Gold Harmonic Settings
MT4: www.mql5.com/en/market/product/80788
MT5: www.mql5.com/en/market/product/80802
Magic Quantity:
You should utilize these settings to make use of a number of consultants on the similar time
Magic numbers are particularly helpful if you end up buying and selling throughout a number of timeframes, utilizing the identical foreign exchange pair. As an illustration, you would possibly want to use two EAs, one that’s monitoring the EUR/USD on a one hour chart, whereas one other that’s monitoring the identical pair on a 15 minute chart. So, whereas one EA is development following, the opposite is scalping. Are you able to think about one EA attempting to trace a single commerce throughout completely different time frames? You wouldn’t wish to try this even to an enemy, and an professional advisor is your greatest pal in foreign exchange.
So, whereas buying and selling throughout completely different time traces, you would possibly wish to handle the trades otherwise for every time line. Because of this aside from the standard take revenue and cease loss exits, you would possibly wish to run a channel cease for one commerce and a trailing cease for one more. In such conditions, attempting to establish trades utilizing solely the foreign money pair will make it chaotic, on condition that the foreign money pair is identical throughout the completely different trades, such because the EUR/USD within the instance above.
That is the place magic numbers come to the rescue. A novel quantity is assigned to every commerce, when it’s opened. The EAs now observe trades by their magic numbers, simplifying the method. As an illustration, the trend-following EA would possibly observe the magic quantity 214, whereas the scalping one follows 316.
To summarize, magic numbers can be utilized to separate orders throughout completely different methods, separate orders throughout completely different timeframes for a similar foreign money pair, and to separate orders throughout completely different EAs.
Share of Danger:
Specify the chance share right here. By default, the professional dangers 3% per commerce. Because of this in the event you make a revenue or a loss, 3% of your capital will enhance or lower per commerce.
This quantity relies in your capital. For instance, in case your capital is $ 1,000 and these settings are set to three, then the professional will make a revenue or lack of $ 30 per commerce.
The upper this quantity, the upper the chance of Drawdown. It’s higher to not take too many dangers early in utilizing this professional and discovering one of the best settings. The most effective threat is 1 to five %.
Break even allow:
Allow this part if you wish to use the breakeven settings
Suppose your commerce is at the moment operating and has greater than 500 factors in revenue, and also you wish to shut the commerce if the reversal and buying and selling course of is at a loss. To do that, allow these settings. That’s, equal the loss restrict with the opening worth of the commerce. On this case, if the development returns, you’ll not lose and the commerce will likely be closed with 0 factors of revenue and 0 factors of loss.
Break even level:
After reaching this quantity of revenue (based mostly on the factors), the professional units the loss restrict equal to the opening worth of the professional.
Within the earlier part, we discovered what these settings are. Now we have to set these settings to be activated after a couple of factors of revenue. In default mode, the professional prompts these settings after reaching 450 factors of revenue. That’s, after 450 factors of revenue, the professional equates the quantity of the loss restrict with the opening worth of the identical transaction.
Max Unfold level:
On this part, set the utmost quantity of spreads in order that in case your dealer has extra spreads, the professional won’t commerce (the decrease unfold, is best)
For any cause, the quantity of spreads in your dealer could enhance. On this case, if the professional desires to commerce, you could lose a couple of factors. So it’s higher to set a setting for the unfold in order that if the unfold worth is excessive, the professional won’t commerce and can commerce when the unfold worth decreases.
Within the day by day timeframe and when the quantity of revenue and loss limits is excessive, you possibly can set this quantity as much as 100 factors, however we advocate decreasing this quantity. The decrease the quantity, the higher. To set this quantity, you might want to test the unfold of the foreign money pair’s unfold in your dealer.
Observe that these settings are based mostly on level.
When you have no idea what spreads are, it’s best to not change these settings.
Lengthy Commerce:
When you disable these settings, Professional won’t commerce “Purchase“
“Lengthy” buying and selling means “Purchase” in Foreign currency trading. Professional do each “Purchase” and “Promote” trades in defaults. You should utilize these settings if you wish to disable “Purchase” trades
Brief Commerce:
When you disable these settings, Professional won’t commerce “Promote“
“Brief” buying and selling means “Promote” in Foreign currency trading. Professional do each “Promote” and “Purchase” trades in defaults. You should utilize these settings if you wish to disable “Promote” trades.
Remark for professional:
Every commerce has a remark. Utilizing these settings, you possibly can specify the feedback of the trades of this professional
This remark will be seen within the historical past of your trades in MetaTrader
Take Revenue:
You’ll be able to alter the TP worth your self. ( Based mostly on factors )
On this professional, the TP of every commerce is completely different.
Cease Loss:
You’ll be able to alter the SL worth your self. ( Based mostly on factors )
On this professional, the SL of every commerce is completely different.
Set file:
