The principle objective of this weblog is to explain and clarify the enter parameters of my Divergence Knowledgeable Advisor for MT5 (free model / paid model).
Please try my different divergence merchandise for MT5:Divergence indicator, Double divergence scanner, Divergence dashboard
That is an out-of-the-box product which is able to usually not be modified based mostly on request from a single buyer. Please due to this fact first learn this weblog to the top and/or obtain a demo and take a look at the EA within the technique tester as a way to perceive what it might and can’t do.
Every time there may be an out there replace of the EA I like to recommend you to attend with updating till all open positions by the EA have been closed. You’ll be able to replace it with out eradicating the earlier model from the chart. Earlier than updating I additionally recomend to show off AutoTrading and after the replace please management that the enter parameters haven’t modified on every chart the place the EA is loaded. Then you possibly can activate AutoTrading once more.
I strongly suggest you to do your personal backtesting and advantageous tuning within the technique tester earlier than beginning to commerce on a dwell account. That is legitimate additionally should you determine to make use of the .set (preset) recordsdata which you’ll obtain on the finish of this weblog. You will need to use the ‘Each tick based mostly on actual ticks’ modelling possibility in MT5 if you’re utilizing settings the place intracandle actions are concerned, resembling trailing cease. If not then it’s sufficient with ‘1 minute OHLC’ modelling. Please keep in mind that previous efficiency isn’t a assure of future profitability and that the optimized backtest outcomes can not present a practical prediction of future profitability. Sign monitoring right here.
Enter parameters
Parameters marked with an asterix (*) at first are solely out there within the free model and two asterisks (**) means out there solely within the paid model.
GENERAL SETTINGS * Ship alert as an alternative of opening commerce – When set to ‘true’ an alert can be despatched as an alternative of opening a commerce. ** EA mode – Listing field with the next picks: Commerce usually Ship alert as an alternative of opening commerce – Will alert a few commerce oppurtunity as an alternative of opening the commerce. Pause EA – Will completely pause the EA. Present orders won’t be modified in case break even, trailing cease and many others. has been enabled. ** Multi image mode – Listing field with the next picks: Disabled – The EA will solely commerce the present chart image. Market Watch – All seen symbols within the Market Watch window. Symbols from enter parameter – Symbols given within the ‘Symbols to commerce’ enter parameter beneath. Presets from folder – Symbols from preset recordsdata chosen in a dialog field. These presets should exist instantly below the Recordsdata folder, or in a subfolder to Recordsdata. Every preset file should comprise the identify of the image based on how it’s written within the Market Watch window. Parameters marked with blue textual content are parameters which can be used from preset recordsdata when you will have chosen this selection. The opposite parameters vill be taken from the EA. Presets by choice – Symbols from all present preset recordsdata in a predefined folder (given within the ‘Preset recordsdata folder…’ enter parameter beneath). These presets should exist instantly below the Recordsdata folder, or in a subfolder to Recordsdata. Every preset file should comprise the identify of the image based on how it’s written within the Market Watch window. Parameters marked with blue textual content are parameters which can be used from preset recordsdata when you will have chosen this selection. The opposite parameters vill be taken from the EA. ** Symbols to commerce – These symbols can be used when the ‘Symbols from enter parameter’ Multi image mode has been chosen above. The symbols have to be comma separated and visual within the Market Watch window. ** Preset recordsdata folder (have to be subfolder below Recordsdata) – All preset recordsdata on this folder can be loaded when the ‘Presets from folder’ Multi image mode has been chosen above. ADR interval (days) – Common every day vary over the previous xx days. Default is 60. ** Occasion handler on minute candle as an alternative of tick – ‘true’ or ‘false’. If set to True then the testing can be faster within the technique tester however much less correct in case you might be utilizing settings which concerned intracandle