This tutorial applies to the EA ‘MACD Buying and selling MT5‘ whose product web page is accessible by clicking on the picture beneath:
This product means that you can obtain alerts and/or place orders in accordance with your MACD technique. The primary benefits of this EA are:
- It consists of further filters (transferring common, RSI and Pivot Factors filters).
- It has a whole administration of orders (break even, trailing cease, closing earlier than weekend, max misplaced or win / day …).
- It will probably work with all market watch symbols directly.
Under is the backtest of this EA for EURUSD (default settings) from 01/01/2020:
Detailed options are described on the product web page. Under is the checklist of EA settings with explanations.
-====Basic settings====-
Symbols: symbols for alerts & buying and selling (all or image on the chart)
There are a number of prospects to decide on which symbols needs to be scanned:
– ‘Solely image on the chart’ : you need to use this feature for backtests or if you wish to apply the bot on the chart image ;
– ‘All main foreign exchange pairs’ : the bot will scan all 28 main foreign exchange pairs (EUR/USD/GBP/CHF/AUD/NZD/JPY) ;
– ‘Market watch’ : the bot will scan all market watch symbols ;
– ‘Solely symbols listed beneath’ : solely symbols listed within the subject beneath shall be scanned
Symbols to scan or exclude: write right here symbols to scan (‘Solely symbols listed beneath’ mode) or to exclude (‘All main foreign exchange pairs’ and ‘Market watch’ mode)
Dealer prefix (if essential): just for brokers who use prefixes. For instance, sort m for mEURUSD
Dealer suffix (if essential): just for brokers who use prefixes. For instance, sort m for EURUSDm
If a number of symbols should be entered on this subject, they should be separated by commas
Use Timer: outline buying and selling days and hours
Orders will solely be opened on buying and selling days. Nonetheless, orders might be closed/modified even exterior of the established time if at the very least one of many following parameters is enabled:
– ‘Max % misplaced/day’ ;
– ‘Max % win/day’ ;
– ‘Shut earlier than weekend’ ;
– ‘Shut on reverse crossing’ ;
– ‘Shut order if value closes above/beneath a Ma’ ;
– ‘Break even’ ;
– ‘Trailing cease’.
Monday: alerts & buying and selling on Mondays
Tuesday: alerts & buying and selling on Tuesdays
Wednesday: alerts & buying and selling on Wednesdays
Thursday: alerts & buying and selling on Thursdays
Friday: alerts & buying and selling on Fridays
Saturday (crypto): alerts & buying and selling on Saturday (typically for crypto buying and selling)
Sunday (crypto): alerts & buying and selling on Sunday (typically for crypto buying and selling)
Begin time: begin of the session
Finish time: finish of the session
Indicators alerts: terminal and/or smartphone notifs
Buying and selling alerts: terminal and/or smartphone notifs
-====MACD settings====-
MACD Technique: the MACD technique used to obtain alerts and/or place orders
In the meanwhile, 2 methods can be found with the EA. Different methods shall be applied based mostly on buyer requests. The two methods are as follows:
– MACD crosses sign line:
-> Shopping for situation: the primary MACD line is beneath the zero line and it crosses the MACD sign line from backside to high
-> Promoting situation: the primary MACD line is above the zero line and it crosses the MACD sign line from high to backside
– MACD crosses zero:
-> Shopping for situation: the primary MACD line crosses the zero line from backside to high
-> Promoting situation: the primary MACD line crosses the zero line from high to backside
Various purchase and promote orders: avoids putting 2 consecutive purchase orders or 2 consecutive promote orders
Timeframe: all MT5 timeframes
Warning! If you wish to use the timeframe of the chart, use the worth “CURRENT”!
If you happen to use one other worth, the present chart timeframe won’t have an effect on the MACD calculation.
Quick interval of the MACD: interval for quick common calculation
Gradual interval of the MACD: interval for sluggish common calculation
Sign interval: interval of the MACD sign
MACD utilized value: CLOSE / OPEN / HIGH / LOW / MEDIAN / TYPICAL / WEIGHTED
-====Filters settings====-
-=Transferring common settings=-
Use a MA: checks if value is above (purchase sign) or beneath (promote sign) this MA
Ma timeframe: all MT5 timeframes
Ma interval: interval of the MA
Ma technique: SMA / EMA / SMMA / LWMA
Ma utilized value: CLOSE / OPEN / HIGH / LOW / MEDIAN / TYPICAL / WEIGHTED
Ma shift: shift of the MA
-=RSI settings=-
Use RSI: checks RSI worth earlier than opening an order
RSI Timeframe: all MT5 timeframes
RSI interval: interval of the RSI filter
RSI utilized value: CLOSE / OPEN / HIGH / LOW / MEDIAN / TYPICAL / WEIGHTED
RSI shift: shift of the RSI filter
Min RSI worth for a purchase order: purchase order is opened if RSI > this worth
Max RSI worth for a promote order: promote order is opened if RSI < this worth
-=Pivot factors settings=-
Day by day PP: checks if value is above (purchase sign) or beneath (promote sign) day by day PP
Weekly PP: checks if value is above (purchase sign) or beneath (promote sign) weekly PP
Month-to-month PP: an identical to the earlier parameter for month-to-month PP
Be aware: the extra filters applied, the less orders shall be opened. If you happen to discover that there aren’t sufficient open orders, strive disabling some filters.
