“TraderEvolution” – A utility designed for merchants who use elliott wave and technical evaluation of their buying and selling. The utility contains two panels directly:
“Buying and selling Helper” – a panel for buying and selling and cash administration. It will probably work with pending and quick orders, and is provided with trailing cease, breakeven and take revenue features. “Elliott Wave Helper” is a panel that simplifies and hastens the development of wave and technical evaluation. Helps to construct all wave patterns, assist and resistance ranges, pattern strains and figures.
The utility is out there for each terminal variations:
Switching between panels is finished by clicking on the tabs:
MM Tab – Cash Administration and Buying and selling
The panel gives two methods of cash administration:
Mounted % Technique
Makes use of a sure proportion of danger per buying and selling operation. This methodology is lively by default. If it’s not lively, you’ll be able to allow it by clicking on the “%” button. No matter what Cease Loss measurement you’ve gotten, this system will all the time choose a buying and selling quantity, which, if the Cease Loss is triggered, will deliver you a loss within the proportion set on the panel (1% by default). Accordingly, the upper your Cease Loss degree is, the decrease the buying and selling quantity and vice versa.
By default, the chance is ready to 1% in this system panel. This proportion could be modified utilizing the up and down arrows.
Default proportion change step = 0.5. May be modified within the exterior parameters of the indicator. The “stepPercent” parameter is chargeable for this.
Buying and selling Lot
Implies using a predetermined buying and selling quantity. To activate this cash administration methodology, click on on the “Lot” button. The default quantity = 0.1 lot and could be modified utilizing the up and down arrows.
The lot change step could be modified within the exterior parameters of the indicator. The “stepLot” parameter is chargeable for this.
TakeProfit, Breakeven, Trailing Cease
“Breakeven” – chargeable for transferring a commerce to breakeven. As quickly as the worth strikes into the optimistic zone inside the vary allowed by the dealer, clicking on the “Breakeven” button will transfer your Cease Loss to the commerce opening degree.
“Trailing” – allows the “Trailing Cease” operate. When the worth passes a sure vary (for instance, 500 factors on the fifth image after the dot or 50 factors on the fourth image after the dot), the worth strikes to the commerce opening degree and strikes together with the worth because it strikes.
It is very important notice that for various foreign money pairs the trailing cease parameter have to be chosen individually, since completely different devices have completely different volatility. The scale of the trailing cease is decided by the “Trailing” parameter within the exterior parameters of the panel.
“TP” – chargeable for setting the “Take Revenue” order. The default ratio is 1 Cease Loss = 3 Take Revenue. If you click on on the “TP” button, Take Revenue might be set. The ratio of Cease Loss to Take Revenue could be modified utilizing the down and up arrows.
Commerce orders
The panel is able to opening each quick and pending orders. At present accessible:
Purchase Promote Purchase Cease Purchase Restrict Promote Cease Promote Restrict
If you don’t use pending orders in buying and selling, you’ll be able to take away it by clicking on the “PO” button within the higher left nook of the display screen. Within the instance beneath, I turned off pending orders and left solely quick ones.
The “Shut All” button is meant to shut all orders on the present chart, in addition to to delete all pending orders on the present chart.
Panel activation
As a way to activate the panel, you might want to click on on the big sq. button within the middle. After clicking it, two strains (orange and blue) will seem on the chart, and the unfold may also be displayed beneath the present value line.
Orange line – Potential Cease Loss degree for quick and pending orders. Have to be set the place you propose to put your Cease Loss degree.
Blue line – Degree of a possible pending order. It would not matter which one. Have to be set the place you’re going to place a pending order.
