That is the guide for the Zone Commerce EA accessible right here: https://www.mql5.com/en/market/product/127753
The EA is a guide buying and selling software for trades to mechanically take trades at help and resistance or provide and demand zones utilizing value motion entries inside these areas. It’s designed for use as a place buying and selling software that means there aren’t any mounted cease losses used. Trades that work out are merely banked and the revenue taken, commerce that don’t work out are changed into place trades utilizing DCA scaling in methods to regulate the typical value degree, the goal zone is then adjusted to the subsequent logical space value will goal above the typical value.
Really helpful timeframes to be traded are the hourly timeframe and above as that is meant as a swing buying and selling software/technique, however you possibly can use the EA on any timeframe. Simply remember the decrease you go the extra “chop” you’ll expertise in day by day market motion and the much less dependable buying and selling zones will turn into.
The EA has a number of options which will probably be lined right here and can also be designed for use as a coaching software within the technique tester in MT4 so you possibly can observe buying and selling zone bounces and place buying and selling methods to hone your expertise at figuring out apparent ranges to commerce from and in direction of.
WHAT THE BUTTONS DO
Every button has a selected operate designed to can help you both draw zones or shut present trades you could have open.
The purchase and promote restrict buttons when pressed will place the zone above or beneath present value and offset the closest fringe of the zone no matter you could have enter because the a number of of ATR away from present value. Hitting this once more if a zone is in place will mechanically reset the zone to the identical distance it was initially drawn. If a zone has been disabled because it’s already been traded and also you desire a new dwell zone drawn you merely hit the button once more.
BUY LIMIT – It will place the purchase zone beneath the present value
SELL LIMIT – It will place the promote zone above the present value
CLOSE – It will shut ALL trades which can be open on the instrument you might be buying and selling
CL OLD – It will shut the OLDEST commerce on the instrument you might be buying and selling. Used for drawdown management when a place could also be pushing towards you and also you wish to scale out of the older components of the place and take a loss on these trades
USE IN THE STRATEGY TESTER
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USE IN LIVE TRADING
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INPUTS EXPLAINED
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EA works when bars shut (false = on each tick) – This quickens again testing and ensures calculations and test for value targets are executed solely when candles shut, not on each tick. For dwell buying and selling, it’s your decision this to work on tick, however not vital.
All the time In Mode (Exit when reverse zone trades) – When set to true, the EA will shut lengthy trades when a promote zone is reached and value triggers and entry after which mechanically get into a brief commerce so you might be “at all times in” a commerce in a single route or the opposite. Reverse performance for brief trades. When you set this to false, the EA will simply exit the present commerce(s) when the zone is reached and value motion triggers however not enter a brand new commerce in the other way.
Prolong zones if value exceeds them (deletes if false) – If set to true when value reaches a zone and a candle closes the alternative aspect of a block (goes by means of it) the EA will mechanically develop the scale of the zone to incorporate the candle that closed outdoors the zone. Then anticipate value motion to reverse to take a commerce. When you set this to false and value goes by means of a zone with no sign, the EA will delete the zone and wait so that you can draw a brand new one.
Zone width in candles – That is the width of the zone the EA attracts on the chart, counted in variety of candles again from present value.
Zone top as ATR proportion – That is the peak of the zone drawn with the buttons as a proportion of the ATR setting you employ (inputs beneath) and it is advisable to make use of the day by day timeframe (ADR – common day by day vary) for this which the EA is ready to as default.
Zone distance from present value as ATR proportion – That is how distant from present value as a proportion of the ATR determine you employ to attract the closest fringe of the zone. Set this to one thing that you realize value won’t attain rapidly relying on the timeframe you might be buying and selling on. Round 1/4 of ADR is an efficient degree initially to provide you loads of time to regulate the zone earlier than value strikes into it.
**** PRICE ACTION SIGNALS ****
Enter if piercing into zone – For a promote zone the final closed candle should have a excessive above the low of the zone and the shut of the candle beneath the low of the zone. Reverse for a purchase zone.
