Description :
Cool EA MT5 is a simple Expert Advisor based on Cool Indicator MT5 . The Indicator is incorporated in the EA, thus, you don't need it as a separate tool for the EA to operate.
Cool Indicator MT5 is based on Williams' Percent Range (%R) and Average True Range (ATR) and can be dowloaded for free from my product page .
The Expert Advisor settings are as follows :
The parameters below can be set according to your trading rules.
- StopLoss ( Stop Loss in points )
- TakeProfit ( Take Profit in points )
- TrailingStop ( Trailing Stop in points )
- TrailingStep ( Trailing Step in points)
- Magic number ( set to 966125, is the EA identifier. When running multiple instances of the same EA on one currency pair, this value should be changed for each instance )
- TradeSize : 1.0 ( Trade size )
- MaxSlippage : ( set to 30, and will be adjusted by the Expert Advisor )
- MaxOpenTrades : 1 ( Maximum open trades per currency pair )
- Hedging : true ( Hedging mode, set to true )
Some clarification to remember :
For 5-digit brokers : 1 Point=0.00001 and 1 Pip=0.0001 => 10 Points=1 Pip
For 4-digit brokers : 1 Point=0.0001 and 1 Pip=0.0001 => 1Points=1Pip
If your account type is Netting then set Hedging mode to false.
