Electra EA ** Released to Elite Members ** - page 24

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It is complicated for me as well.

Some information is on this post https://www.mql5.com/en/forum/178788

Thus, Electra is some kind of price crossing MA indicator for M5, M15, H1 and H4 timeframes in some kind of algorithm.[/CODE]
if (Close1 > MA1) {M5_Trend="UP";}

if (Close1 < MA1) {M5_Trend="DW";}[/CODE]

It is from this my post.

As to closing the trades ...

Some explanation from the author is on this post (concerning partial closing). And this post concerning ATRTakeProfit, ATRStoploss, and ATRPartialClose.

Look at this code. It is Breakeven, trailing stop and stop loss:

[CODE]BreakevenPips=NormalizeDouble(RAvg*ATRBreakeven,0);

TrailStep=NormalizeDouble(RAvg*ATRTrailStep,0);

if (ATRStoploss!=0)

{

stoploss=NormalizeDouble(RAvg*ATRStoploss,0);

And there are some settings inside EA.

And there are profit level 1, profit level 2, profit level 3 and profit level 4. It is for partial close. For example, EA opens the trade by 0.04 lot size so if first profit level rich so EA will close 0.01 lot, next profit level so EA will close the other 0.01 lot. We will have 0.02 and next level and so on. Partial closing the trades.

And the same with stop loss (4 stop loss levels for 1 single trade).

As to ATR so it may be related to this code:

[CODE]int DinamicRangeCalculation()

{

D1Bars=iBars(Symbol(),1440);

ATRDays=DaysATR;

if(D1Bars<ATRDays) ATRDays=D1Bars;

if (ATRDays<10) {return(RAvg);}

RAvg=0;

int i=0;

i=1;for(;;)

{

i++;

RAvg=RAvg+(iHigh(NULL,PERIOD_D1,i)-iLow(NULL,PERIOD_D1,i))/Point;

if (i>ATRDays) break;

}

RAvg = RAvg/ATRDays;

RAvgTXT="\n"+ATRDays+" days Average Day Range: " +RAvg+ "\n";

return(RAvg);

}

So, may be this ATR is ATR indicator on D1 timeframe with period 20?

Inside the code I see the following:

ATRBreakeven = 1; // ATR need to move SL to breakeven.

TRPartialClose = 4; // After this ATR We will look to start taking partial profits

ATRStoploss = 1.5; // Our SL is this Number * ATR

UsePartialExit = 1; // If =1 we take Partial TPs, If =0 Only one Exit.

and this one related to ATR (20 by default):

DaysATR =20; // Days to take the Average Daily Range

We can not see stop loss in Metatrader because of the following:

UseHiddenSL = True; // With this function you can hide the SL to your Broker.

And concerning the settings:

PrefSettings = True; // If true we take the settings from the Init Function

What is Enit Function?

It is inside the code and settings for every pair. So, if PrefSettings = True so the settings are the following (see inside the code in MetaEditor:

if((Symbol() == "AUDCAD") || (Symbol() == "AUDCADm"))

{

ATRBreakeven =1;

ATRPartialClose =4;

ATRStoploss =1.5;

}

if((Symbol() == "AUDCHF") || (Symbol() == "AUDCHFm"))

{

ATRBreakeven =1;

ATRPartialClose =4;

ATRStoploss =1.5;

}

if((Symbol() == "AUDJPY") || (Symbol() == "AUDJPYm"))

{

ATRBreakeven =1;

ATRPartialClose =3;

ATRStoploss =1;

}

if((Symbol() == "AUDNZD") || (Symbol() == "AUDNZDm"))

{

ATRBreakeven =1;

ATRPartialClose =3;

ATRStoploss =1;

and so on ...

Sorry ... this code of this EA is complicated for me.

Files:
electra1_3010_1.jpg  198 kb
electra1_3010_2.jpg  96 kb
 

I can access Electra reports, but not EA

Can someone please help me?

Thanks

 

Can not find EA?

It is on the 1st post of the thread.

File name: Electra v1.11.mq4

Right mouse click on this file, than select 'Save as' and that's all.

 

Thank You NewDigital!

I am very new to all of this; and to forums in general. I have become fascinated with forex over the past couple of months. Forex TSD is a great site and this forum is awesome. My thanks to everyone, especially the developers, for sharing their insight and work!

 

"Insufficient money to safety trade this pair"

ND--

I tried to open this EA on an Alpari demo with approx. $25K and I get this quote, "insufficient money to safely trade this pair . . ."

I only have one pair EUR/USD and I read earlier posts that indicated that it would work with $800, I thought.

Is it that it will work and this is just a warning, or will trading be disabled somehow?

Can I modify settings somehow to allow it to work?

Thanks

Chili

 
Chilibowl:
ND--

I tried to open this EA on an Alpari demo with approx. $25K and I get this quote, "insufficient money to safely trade this pair . . ."

I only have one pair EUR/USD and I read earlier posts that indicated that it would work with $800, I thought.

Is it that it will work and this is just a warning, or will trading be disabled somehow?

Can I modify settings somehow to allow it to work?

Thanks

Chili

This question has been answered on the thread several times.

One of many is here: https://www.mql5.com/en/forum/178196/page11

 

Hi Chilibowl,

If I remember it is something with MM or risk, or automated money management. For EA, EA decided to open one trade by 0.1 lot size. But according to EA's evaluation so EA can open the trade not more than 0.07 lot size. So, EA is writing this case on the chart (you should see something written concerning lot size and so on) and typing about "insufficient money ... ".

But to know exactly please read the thread from the beginning as it was asked few times already.

 

MM and lost size

New Digital--

Thanks. . . I will get it read, but have been incredibly busy. I have a lot of trading and stock market exp., but am a complete newbie to MT4, and just need to get read-up. I have printed a manual. I love the Elite Section, but have a lot of catch-up to do. So much is over my head and I need to keep from clogging-up the Elite Section boards with elementary questions.

I really got off on the wrong foot with commercial EAs and have made a thousand mistakes, but you people and this board are great and I am learning so much. The EAs here are a hundred times better! And so is the explanation dialogue and communication.

THanks again

 

Hi Chilibowl,

What I am doing is ... I am connecting elite section EAs with RAS service. So, in the future (hope: in the near future) we all can trade them. Some EAs were connected already. I think all things will be much easy with RAS.\

 

Because, for example, Alpha with RSI settings 19 pairs are very profitable now. Electra EA is profitable for some pairs (not for all the pairs). And, if the developers will improve RAS website statistics so we can see the profitable pairs, drawdown and so on and we can select something very easy.

I am not posting so much in elite section now because very busy with RAS, besides - all the statements/performance will be posted during the weekend (tomorrow) as usually.

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