Settings | Blau_DTI Indicator | User guide | Support |
Japanese candlestick patterns trading: 30 patterns, 3 indicators, EA can open and close trades with reference to the events of the Economic calendar.
With the default settings EA opens trades only for passing automatic testing.
RECOMMENDATIONS
- Leverage: not higher than 1:50
- Account: only with hedging
- Broker time: GMT+3
- Timeframe: M5,M15,M30,D1; not recommended H1
- Currency pairs: USDJPY,AUDCAD,EURCHF,EURJPY; with caution - EURUSD,GBPUSD,USDCHF,EURGB,NZDUSD; risky - USDCAD,AUDUSD,GBPCAD,GBPJPY
- With minimal risks ("Risk of all positions opened by this instance" <= 5) I recommend using on one account at the same time no more than 10 set files for every $1000 deposit. Of course, we are talking about stategies that do not generate many trades. Be sure to use the "Minimum margin level" parameter.
- EA should always be online
Group "Patterns Testing"
When "Testing patterns one at a time per iteration" parameter is enabled, we work only with the pattern set by "Pattern" parameter in the trading direction set by "Direction of trade" parameter.Group "Common settings"
"Maximum of pips distance between equal prices" – has a huge impact on the quantity and quality of recognizable patterns.
"Magic Number" – unique number.
"Save Economic Calendar" – allows you to save the economic calendar to a file for further use in the strategy tester. Attention! If this option is enabled, Expert saves the calendar to a file and exits! Just open any chart, drag EA onto it, enable this option (do not touch the other settings), click OK, wait for the message that the calendar is loaded. This procedure must be performed at least once a month.
Attention! "Symbol" and "Timeframe" are checked at the Expert initialization stage and should match the schedule or strategy tester settings.Group "Risk management"
"Number of extra trades" – number of extra trades, 5 by default, which means no more than 6 open positions.
"Lots" – fixed lot trading, 0.01 by default.
"Risk per trade" – risk per trade, as a percentage of equity. In order to use " Risk per trade" parameter, " Lots" should be set to 0.
"Risk of all positions opened by this instance" – total risk for all positions opened by this instance, including the forthcoming one. Attention! Only trades opened with the above "Magic Number " are taken into account.
"Minimum margin level" – the minimum margin level below which EA does not open new trades.Group "Trading settings"
Group "Trading time settings"
"Direction of trade" – direction of trade.
"Daily ATR period" - the averaging period of the ATR(D1) indicator, recommended values 3..7, when using (> 0) - it is necessary to set Stop loss and Take profit as a percentage of daily ATR and set the correct values of the parameters "Minimum SL in points","Maximum SL in points","Minimum TP in points","Maximum TP in points".
"Daily ATR operation mode" - recommended value "Last Value".
"SL and TP range mode" - recommended value "Allow with boundary values".
"SL in points OR as a percentage of daily ATR" – stop loss in points OR as a percentage of daily ATR.
"Minimum SL in points" - minimum stop loss in points.
"Maximum SL in points" - maximum stop loss in points.
"TP in points OR as a percentage of daily ATR" – take profit in points OR as a percentage of daily ATR.
"Minimum TP in points" - minimum take profit in points.
"Maximum TP in points" - maximum take profit in points.
"TP decrease start in hours bars" – decrease TP after the set number of hour bars.
"TP decrease interval in hours bars" – interval for repeated TP decreases.
"TP decrease range percent" – percentage that determines the range within which TP (or TP in points) can be decreased.
"TP decrease current price location" – coefficient that determines the current price position. The best price from the range set by "TP decrease range percent" will be accepted as new TP for the period from the last TP change only under the following conditions:
- the current price for the past period visited the range set by "TP decrease range percent" ,
- the current price is at the moment beyond the set range: "TP decrease range percent" * "TP decrease current price location",
- if the option of TP increase according to the calendar events is not used.
"Slippage of price" – allowable slippage in points.
"Maximum spread in points" – maximum allowable spread, is used only for position opening. We don’t check the spread when closing the positions.
Group "Trailing Stop settings"
"Start delay in hours bars" – delay when switching on trailing stop (in H1 bars).
"Price level" – the level of the current price relative to the opening and TP prices, as a condition for activating the trailing stop.
"Distance" – the distance from the current price to SL in points (> 150) or as a percentage of daily ATR (checked once a minute).
"Minimum distance in points" - minimum distance from the current price to SL in points.
"Maximum distance in points" - the maximum distance from the current price to SL in points.
"Change the distance after the start" - if "Daily ATR period" > 0 and "Distance" in the range [1..150], then the distance to the stop for the FIRST time will be calculated as a percentage of the value of daily ATR at any value of this parameter. In the following days, the distance to the stop can be recalculated depending on the specific value of this parameter.
"Minimum step in points" - minimum SL change step in points, 0 - automatic mode (minimum step is equal to three current spread)
"Freeze hours" - the freezing hours of the trailing stop in the form of a comma-separated list
"Freeze hour" - the hour of freezing the trailing stop (to search in the Strategy Tester)
"Waiting time in minutes" – waiting time in minutes between pattern detection and position opening.
"Trading Start Hour" – trading start hour.
"Trading Start Minute" – trading start minute.
"Trading Stop Hour" – trading stop hour.