actions. For example trailing cease. TREND FILTER SETTINGS Development filter to make use of – Listing field from the place you possibly can choose RSI, Bollinger or Stochastics. The pattern filter can be used with reversal logic, therefore the value should have reached for instance RSI 70, or the bollinger higher bands to ensure that a brief (bearish) commerce to be opened. Measure pattern filter on first extremum – True or False. Stochastics/RSI overbought stage – The divergence candle should kind above this stage as a way to be legitimate. Stochastics/RSI oversold stage – The divergence candle should kind beneath this stage as a way to be legitimate. Bollinger shift Bollinger deviation Development interval (default 20 for Bollinger) ADX stage ADX interval Value sort Timeframe – if set to ‘present’ then the chart time-frame can be used. In any other case the chosen time-frame can be used for calculating the the pattern indicator values. GENERAL DIVERGENCE SETTINGS Important oscillator Allow divergences – a listing of 5 oscillators/indicators which you’ll choose from in case you have set Important oscillator to Multi mode. Quantity of concurrent divergences to search for (if Multi mode) Timeframe for subsequent divergence(s) – Default is present. This setting can be used if Quantity of concurrent divergences above is ready to > 1. If as an illustration you commerce on a M30 chart and alter this setting from present to H1 then the subsequent divergence(s) should happen on the H1 time-frame. *** for the subsequent model this can even apply if single mode and the worth is ready to one thing else than present. Instance: the EA is setup to commerce MACD divergences. The chart time-frame is H1 and the worth right here is H4. On this case there have to be a MACD divergence on H1 and H4 on the similar time. Divergence candle shift – Set to 2 or larger for a stronger affirmation of the attainable reversal/pattern continuation (confirmed divergence). By having it set to 1 you’ll catch the attainable motion earlier (unconfirmed/pending divergence). However, the sign is much less dependable. You may as well set it to 0 for catching “early” divergences. Because of this the alert will come instantly upon candle open as an alternative of ready for the slope within the indicator to alter route (candle shift 1 or 2), which signifies that the value should present not less than some signal of reversal. Please remember although that this can result in extra false alerts. Bars to verify (divergence depth) – Bars again in time to verify for divergence. Min. bars to verify (0=disabled) Ignore wicks on divergence candles – Divergence can be based mostly on open/shut worth as an alternative of excessive/low worth. REGULAR DIVERGENCE SETTINGS (pattern reversal) Commerce common – True or False. Use pattern filter – True or False. Use ADX – The ADX worth have to be beneath the extent you will have set. Use shifting common filter – When enabled then the worth have to be above/beneath the MA worth for the interval you will have set within the enter parameter below the ‘MOVING AVERAGE (MA) FILTER SETTINGS’ part. HIDDEN DIVERGENCE SETTINGS (pattern continuation) Commerce hidden – True or False. Use pattern filter – True or False. Use ADX – The ADX worth have to be above the extent you will have set. Use shifting common filter – When enabled then the value have to be above/beneath the MA worth for the interval you will have set within the enter parameter below the ‘MOVING AVERAGE (MA) FILTER SETTINGS’ part. TRADING FILTERS Open purchase order – True or False. Open promote order – True or False. Most allowed slippage in factors – Please notice that not all brokers/account varieties help slippage management. Most allowed open/shut unfold in factors (0 = not used) – Will be set to keep away from taking trades with excessive unfold instantly after midnight market opening or at information releases. Helpful for these with variable spreads. The default settings of fifty is for currencies. Bars to attend for subsequent commerce – Default is 1 which signifies that the EA can commerce once more (if no open orders) on the bar following the bar the place the final commerce was closed. Setting it to 0 signifies that a brand new commerce can be opened instantly after the earlier has been closed (if there may be nonetheless a legitimate sign). Allow us to take the instance that we have now this setting set to 1. If we as an illustration had an order on a H1 chart which was closed at 13:10 then, in case there’s a new divergence sign, a brand new order won’t be opened instantly at 13:10 however at 