This stategy is based on the strategy posted here.
However, there are some differences. I am not going to try to explain all of them here in the first post just a few that are on my mind.... it is designed to be traded on multiple pairs.
1. It typically should only enter a break away trade only if the price has retraced to the 5SMA price open line first in any given week.
2. The EA supports 20 pairs. If you put the EA on an unsupported pair it will tell you on the chart if it is unsupported.
3. There is a mechanism that looks to close in profit via time and certain thresholds.
4. The stop loss isn't hard coded into your platform terminal (on the order itself). The stop is a Ghost Stop that is visible on the chart and requires internet connection at all times. There are reasons for this that I'm not going to get into here.
5. Time Frame: Currently there is no restriction... you can place EA on any time frame.
6. Money management is turned on... however this will only work with micro lot and nano lot brokers. If you trade with micro lot broker then set AccountIsMicro = 1 in console. If you have IBFX account set IB_Lots = 1.
Only one of these should be 0 the other one should be set to 1 unless you are trading with MM set to 0... per guidelines below.
If your micro lot broker does not describe micro lots being anything other than 0.1 you will not be able to use money management properly. So you will need to shut it off. To do this just select money management in the console and set to 0. Set Lots in the console to what size you wish your lots to be. If you do this set up properly you will get screens similar to that of below that will show the lot size you selected.
Or in the event that you are using money management your lotsize will be determined automatically based upon your account size and some simple math done by the EA.
7. EURUSD must be one of the pairs you select to trade. Minimum you need to trade at least 2 pairs. One of them must be EURUSD to work properly.
8. This EA is capable of setting up to 5 trades per pair at any one time. If you are trading all 20 pairs that is up to 100 possible trades at one time... with that said:
DO NOT TRADE THIS ON LIVE ACCOUNT UNTIL YOU ARE SURE YOU REALIZE WHAT THE EA IS CAPABLE OF DOING.
If you want this work continued with updates:
You can help by posting bugs with screen shots preferably. Be as descriptive as possible. It's not easy writing an EA and it can be even harder finding bugs. Please keep that in mind when you post.
However, there are some differences. I am not going to try to explain all of them here in the first post just a few that are on my mind.... it is designed to be traded on multiple pairs.
1. It typically should only enter a break away trade only if the price has retraced to the 5SMA price open line first in any given week.
2. The EA supports 20 pairs. If you put the EA on an unsupported pair it will tell you on the chart if it is unsupported.
3. There is a mechanism that looks to close in profit via time and certain thresholds.
4. The stop loss isn't hard coded into your platform terminal (on the order itself). The stop is a Ghost Stop that is visible on the chart and requires internet connection at all times. There are reasons for this that I'm not going to get into here.
5. Time Frame: Currently there is no restriction... you can place EA on any time frame.
6. Money management is turned on... however this will only work with micro lot and nano lot brokers. If you trade with micro lot broker then set AccountIsMicro = 1 in console. If you have IBFX account set IB_Lots = 1.
Only one of these should be 0 the other one should be set to 1 unless you are trading with MM set to 0... per guidelines below.
If your micro lot broker does not describe micro lots being anything other than 0.1 you will not be able to use money management properly. So you will need to shut it off. To do this just select money management in the console and set to 0. Set Lots in the console to what size you wish your lots to be. If you do this set up properly you will get screens similar to that of below that will show the lot size you selected.
Or in the event that you are using money management your lotsize will be determined automatically based upon your account size and some simple math done by the EA.
7. EURUSD must be one of the pairs you select to trade. Minimum you need to trade at least 2 pairs. One of them must be EURUSD to work properly.
8. This EA is capable of setting up to 5 trades per pair at any one time. If you are trading all 20 pairs that is up to 100 possible trades at one time... with that said:
DO NOT TRADE THIS ON LIVE ACCOUNT UNTIL YOU ARE SURE YOU REALIZE WHAT THE EA IS CAPABLE OF DOING.
If you want this work continued with updates:
You can help by posting bugs with screen shots preferably. Be as descriptive as possible. It's not easy writing an EA and it can be even harder finding bugs. Please keep that in mind when you post.
Attached File(s)
Contraband.ex4
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245 downloads
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Uploaded Jan 21, 2012 3:30pm