Info above the orange line
Above the orange line is details about a future quick order. From left to proper:
Lot – Lot for the present buying and selling operation $ – Danger within the deposit foreign money in {dollars} (danger as a proportion of the deposit) S/L – Cease Loss measurement in pips
Info beneath the orange line
Under the orange line is info on a future pending order. From left to proper:
Lot – Lot of the longer term pending order $ – Danger within the deposit foreign money in {dollars} (danger as a proportion of the deposit) S/L – Cease Loss measurement in factors for a pending order
Unfold
Under the present value line you’ll be able to see the unfold for the longer term buying and selling operation. It’s displayed in factors and in deposit foreign money (calculated primarily based on the lot worth of the quick order).
Opening a right away order
To open a right away order, you might want to drag the orange line to the extent of your future Cease Loss and click on on the “Purchase” or “Promote” button. If the road just isn’t lively (there are factors to the precise and left of it within the lively section), then you need to activate it by double-clicking on it with the left mouse button.
Under, utilizing the instance, I’ll open promote and purchase trades, having beforehand turned off pending orders. There is no such thing as a have to disable them. A right away order will work in any case.
Setting a pending order
To position a pending order, we want each strains: blue and orange.
Purchase Cease – transfer the blue line above the present value and the orange line beneath the blue one
Promote Cease – transfer the blue line beneath the present value and the orange line above the blue one.
Purchase Restrict – transfer the blue line beneath the present value, and the orange line beneath the blue one.
Promote Restrict – transfer the blue line above the present value, and the orange line above the blue one.
Safety system
By default, this system has a built-in safety system, the primary process of which is to stop you from opening positions with a big buying and selling quantity. If you want, you’ll be able to flip it off within the panel’s exterior parameters.
We carried out two restrictions:
By quantity (MaxLotValue) – Default worth is 1 lot. By danger proportion (MaxPercentValue) – Default worth is 10%.
If the safety system is turned on and also you violate the foundations (for instance, you open a commerce with a big lot or the chance on the commerce is greater than 10%), then this system won’t open the commerce and will provide you with a warning that the suitable dangers have been exceeded.
Automated buying and selling
Earlier than utilizing the panel, be sure that computerized buying and selling is enabled in your buying and selling terminal. It’s enabled in a different way within the fourth and fifth variations of the buying and selling terminal.
Model for MT5
Within the fifth model of the terminal, you might want to click on on the “Algo Buying and selling” button, then go to the panel properties and within the “Frequent” tab, examine the field subsequent to “Enable Algo Buying and selling”.
Model for MT4
Within the fourth model of the terminal, you might want to click on on the “Auto Buying and selling” button, then go to the properties of the advisor and examine the field subsequent to “Enable dwell buying and selling”.
EWA Tab – Making Wave and Technical Evaluation
Wave evaluation. Varieties of accessible patterns
Impulse(1-2-3-4-5) Zigzag/Flat(A-B-C) triangle(A-B-C-D-E) Double mixture(W-X-Y) Triple mixture(W-X-Y-X-Z)
Wave evaluation. Altering Sample
That is achieved by clicking on the down arrow within the drop-down menu.
Wave evaluation. Change of wave order
There are a complete of 9 wave orders, that are chargeable for the place of waves within the hierarchy and for his or her visible show. The down and up arrows situated to the left of the sample identify are chargeable for this. Between the arrows is the order quantity.
Selecting colours for patterns and features
To pick a shade, click on on the big rectangle after which choose from the accessible colours. The chosen shade will apply not solely to the letters and numbers representing wave patterns, but additionally to the degrees and features of technical evaluation.
Making of the wave analasis
As a way to construct a wave sample on the worth chart, you might want to click on on the sample button and activate it. After this, click on the required variety of occasions on the display screen and the sample will seem on the chart.
Wave evaluation. Font
By default the panel makes use of font measurement 12. You’ll be able to choose it from the drop down menu. You can even make the font daring if you want by urgent the “B” button.
