RedeeCash Multime XMA
- Experts
- Patrick Odonnell Ingle
- Version: 1.40
- Updated: 25 May 2023
Crossing Moving Averages on Multiple Timeframes.
While a traditional trend strategy would be to choose one time frame like the Daily to estimate trend, this expert advisor will open a trade in the direction of the trend when ALL timeframes from 5M to Monthly, show the same trend.
SINGLE_CURRENCY = true, permits operations on a single currency, when disabled (FALSE), will trade the currencies selected in the market watch window on metatrader.
CONCURRENT_ORDERS=0, restricts the number of multiple orders from being opened concurrently.
PIPS=100, the profit PIPS
WAIT_TIME=1000, time in milliseconds, which specify the delay between expert advisor operations.
DODDFRANK_COMPLAINCE = false, if trading on a US-based account, you will need to enable FIFO to prevent receiving FIFO violations?
LOTS=-1, When the LOTs parameter is less than zero (or negative), the lot size is calculated using the internal algorithm based on 0.01 lots per every $100 USD of account equity (not balance). If the Account Currency is NOT USD, then the Account Equity is converted to USD for calculation (v1.30)
MAX_AUTOLOTS_TRADE=2, the maximum trades that will use the AUTO LOTS algorithm with LOTS=-1
MAX_BROKER_LOTS=100, the maximum lots your broker permits, as MarketInfo(Symbol(),MODE_MAXLOTS) may return a value larger than your broker will permit.
when LOTS=0, will fail the trade (like testing on a live account without risking funds, trade results saved in the log files),
When LOTS > 0 will override the algorithm without an error checking and send the lots in the order trade.
The lot size is calculated based on 0.01 lots per every $100 of account equity (not balance).
SENTIMENT=0|1|2, method to obtain market/symbol sentiment (0=MYFXBOOK,1=OANDA ORDERBOOK,2=OANDA POSITIONBOOK), OANDA sentiment is the average of the buckets long and short count.
USE_GITPAGES=false, when set to true will use the static files available at github.com/pingleware/pingleware.github.io (updated each hour after the start of the next trading session NY, London, Sydney and Tokyo)
MYFXBOOK_SESSION="", is the session variable return from [email]&password=[password], which is used to invoke a WebRequest method to [session]. You must add the URL to the Tools|Options\Expert Advisrs|Allow WebRequest to listed URL. LEAVE EMPTY TO IGNORE SENTIMENT ANALYSIS.
OANDA_HOSTNAME="", the host name for either live or practice OANDA V2.0 API
OANDA_TOKEN="", the API token for either live or practice.
MAX_SENTIMENT_PERCENTAGE=75, this up to the maximum short and long percentage that will permit a short or long trade. If the long|short percentage is this value or higher the long|short trade will NOT be sent. See the attached Youtube video that explains sentiment trading.
SYMBOL_SUFFIX="", MyFxBook uses six character symbols, you broker may add a suffix to the symbol. In order to match the global variables of the sentiment analysis long and short percentages, a suffix may be needed?
IMPORTANT:
BEFORE YOU ATTACH THIS EXPERT ADVISOR TO A CHART, you must select the currencies pairs that you want to trade in the Market Watch, because this EA is architecture to use the metatrader SymbolsTotals and SymbolsName functions to obtain a list of tradeable currency pairs, so you only need to attach this EA to a single chart and trade multiple currency pairs. YOU DO NOT NEED TO ATTACH THIS EA TO EACH CHART OF THE DESIRED TRADEABLE CURRENCY PAIR.
RISK WARNING:
DRAWDOWN COULD EXCEED 50% OF BALANCE.
LIVE EXAMPLE:
The following public signal at https://www.mql5.com/en/signals/1623053 and https://www.mql5.com/en/signals/1697630 uses the production version of the RedeeCash Multime XMA expert advisor. A hypothetical example (DEMO ACCOUNT) when account reaches $1,000,000 balance at https://www.mql5.com/en/signals/1749330. A live example of a signal which took a loss and built back up the account without any additional deposits, https://www.mql5.com/en/signals/1614372, and took another loss on 11/11/2022 when the CPI was lower than expected.
RECOMMENDATION(S):
Set the CONCURRENT_ORDERS parameter to 0 (zero), which will only permit one trade open at a time when the AUTO LOTS feature is ENABLED (LOTS=-1) to prevent early margin calls that would deplete profits