14:00. Should you had it set to 2 then at 15:00 and so forth. The unique thought with this setting was when utilizing the EA for scalping (small and fast income). On this case it’ll fairly often come to the situation that the EA will open and shut (with revenue) the order on the identical bar. We would then wish to keep away from opening one other order once more on the identical bar. * Allow commerce time filter (your dealer’s server time) – Time filter for opening trades. * Commerce from/to time – Hour and minutes from/to. * Cease time Friday (hh:MM, 00:00=disabled) – Hour and minut when to cease commerce on a Friday. ** Begin hour [0-23] ** Begin minute [0-59] ** Cease hour [0-23] ** Cease minute [0-59] ** Cease time Friday (-1=disabled) Quantity common interval (0=quantity filter disabled) Quantity over common (%) MONEY MANAGEMENT (ranges are in factors) Danger in share (>0 = auto lot) – If set to 0 the Handbook tons worth can be used. If set to > 0 then the EA will use cash administration if mixed with a cease loss. The account free margin (within the deposit forex) is used for the danger calculation. The danger calculation won’t work correctly with metals and indices. Please use a guide lot if you’re expertise issues. Handbook tons – Might be used if Danger above is ready to 0. ** Enable just one order per image and route – Set to True and you’ll by no means danger that as an illustration {that a} second promote order can be opened for the chart image. Helpful if you’re buying and selling the identical image on a number of charts and with totally different magic numbers. It’s attainable to allow this on a worldwide stage by altering it on one place solely. It is going to then be legitimate for all charts in a Metatrader occasion the place the EA has been loaded. Hit F3 on the keyboard and alter the worth of the ‘TripleMA-OneOrder’ world variable from 0 to 1. To ensure that this to work the order remark should comprise the phrase ‘Triple’. ** Max. open positions (0=disabled) – Set to as an illustration 5 and you’ll by no means danger that the EA could have greater than 5 lively trades. Helpful in case you have the EA working on a number of charts and want to scale back the danger. It’s attainable to allow this on a worldwide stage by altering it on one place solely. It is going to then be legitimate for all charts in a Metatrader occasion the place the EA has been loaded. Hit F3 on the keyboard and alter the worth of the ‘TripleMA-MaxOrders’ world variable from 0 to a hihger worth. To ensure that this to work the order remark should comprise the phrase ‘Triple’. ** Cease buying and selling when Fairness decreased (0=disabled) – won’t open any new orders if the fairness is decreased by this quantity. Should you put as an illustration 1000 and your present steadiness is 4000 then the EA won’t open new trades in case your fairness goes beneath 3000. ** Cease buying and selling when Free margin beneath (0=disabled) – won’t open any new orders if the free margin goes beneath this quantity. ** Orders with this Magic quantity (0=all) – With the default worth (67) the EA will solely verify open order the place the Magic quantity begins with 67. So in case you have different EAs working with open orders then they won’t be considered. ** Shut orders – If set to True then all orders, the place the magic quantity begins with the worth you will have set above, can be closed instantly when the max worth has been reached. POSITION MANAGEMENT (ranges are in factors) Kind of cease loss/exit – Listing field with the next picks: Fastened At divergence candle excessive/low – Cease loss can be set at candle excessive/low + the quantity of factors that you’ve got specified within the ‘ Offset in factors…’ parameter. ATR SL – The present (shut worth of divergence candle) ATR stage multiplied with the worth you will have set beneath within the ‘Multiplier for cease loss’ parameter below the ATR SETTINGS part. Fastened cease loss (<0 = ADR %) – When a damaging (minus) worth can be put right here then the ADR% logic can be used. Take revenue methodology – Listing field with the next picks: Fastened take revenue Trailing cease – begins to path when revenue>=0 ATR trailing cease ATR TP Danger/Reward (based mostly on SL) Fastened take revenue (<0 = ADR %) – When a damaging (minus) worth can be put right here then the ADR% logic can be used. Values which work for many pairs are -15 for H1, -25 for H4 and -40 for D1. Trailing cease (<0 = ADR %) – Will path the cease loss consistently with the gap you will have set as quickly because the commerce is in revenue. When a damaging (minus) worth