MArket Wave EA is an Expert Adviser which is trend based and trades using multiple moving averages and Bollinger Band .
Signals are generated when there is intersection between multiple moving averages and Bollinger Bands.
Input Parameters
- Distance from the Highest Sell Allowed - If a sell signal comes, price must be above the highest open sell order, plus this distance in points (even higher)
- Distance from the Lowest Buy Allowed – If a buy signal comes, price must be below the lowest open buy order, minus this distance in points (even lower)
- Total Open Sells Allowed – Maximum number of open Sell Orders
- Total Open Buys Allowed – Maximum number of open Buy Orders
- Close on opposite signal ? – Enable to close all buy orders on a sell signal, and close all sell orders on a buy signal
- SL / TP Method :
- Static - Set SL to the level in “Stop Loss In Points” and TP to “Take Profit In Points”
- ATR – Set SL to the amount of ATR multiplied by “ATR/Moving Average Multiple, for SL” and TP to the amount of ATR multiplied by “ATR/Moving Average Multiple, for TP”
- Moving Averages – Set SL to the Distance of the smallest to the biggest MA, multiplied by “ATR/Moving Average Multiple, for SL”, and TP multiplied by “ATR/Moving Average Multiple,for TP”
- Bollinger Bands – Set SL to the upper BB for sells and the lower BB for buys, and TP to the lower BB for sells and the upper BB for buys
- ATR Period, for ATR Stops – Period for ATR if ATR for SL/TP is active
- Place System Stops ?(SL/TP) – if off, SL and TP are stealth
- Lot Calculation Method :
- Lot Value - Static Lot
- % of Equity – A % of the Equity that will be lost if SL is hit
- % of Balance – A % of the Balance that will be lost if SL is hit
- % of Free Margin – A % of the Free Margin that will be lost if SL is hit
- $ amount – The amount of money that will be lost if SL is hit
- Lot Value – Input for use with Static Lot
- i%R lost if SL is hit (for lots) – Input for use with %of Equity/Balance/Free Margin
- $ lost if SL is hit (for lots) – Input for use with $ amount
- Splits total (max20) – Split the Take Profit into more levels (the amount given here) Don’t set to 0
- Use Break Even ? – Enable or disable The Break Even mechanism
- Ticks in profit for application of Break Even - When this amount of points is reached in profit the Break Even is applied
- Trailing Method
- Standard - Classic Trailing with Trail Above level and Trail Distance
- Grid – Trailing on the TP’s that are produced by the Split input above
- Bar – Trailing in the Highs of previous bars for Sells and the Lows of previous bars for Buys
- Ma45 – Trailing on the Moving Average, period 45
- Ma100 – Trailing on the Moving Average, period 100
- Don’t Trail – No Trailing
- Standard Trailing Trail Above Ticks – Standard trailing, if this amount of points is crossed in a trade the trailing begins
- Standard Trailing Trail Distance - Standard trailing, the distance of the trail to the price in points
- Standard Trailing Acceleration – Speed of reduction of Trailing Distance with every new trail application
- Grid Trailing,Trail Above in Splits – After the amount of TP lines (from the Splits) is reached Grid Trailing begins
- Grid Trailing, Trail Distance in Splits – Distance behind price for Grid Trailing, given in amount of TP lines (from the Splits)
- Bar Trailing, Bars For SL Discovery – Bars to look back for Bar Trailing (to get the highest high, or lowest low)
- Kill TP on first Trail ? – if on, TP will be removed once the trailing begins
- Trail Only Above Risk: Reward Level – if enabled, trailing will only begin above a Reward level mentioned in “Trail above rr level 1:Reward - > enter reward”
- Only place Trail in profit area ? – Positive SL while trailing, only (if on)
- Close partial on Split levels ? – Partially close the trade on every TP line (from splits)
- Slippage Points Max – Maximum Slippage while entering trades
- Limit Spread ? – enable / disable max spread
- Maximum Spread Allowed (if the above setting is on) – Max spread value
Summary
- MArket Wave EA is a trend based EA that can be run on Forex, Indices and Stocks.
- Input parameters have to be optimized as per user need.
- Works on all timeframes.