Technical evaluation. Varieties of accessible parts
Phase – “Pattern” button Pattern line – “Pattern” button + pressed “R” button Help and resistance degree – “Horiz” button Rectangle – “Sq.” button. The pressed ‘BG‘ button paints the aspect Triangle – “Trianlge” button. The pressed ‘BG‘ button paints the aspect
As a way to choose one of many parts for development, click on on the drop-down menu, as proven within the image beneath:
Making of the technical evaluation
The making of technical evaluation parts differs from the making of elliott wave evaluation. As a way to construct a line or degree, maintain down the “Shift” key in your keyboard, after which click on on the worth chart.
Line or phase: Maintain Shift + 2 mouse clicks. 1 click on – the primary level, 2 clicks – the second level. Horizontal assist or resistance degree: Maintain Shift + 1 click on on the required degree. Rectangle: Maintain Shift + 2 clicks. 1 click on is the decrease left border of the rectangle, 2 clicks is the higher proper border (variable). Triangle: Maintain Shift + 3 clicks. Every click on is chargeable for the angle of the triangle.
Technical evaluation. Line sorts
The logic of line sort and thickness has been transferred from the buying and selling terminal. The road on the left is chargeable for the kind of line, the road on the precise is chargeable for its thickness. Impacts the phase, pattern line and assist or resistance degree.
Background and shade of rectangle and triangle
In contrast to the colour of letters, numbers and segments, the colour of a rectangle and triangle is configured within the exterior parameters of the indicator. The parameters “ColorTr” (triangle) and “ColorSq” (rectangle) are chargeable for this. The “BG” button is chargeable for portray over the figures.
Working with timeframes
By default, all parts of technical and wave evaluation are displayed solely on the timeframe on which you’re working. For instance, in case you are doing evaluation on a day by day chart, then all of the letters, numbers and features may also be displayed solely on the day by day chart.
In order for you your waves and technical evaluation to be displayed on a number of timeframes, then choose these timeframes within the panel choices earlier than beginning work. That is achieved by urgent the “TF” button, as indicated within the image beneath:
Exterior parameters
startCoordX – The place of the panel concerning the X axis startCoordY – Panel Y place maxLotValue – The utmost doable lot worth that this system opens maxPrcentValue – The utmost doable proportion of danger useRiskRounding – rounding the chance proportion values pendingOrder – Whether or not or to not use pending orders Deposit – Select between Deposit and Fairness to show on the panel stepPercent – Share step steplot – Lot step sippage – Slippage traling- Worth for trailing cease takeProfit – The ratio for the take revenue operate diapason – Deviation of order management strains from the present value showProfitLoss- Whether or not or to not show the present revenue on the precise above the order on the chart showSpread – Whether or not or to not show the present unfold above the present value colorTextSpread – Unfold show textual content movelinesAfterOpenOrder – Offset of order management strains after opening an order pipsspread – Line offset vary. resetHotKeys- Hotkeys for shifting order management strains positonTextOnLine – Place for textual content above the order management line InfoTextFont – The font for the textual content above the order management line. InfoTextFontsize – Font measurement for textual content above the order management line colorTextLine – Info shade for the quick order colorTextLinePending – Info shade for a pending order SLLineThick – Potential cease line thickness PendingLineThick – Line thickness of a possible pending order styleline – Potential cease line model styleLinePending – Line model of a possible pending order colerLine- Shade of the potential cease line colorLinePending – Line shade of a possible pending order colorTracing – Panel stroke shade colorTextBtn- The colour of the textual content on the panel colorFonButton – Panel background shade colorBack – Background shade of editable panel parts colorTextBack – Textual content shade of editable panel parts colorTracingPopup – Stroke dropdown menus colorTextBtnPopup – The textual content shade of the dropdown menus colorFonButtonPopup – Background shade of the dropdown menus isFontCircle – Whether or not or to not use the circle font objectAsBG- apply or not the background to the strains anchorCharacter – binding for characters Selectbutton – Hotkey for drawing strains and shapes colotTr – Triangle shade colorSq – Shade of the rectangle Creator: Siarhei Vashchylka. For any questions, write to me in personal messages. I additionally suggest subscribing to my updates. To do that, observe the hyperlink to my profile and click on “Add to buddies“.