can be put right here then the ADR% logic can be used. Traling cease won’t work correctly when utilizing the Shut half possibility. Trailing step – If the trailing step is ready to 0 then the trailing cease can be adjusted every 2nd second. Else the trailing cease can be adjusted each time the value has moved the quantity of factors you will have set right here. Danger/Reward ratio – It’s good to set the “Take revenue methodology” parameter to Danger/Reward to ensure that this worth to have any impact. You want additionally to set “Kind of cease loss/exit” to Fastened and a hard and fast cease loss worth. A cease loss worth of 200 factors and a R/R ratio of 1.5 would imply that the take revenue stage can be routinely set to 300 factors when an order is opened. Break-even (0 = disabled) Break-even set off – The value has to achieve this stage (calculated from the opening worth) to ensure that the break-even to be set. Offset (<0=ADR%, >0=factors, 0=disabled) – Further distance for for the cease loss (if it has been set to ‘At divergence candle excessive/low’). CLOSE HALF SETTINGS Shut half place – Combo field with the picks beneath. Please guarantee that your account helps half shut of orders earlier than you utilize this selection. Disabled – Default worth. ATR – The present (shut worth of divergence candle) ATR stage multiplied with the worth you will have set beneath within the ‘Multiplier for shut half’ parameter below the ATR SETTINGS part. When you will have set this selection then a line exhibiting the extent can be drawn on the chart. At first TP stage – If you choose this selection additionally, you will have to regulate the worth within the ‘First TP stage…’ parameter beneath. Transfer to break-even after shut half – True or False. First TP stage for Shut half (<0 = ADR %) ATR SETTINGS Interval Value sort – Choose from Excessive/low, Median or Shut. Multiplier for take revenue and shut half Multiplier for cease loss MACD AND OsMA SETTINGS Quick MA – Default is 12 Gradual MA – Default is 26 Sign MA – Default is 9 STOCHASTIC SETTINGS Ok D Slowing MA methodology: Default is ‘Easy’ (SMA). Value sort ** Overbought/oversold filter offset (0=disabled) – Set to for instace 10 signifies that the divergence should happen if the stochastics worth is above 90 for promote commerce or beneath 10 for a purchase commerce to be legitimate. CCI AND RSI SETTINGS MOVING AVERAGE (MA) FILTER SETTINGS Gradual MA Quick MA (0 = disabled) Gradual/quick MA methodology – Default is Easy (SMA). Gradual/quick MA worth sort – Default is Shut. MA time-frame – It is strongly recommended to set this to 1 time-frame larger than the divergence time-frame. ** HULL MOVING AVERAGE (HMA) FILTER SETTINGS Interval – Shifting common interval. Pace – Smoothening ratio. Candle shift – Default is 1. Will be set to 0 to catch the colour change one candle earlier (unconfirmed sign). OBJECTS Draw divergence strains on predominant chart – True or False. When set to True the EA will draw the divergence strains on the primary (worth) chart. Draw TP1 ranges on chart Present divergence indicator window – True or False. When set to True the EA add the at present used divergence oscillator as an indicator window on the chart. Please notice although that the divergence strains won’t be drawn on this window. Present data panel on chart Varied coloration settings for the data panel TP1 line coloration TP1 line thickness Clear objects – True or False. When set to True the EA will delete the divergence strains on the chart every time the EA is reinitilized. ALERTS (if alert as an alternative of commerce is enabled) Set to ‘true’ for every alert sort you want to activate. Magic quantity – If utilizing the EA on the identical image on a number of charts (usually with totally different time frames, or similar time-frame however one chart buying and selling Hidden solely and one other buying and selling Common solely) then it is crucial that the Magic quantity parameter has a special worth. If not then trades on the identical image will intervene with eachother. Order remark – This parameter isn’t used. The remark can be set routinely. For example “Reg [divergence indicator] M30” or “Reg [first indicator]/[second indicator]/[third indicator] M30” in case you have set ‘Quantity of concurrent divergences to search for’ larger than 1. The quantity of characters within the order remark is by design restricted to 32. So in case you have set this to a worth larger than as an illustration 4 then the textual content within the order remark can be reduce at 32 characters. By some brokers it’d even come be empty.