Take a Break Indicator
- Индикаторы
- Eric Emmrich
- Версия: 3.0
- Обновлено: 13 августа 2024
FREE indicator for my trading utility Take a Break.
This indicator allows you to manage multiple other EAs with just one Take a Break EA instance.
Simply specify the corresponding Chart Group in the indicator(s) and Take a Break EA settings and you are good to go.
Setup examples (Indicator + EA)
As a prerequisite, add the URL https://trading.custom-solutions.it to the list of allowed WebRequest URLs (press CTRL+O, tab "Expert Advisors").
Basic/auto setup (1 TaB EA for managing all charts/EAs)
You want 1 Take a Break EA to manage all other charts/EAs, using the same filter settings for news, drawdown etc for all of them:
- Add the indicator with default settings to all charts that should be managed by the Take a Break EA (those with the EAs to pause).
- Add the Take a Break a Break EA with default settings to any M1 chart.
Advanced setup* (1 TaB EA for managing some charts/EAs only)
You want 1 Take a Break EA to manage only 2 other charts/EAs on EURUSD and GBPUSD, using specific filter settings for news, drawdown etc only for these 2 charts/EAs:
- Add the indicator to the EURUSD chart, either with default settings or specify EURUSD explicitly as the Chart Group.
- Add the indicator to the GBPUSD chart, either with default settings or specify GBPUSD explicitly as the Chart Group.
- Add the Take a Break a Break EA to any M1 chart and specify EURUSD,GBPUSD in the parameter Which Chart Groups should be managed?.
That's it! Take a Break will now take care of your other EAs by applying the filter settings you defined.
* Note that only the paid version gives you full flexibility to set up multiple TaB EAs with different filter settings for different charts/EAs.
Parameters (excerpt)
- Recreate default templates?: Only applicable to "Template type to create" = "Trade IS allowed". If you use the default, auto-created templates for "Trading is NOT allowed" and "Profit/Loss Limit reached" and want them to use the latest settings of the "Trade IS allowed" template (e.g. after you changed the "Label Color"), you can recreate these template types by enabling this option. Note that this will overwrite the existing ones for this Chart Group. Thus, this option should not be enabled if you use custom templates for "Trading is NOT allowed" and "Profit/Loss Limit reached".
General information
- EA version 4.0 has been a major performance upgrade with an almost entirely rewritten code base. This upgrade allows Take a Break to handle even large-scale chart setups while consuming a minimum amount of CPU power. From this version onward, the frequency of the news + time filter checks is controlled by the chart timeframe. Due to this, Take a Break EA must be run on a chart with timeframe M1 so that these checks get executed every minute. Conveniently, the EA will change its timeframe automatically if it was not attached to an M1 chart right away.
- From indicator version 1.30 onward, the chart templates for "Trading is NOT allowed" and "Profit/Loss Limit reached" are auto-created if they do not exist already. That should facilitate the setup process for most use cases of Take a Break. If you want to create custom chart templates (e.g. you want another EA to trade during news) or want to overwrite existing ones, do the following:
- Setup a chart with all required EAs/indicators.
- Attach the Take a Break indicator to this chart.
Specify the corresponding "Chart Group".
Select the "Template Type" you want to create/overwrite ("Trading IS allowed" / "Trading is NOT allowed" / "Profit/Loss Limit reached").
Feedback, improvements or enhancements are appreciated.
If you need any assistance, please contact me.
Nice EA, works super fine. Also good for prop trading, avoiding a rule break during news trading