice of the type of profit level use (take profit):
- calculation for Pattern 123.
- You can set the parameters for the Pattern 123 search:
- time period and variable Depth of the ZigZag indicator on which Pattern 123 will be searched;
- allowable shoulder level [2, 3], on the size of the shoulder [1,2].
- Trading in a given period of time.
- Closing positions and orders by time every day.
- You can use a grid trading strategy.
- There is a trailing of positions on the High \ Low level of the previous candle or on the Parabolic SAR indicator.
- There is trailing and closing positions in terms of money.
- Balance recovery mode in case of loss.
- The magic number - the EA’s identification number can be -1 (minus one), 0, or any positive number.
- If "The magic number" is equal to zero, then the EA will consider all open or placed orders manually as its own.
- If "The magic number" is -1 (minus one), then all open or set orders manually or by another adviser, the adviser will consider them to be his own.
- Allowed to open orders - type of trade from the proposed options:
- No permission to open orders - placing orders is not allowed. It can be used as an indicator;
- Only Buy - only a buy order is allowed;
- Only Sell - only a sell order is allowed;
- Buy & Sell - placing orders for both buy and sell is allowed.
- Type of execution - select the type of execution from the proposed options:
- Instant / Market Execution - immediate;
- Pending Order Stop - pending stop orders.
- Fixed lot (volume) - volume of the placed order.
- If "Fixed lot (volume)" is equal to zero, then the calculation of the volume of the placed order will be calculated automatically, depending on the variable "Risk Equity (%)" set in the input parameters.
- When "Fixed lot (volume)" is greater than zero, the parameter "Risk Equity (%)" becomes inactive. And the volume of placed orders will be fixed.
- Risk Equity (%) - the allowable risk per transaction as a percentage of the available funds in the account. With increasing risk, profit increases, but also drawdown also increases.
- StopLoss Type - type of use of the loss level (stop loss):
- No Stop Loss - no stop loss;
- Number - uses the value "StopLoss Number"
- StopLoss Number - level in points;
- Point # 3 - the price of point number 3 of pattern 123;
- Point # 1 - the price of point number 1 of pattern 123.
- TakeProfit Type - type of use of profit level (take profit)
- No TakeProfit - no take profit;
- Number - the value "TakeProfit Number" is used
- TakeProfit Number - level in points;
- Calculated level - calculated value = point 3 (price) +/- (distance between points 1 and 2 * "Level to calculate TakeProfit")
- Level to calculate TakeProfit - a number from 0.001 (it is possible to use Fibonacci levels: 1.000, 1.236, 1.382, 1.618, 1.764, 2.000, etc.)
- ZigZag Time Frames - time period of the ZigZag indicator, on which the pattern will be searched.
- ZigZag Depth - Variable Depth of the ZigZag indicator, a value from 5 to 50.
- Minimum level 2-3, size 1-2 - the minimum acceptable level of the shoulder [2, 3], from the size of the shoulder [1,2]. A number from 0.001 to 0.999.
- Maximum level 2-3, size 1-2 - the maximum allowable shoulder level [2, 3], from the size of the shoulder [1,2]. A number from 0.001 to 0.999.
Have questions or have ideas for improving this advisor, do not hesitate to contact .
A more detailed description is here .
The results and settings of the strategy tester are here .
In the stop loss menu, in the "StopLoss Type" section, you can now select a stop from "point #1".
The error occurred only when using a grid based on Fibo levels .
Levels are created relative to the shoulder 2-3.
Levels can be changed by the user.
Added the ability to adjust the stop loss level
(if you are using Point #3 for stop-loss ).
The adjustment value can be added or subtracted.
The adjustment values are separate for BUY and separate for SELL.
Added trailing stop on Parabolic SAR indicator.
"Display information = true" - display information.
"Display information = false" - do not display information.