-====Buying and selling settings====-
-=Basic settings=-
Enable buying and selling: if false, solely alerts are operational
Magic quantity: should be distinctive if different EA are operating
‘Max open orders’, ‘Max % misplaced/day’ and ‘Max % win/day’ are calculated from the magic quantity. For instance, when you have 3 EAs with the identical magic quantity, the entire variety of orders opened would be the sum of the orders opened in these 3 EAs.
Max open orders: max variety of orders opened concurrently (if 0, no max)
Max % misplaced/day: if max worth is reached, the EA open orders are closed and no different order is opened till the subsequent day (if 0, no max)
The calculation is predicated on account steadiness + open orders advantages. As a way to pace up the backtests, the calculation is completed each hour throughout backtests, as a substitute of each minute for an actual buying and selling session.
Max % win/day: if max worth is reached, the EA open orders are closed and no different order is opened till the subsequent day (if 0, no max)
Similar comment than for ‘Max % win/day’.
Max drawdown (in % of fairness): if max worth is reached, the EA open orders are closed and the EA is closed (if 0, no max)
Similar comment than for ‘Max % win/day’, however the calculation is completed each 5 minutes (for backtests and actual buying and selling periods).
Shut earlier than weekend: shut all EA orders on Friday
Closing time earlier than weekend: if ‘Shut earlier than weekend’ is ‘true’
Use cash administration: if ‘true’, lot measurement in % steadiness
Fastened heaps measurement: lot measurement per order (if ‘Use cash administration’ is ‘false’)
Lot measurement in %: % steadiness per order (if ‘Use cash administration’ is ‘true’)
Max unfold: max allowed unfold to open an order (if 0, no max unfold)
Warning: if the worth of the unfold is simply too low, no order shall be opened! To keep away from any drawback, it is strongly recommended to set the worth ‘0’ for the backtests.
Max slippage: max allowed slippage to open an order
Similar comment as ‘Max unfold’.
-=SL & TP settings=-
SL in pips, factors…: cease loss x pips above/beneath present value in ‘regular SL’ mode and above/beneath the chosen Ma in ‘Ma SL’ mode
TP in pips, factors…: take revenue x pips above/beneath the present value on the opening of the order whatever the ‘SL mode’ chosen
-=BE/TS/Grid settings=-
Break even: if ‘true’, break even is activated
Break even revenue in pips, factors…: triggers the break even from a sure revenue in pips, factors…
Trailing cease: if ‘true’, trailing cease is activated
Path revenue in pips, factors…: triggers the trailing cease from a sure revenue in pips, factors…
Path distance in pips, factors…: distance in pips, factors… between trailing cease and value
Path step in pips, factors…: step in pips, factors… for the trailing cease
Open further orders: a further order is opened every time the revenue reaches a step
Max further orders (by image) : ‘Open further orders’ should be ‘true’
It’s higher to have smaller heaps than for primary orders.
It’s higher to have smaller heaps than for primary orders.
Revenue step in pips, factors… to open a further order: every time the revenue reaches this step, a brand new order is opened
SL in pips, factors… of further orders: SL in pips, factors… of the extra orders
TP in pips, factors… of further orders: TP in pips, factors… of the extra orders
- Earlier than utilizing the ‘All main foreign exchange pairs’ mode, confirm that the 28 main foreign money pairs are current within the “Market Watch” tab of MT5.
- It is suggested to make use of multi-symbol mode for alerts solely. When a worthwhile technique is discovered on an emblem, it’s higher to use it in ‘only_symbol_on_the_chart’ mode.
- The EA works for every type of symbols however in some instances (relying on the dealer), diversifications on SL and TP need to be executed with sure forms of symbols (apart from foreign exchange and indices). On this case, settings in pips or factors need to be multiplied by 10 to match the right worth. Instance: for a cease lack of $10 on the Oil image the ‘SL in pips, factors…’ parameter should take the worth 100 and never 10 (x10). Exams might be carried out in backtest to seek out the precise worth.
Main foreign exchange pairs :
EURUSD / GBPUSD / USDCHF / AUDUSD / USDCAD / USDJPY / NZDUSD
EURGBP / EURCHF / EURAUD / EURCAD / EURJPY / EURNZD
GBPCHF / GBPAUD / GBPCAD / GBPJPY / GBPNZD
AUDCHF / CADCHF / CHFJPY / NZDCHF
AUDCAD / AUDJPY / AUDNZD
CADJPY / NZDCAD
NZDJPY
