Envelope 2.11 - page 45
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This EA looks promising, made a few trades all profitable.
It has even recovered losses from other poor performing EA's using the same account.
Will defo continue forward testing this EA.
Spoke too soon I guess.
A few REALLY bad trades nearly blown a $1,000.00 account - a $600.00 loss!
However, I was using Envelope 2.11, it could have been the reason I guess.
I've upgraded to Envelope 2.13 and started testing on 4 pairs on new demo $1,000.00 account.
I'm wondering if someone can explein me the following:
I'm guessing that Envelope works by identifying Support and Resistance levels and places sell/buy stop orders near them.
What really puzzles me is why it places sell stop orders at resistance levels and buy stop orders at support levels.
Should it not be the other way around?
because when price hits Support/Resistance it's likely to revert.
Anyone?
Envelope EA is working on breakout of Envelopes indicator's lines. 3 Envelopes indicators (standard indicator in Metatrader) with different settings - means 3 buy stop orders and 3 sell stop orders.
Of course, as every breakout EA so this EA is working good in some particular market condition. It is profitable in long run (1 year for example). But deposit should be big even for 0.01 lot size ... as 3 orders can be 3 lossing trades very easy.
Envelope EA is very old EA working based on 1 standard indicator only.
...Should it not be the other way around? because when price hits Support/Resistance it's likely to revert.
Other way?
Other way is Breakeven parameter in EA.
But anyway, we will start to modify many EAs for elite section soon so this EA will be modified as well.
Because Envelope EA is old classical EA. Very simple and very old. I mean: there are many modifications but the logic of this EA was never changed - trade on breakout only without reversal and so on.
Other way?
Other way is Breakeven parameter in EA.
But anyway, we will start to modify many EAs for elite section soon so this EA will be modified as well.
Because Envelope EA is old classical EA. Very simple and very old. I mean: there are many modifications but the logic of this EA was never changed - trade on breakout only without reversal and so on.I understand that is a breakout EA now.
It might not be good for $1000 and 0.1 lot then!
Latest version of this EA (version 2.14 if I remember) did +1,592 pips (in Metatrader) and +1.594 pips (with RAS) for this week. For EURUSD.
Just to compare.
newdigital, I have Envelope 2.13.1, but my lots always stay at .01, no matter what number I change the lots to. Is there a way to change the lots with this EA? Thanks for your help.
Look at this EA's settings: in the end you will find:
PrefSettings = True.
What is PrefSettings?
It is the settings of this EA which was hard coded.
Now open this EA in MetaEditor and you can see this PrefSettings for every pair. It is 0.01 lot size.
So,
- change pref settings inside the code (place in MetaEditor your lot size instead of 0.01 and compile);
or
- change PrefSettings to False (in EA's settings) and use your lot size in the settings of the EA.
envelope ea
1/ where to download latest envelope 2.14 version ?
2/ I did not get 1000 ++ pips on my demo MT4 trader for last week of march .
I got less then 100 pips for the week . what setting use and what version use ?
3/ I am elite member - where to subscribe to envelope EA on RAS and other EA on RAS ? what are the EA running on RAS ?
Latest version is Envelope 2.13.1
1.14 is slightly modified for RAS purposes and you can trade it with RAS (combined 2 timeframes all together and trading EURUSD pair only).