Enter if open inside and shut outdoors zone – For a promote zone the final closed candle should have the open above the low of the zone and the shut of the candle beneath the low of the zone. Reverse for a purchase zone.
Enter on value motion inside zone – For a promote zone the final closed candle should have the open above the low of the zone and the shut of the candle additionally above the low of the zone. Reverse for a purchase zone.
**** RISK SETTINGS ****
Quantity to danger over 1 ATR (0 = use tons) – If NOT set to 0 this would be the amount of cash the EA dangers over 1 measurement of the ATR you could have chosen within the inputs beneath. It is suggested to make use of ADR (day by day vary) as this ensures your trades have room to breathe. When set to 0 the EA will default to utilizing a hard and fast lot measurement.
Fastened lot measurement for first commerce – That is the preliminary lot measurement the EA will use to commerce with.
Martingale lot multiplier for extra trades (tons solely) – That is the multiplier to extend extra trades taken ready by. e.g. in case your preliminary commerce is 1.00 lot and also you set this to 1.5 then your second commerce will probably be taken at 1.50 tons. The following at 2.25 and so forth till all trades in a single route are closed out both manually with the buttons or by hitting the alternative zone. This solely works when mounted tons are chosen as an alternative of financial danger.
Min distance between entries as a number of of ATR – That is the minimal spacing between every commerce and the EA won’t commerce if the candle closes inside this distance. Ideally you’d use a proportion of ADR (common day by day vary) to area your trades out so there may be not an excessive amount of drawdown however your common value can also be not saved too distant. The EA will draw this degree on the chart to assist you in inserting your subsequent zone for extra entries outsize this space. A visible warning is displayed on the chart if the zone you could have drawn is just too shut. Somethere between 0.5 and 1 ADR are good guides for buying and selling day by day ranges utilizing H1 timeframe and above.
**** ATR CALCULATIONS ****
ATR timframe – That is the ATR timeframe used for all ATR calculations for distancing, trailing cease and danger within the EA. The default is day by day so the EA makes use of ADR (common day by day vary) as a information for spacing and danger parameters.
ATR interval – That is the variety of intervals (candles) again to calculate the ATR. If utilizing day by day something from 2 weeks to a couple months is an efficient measure to information you as to what the instrument you might be buying and selling strikes each day. The upper the quantity the extra smoothed and fewer change you will notice within the calculation and ranges/danger getting used.
**** TRAILING STOP LOSS ****
Exit utilizing a trailing cease primarily based on ATR – If set to true every particular person commerce will begin to path a cease loss both on tick or candle shut (primarily based on the enter in predominant settings) utilizing no matter inputs you employ beneath.
A number of of ATR for trailing cease – This can be a a number of of the ATR determine you employ (ADR really helpful) so as to add and path a cease by as value strikes in your route.
A number of of ATR to start out trailing cease – The trailing cease won’t begin till value has moved this far into revenue. Ideally set each of those to the identical setting to permit your commerce room to breathe.
Path cease loss to breakeven solely – If set to true the EA will cease trailing as soon as the cease is above your entry value. NOTE: If utilizing candle shut this will lock in revenue for you additionally relying on the scale of the candle that closed above your entry.
**** EXIT AT END OF DAY OR CANDLE ****
Exit trades at set time day by day – When set to true the EA will mechanically shut out your trades at a set time. That is helpful for these buying and selling intraday on decrease timeframes that don’t wish to maintain in a single day.
Time on chart to shut trades at day by day – Enter the time you need the EA to shut your positions if the above is ready to true. Format is HH:MM, e.g. 22:30 can be 10:30pm.
Exit trades at shut of candle on particular timeframe – If set to true the EA will test on the shut of each candle on the timeframe you select and shut trades.
Timeframe to exit trades at candle shut – Choose the timeframe you wish to shut commerce on if the above is ready to true.