"Trading Stop Minute" – trading stop minute.
"Monday trading allowed" – Monday trading allowed.
"Tuesday trading allowed" – Tuesday trading allowed.
"Wednesday trading allowed" – Wednesday trading allowed.
"Thursday trading allowed" – Thursday trading allowed.
"Friday trading allowed" – Friday trading allowed.
"Month" - trading is allowed only in the specified month.
"Positions life time in hours bars" – position life time in hour bars.
"Positions closing hour" – close all the positions at the set hour.
"Positions closing hour on Friday" – close all the positions at the set hour on Friday.
"At what minute of the hour to close positions" – at what minute of the hour to close positions, is used together with the three above parameters.
"Price level to close positions" - the level of the current price relative to the opening prices and TP (>= 0) or the opening prices and SL (<0), as a PREREQUISITE for closing a position.Group "Economic Calendar to open positions"
"Use Economic Calendar to open positions" - on/off.
"Currencies separated by commas" - event filter by currencies, if more than one - separated by commas, if the line is empty - currencies from the current pair are used.
"Calendar Event Importance" - filter by event importance.
"Time before event in minutes" - time before the event in minutes.
"Time after event in minutes" – time after an event in minutes.
"Time near event in minutes (temporarily block)" - time before and after the event in minutes when trading is prohibited.
"Events text filter" – text filter by keywords, if more than one – separated by commas.
"Events keyword" – is more often used in the tester to assess the influence of some events, the previous parameter MUST be empty.
The principle of the calendar for position opening: we look for patterns and open trades only in the "Event Window".Group "Economic Calendar to stop trading/close positions"
"Use Economic Calendar to stop trading/close positions " – on/off.
"Operating mode" – operating mode: suspend trading, close positions, suspend trading and close positions.
"Currencies separated by commas" – event filter by currencies, if more than one – separated by commas, if the line is empty – currencies from the current pair are used.
"Calendar Event Importance" – filter by event importance.
"Time before event in minutes" – time before an event in minutes.
"Price level before event" – filter by current price position relative to the opening prices, SL and TP. Value -101 or less closes all positions, if the value is 101 or more – it increases TP for the "Event Window" time, and then returns the old TP or closes the position if the price has improved. E.g. if the value is 130, TP will be increased by 30 percent from TP in points. Attention! If this option is enabled, it is strictly forbidden to change TP by hand. It will lead to an unpredictable change in TP.
"Time after event in minutes" – time after the event in minutes.
"Price level after event with positive fact" – position filter by the current price position relative to the opening prices and TP. Positions close upon reaching the specified level after the event occurrence if the actual value turned out to be better than the predicted one of if the value is not provided for by the event type.
"Price level after event with negative fact" – position filter by the current price position relative to the opening prices and TP. Positions close upon reaching the specified level after the event occurrence if the actual value turned out to be worse than the predicted one.
"Positions type" - filter by position type (values make sense: Buy, Sell, Both)
"Events text filter" – text filter by keywords, if more than one – separated by commas.
"Events keyword" – is more often used in the tester to assess the influence of some events, the previous parameter MUST be empty.
Group "Indicators Bears and Bulls"
"Use Indicators Bears and Bulls" – on/off.
"Buffer size " – buffer size (number of values for each indicator).
"Averaging period" – averaging period.
"Additional advantage of Bears or Bulls" – additional advantage upon comparison (if 0 – lust more is enough).
"Direction of trade in the balance of Bears and Bulls " – direction of trades for balance.
"TimeFrame" – timeframe.
The principle of operation – we count the number of bull values of "Bulls" indicator and compare it with the number of bear values of "Bears" indicator.Group "Indicator Blau_DTI"
"Use Indicator Blau_DTI" – on/off.
"Buffer size " – buffer size (number of indicator values).
"Momentum period", "EMA1 period", "EMA2 period", "EMA3 period" – indicator settings, don’t have to be changed as a rule.
"High level, Low level" – high and low levels, sometimes require correction.
"Direction of the curve ratio" – ratio that allows you to distinguish a flat from a directional movement of the indicator curve. 0.75 is recommended.
"Timeframe " – timeframe.
Then we set the trade direction according to the indicator:
"Higher than High level, the curve is moving down" – higher than High level, the indicator curve is moving down (and 11 more same parameters).
Blau_DTI indicator, William Blau directional trend index ( https://www.mql5.com/en/code/384 ), should be downloaded and installed, otherwise Expert won’t launch if " Use Indicator Blau_DTI" parameter is enabled .Group "Patterns"
You need to set the trading direction for each of the 30 patterns that you want to use. For convenience, all patterns are numbered.Start of work.
It is necessary to download the economic calendar for the strategy tester (temporarily enable "Save Economic Calendar" parameter), download and install Blau_DTI indicator.For strategy tester settings:
- obligatorily write swap in points for each pair and fee, if any, according to the trading terms of your forex dealer
- modeling – necessary and sufficient – OHLC on M1, don’t tick because the swap will not be calculated
- sufficient starting deposit for minimum lot trading with account of the number of simultaneously open positions, a wrong deposit amount will hinder the adequate assessment of drawdown and margin level
- obligatorily specify the trading leverage of your real account on which you are going to use the developed strategy