Solely exit if trades are in revenue – If set to true the above choices for closing trades will solely occur if a selected revenue quantity has been reached. This enter is especially helpful for scalping methods and lets you set and overlook the EA and take no matter revenue is accessible each hour or 4 hour interval.
Minimal revenue to shut at – That is the amount of cash you prefer to as a MINIMUM when the candle time or finish of day time above is reached.
**** EXIT AT MONEY TARGET AMOUNTS ****
Exit at an amount of cash in revenue – If set to true the EA will monitor your open trades and mechanically shut them out individually if they’re above the set quantity. That is used for closing losses in addition to earnings.
Amount of cash to exit commerce in revenue – Enter the amount of cash in revenue for a person commerce to be closed out at.
Amount of cash to exit commerce in loss (- neg quantity) – Enter the amount of cash in loss for a person commerce to be closed out at. NOTE: This ought to be entered as a damaging quantity. e.g. -200 will shut out when you find yourself 200 in drawdown on the commerce.
**** EXIT AFTER AMOUNT OF TIME ****
Exit after a set period of time passes – If set to true particular person trades will probably be closed out after they’ve been open for a selected period of time. That is helpful for exiting trades that stagnate and the specified motion or motion has not occurred inside a set time.
NOTE: use just one and essentially the most related to the timeframe you might be buying and selling on.
Variety of days – Variety of days to exit
Variety of hours – Variety of hours to exit
Variety of minutes – Variety of minutes to exit
**** TRADING TIMES ****
Use a time of day filter to restrict opening trades – If set to true the EA will solely open new trades inside these occasions. That is designed to cease the EA taking entries throughout in a single day swap intervals when the unfold can get extraordinarily giant and slippage can happen attributable to low liquidity. You may also use this to solely commerce throughout sure market classes.
Time on chart to start out monitoring for brand new entries – Time to start out buying and selling within the format HH:MM
Time on chart to cease monitoring for brand new entries – Time to cease buying and selling within the format HH:MM
**** DRAWING & COLOURS ****
Present revenue & ATR knowledge on chart – When true shows the ATR, spacing, account steadiness and open revenue knowledge within the prime proper of the chart
Show swap knowledge on chart – When true will present the swap price data for the instrument being traded. Holding swing positions for lengthy intervals can turn into pricey so it’s possible you’ll wish to use this to determine on a bias to commerce the instrument
Most damaging swap you deem too costly to commerce – If the above is true that is the utmost damaging swap which determines if the information shows nearly as good or unhealthy. This doesn’t have an effect on buying and selling executed with the EA. Enter as a damaging quantity, e.g. -5.50
Week begin line color – The color of the vertical line displayed firstly of the week. That is notably helpful within the technique tester so you possibly can simply see time handed in positions to situation your self to how lengthy trades might absorb dwell buying and selling. Set to none if you wish to conceal this
Width of weekly begin line – Width of the above line
Zone buttons textual content color – Color for the textual content displayed on the purchase and promote zone buttons
Promote color – Color of the promote parts on the chart together with the typical line, textual content, subsequent entry line and the button itself
Purchase color – Color of the purchase parts on the chart together with the typical line, textual content, subsequent entry line and the button itself
Shut buttons color – Color of the shut buttons
Traded zone color – Color a zone turns as soon as it has been traded
Present earlier weekly ranges – Show the newest weekly ranges in your chart, that is the weekly excessive and low and sometimes value reacts round these ranges.
Variety of earlier ranges to attract – The variety of earlier weekly ranges to indicate on the chart
Delete drawn objects when EA eliminated – If set to true the Ea will mechanically take away all parts it creates when it’s faraway from the chart. That is useful to show to false when within the tester so you possibly can see revenue data and parts created whereas testing.
Textual content offset in hours to proper of present candle – What number of hours sooner or later from present value the labels are shifted to the correct for the typical value and subsequent entry textual content.
Magic Quantity – Can be utilized to permit the Ea to take over trades you might have positioned with different EAs ot in case you use this similar EA on multiple occasion of the identical instrument.