This is the latest edition for the = Simple Take Profit EA based on Bollinger Bands compliments of Kenny
People ,please thank Kenny not me ok,I in no way want to take credit for anyone else's work.
Here is a minor update of the Bol_TP EA. I have removed the function that removes the EA from the chart when you load it onto a second chart of the same currency/TF by mistake. Unfortunately it was deleting my global variables when it did this which causes the scripts to malfunction. Instead now, the EA remains on the chart but is inactive. This also saves you the hassle of reloading the EA if it was a simple mistake.....just change the TF or Pair and the EA continues to work normally.
There is a minor issue where the lots traded reverts to fixed lots when lotsize is limited by broker minimum. This is not intentional but it still serves the same function, so I am not to worried about it.
Here is the dashboard with the stochastics filter. It is standard 9,3,3 using EMA with low/high price field parameters.
http://www.multiupload.com/3IVCNBP98S (Put this in the indicators folder)
The MA arrow only has color when the stoch is at or above 80 or below 20. Otherwise it is grey in color. The color of the arrow is still ONLY related to the PA relative to the 2 moving averages and only gets color when the stoch is overbought or oversold. The color of the arrow does not say anything about the stoch other than the fact that it outside of the 20 -80 range, so for example, it is up to you to manually check that the Price is overbought if you wish to go short.
Also spread is now displayed in brackets next to the currency pair.
Enjoy.
What the parameters mean in EA
Bol_TP_v4_Enhanced.mq4.............this is the main EA. I assume you know where this goes.
Bol_TP_Include.mqh......................this file goes in your "\experts\include" folder.
Bol_TP_BUY.mq4 & Bol_TP_SELL.mq4.....these go in your "experts\scripts" folder.
The settings are as follows(new ones in bold) :-
Use_MagicNo.....if set to true, EA will generate its own unique 8 digit Magic Number for use with the script. If set to false, Magic Number will be 0 which is the same as a manual trade.
Personal_Magic....if for some reason the auto magic number is not unique enough for you, you can add from 0 to 100 to the generated magic number.
Set_SL.............enables/disables the automatic stoploss entry
SL_Buffer.........the buffer between previous bars high/low for stoploss. Set to -1 to use auto buffer determination.
SL_Bars...........number of previous bars to use for stoploss entry. Includes the current bar.
Use_Move_BE......Enable/disable move to break even;
BE_Pips.........Move SL to break even when the profit is BE_Pips. Leave at zero to use the auto BE_Pips which equals the SL_Buffer.
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TP_Use_Timer...updates the TP2 at predetermined intervals rather than every tick. EA updates each new bar by default. This setting overides new bar and sets the TP more often.
TP_Update........number of seconds interval when changing TP2
Use_TP2_Close....use market order to close at TP2 instead of server side stop. This overides all other TP2 methods.
Show_TP_Line.....enables or disables the visual TP1 line
TP_Color.............ok, if you need help with this one, you are in the wrong place.
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Use_Trail...............enables or disbles the trailing stop function
Trail_Percent.........this is the % of profit to trail by ie 50 pips profit = 25 pips trail.
Trail_Max..............stop will trail by the % you set eg 50% until the trail is equal to Trail_Max. Then the EA will trail at this fixed value. Set to -1 to use auto trail max which is the same as your SL_Buffer. Auto buffer is a function of ATR.
Use_Decay.............my little pride and joy. Ever watched the Price action hang within 1 pip of your TP and then reverse. With this option, the trailing stop is tightened as the Price approaches the TP2. The trail is equal to TP - Price, so if you are 5 pips short of TP, your trailing stop will equal 5 pips.
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Use_Script..........this enables/disable the EA setting for the scripts. If set to false, you will get an error if you try and use the script. You must make a manual entry if this is set to false.
Risk..................this tells the script how much you want to risk. It is a % of your account balance. If you have it set to 1% and you have a $5000 account, the EA will calculate the trade size is limited to ensure that your loss at full stoploss = $50(1% of your account). So, the further you are from your stoploss at trade entry, the smaller the trade will be.
Fixed_Lots.........you can overide the risk setting and have the EA/script trade fixed lotsizes for you. In this case the EA will calculate and display your loss at full stoploss, as well as the risk level. Leave it at zero to use EA risk setting.....anything more than zero overides the risk setting.
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Auto_SL_Ref.............this is a reference to adjust the Auto_SL_Buffer. If you feel that the buffer is too big or too small, use this parameter to adjust.
Mod_Threshold..........this is the EA's own internal stoplevel. Basically you don't want it sending orders to change things by 1 tenth of a pips, so I have set it here by default to only change any order if the modification will be more than half a pip. This can also be used as a jumping stop by entering a bigger number like 5 or 10 pips.
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The rest of the settings are for the Bollinger bands. They should stay at default unless you have good reason to change them.
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When you want to trade, simply drag a Bol_TP BUY or SELL script onto the chart. You can also set hotkeys if you wish.
I am sure there will be many issue, so as always please report your bugs here with as much detail as possible.
Enjoy!
Guys! I can not fit all the instructions in this 1st post so head to page 15 please to see what other parameters mean thanks and sorry about the trouble.
Um Huu, thats definately not the Trade copier i have. I got this copier from a guy whom i opened a forex account under his affiliate link. As a thank you he sent me this copier. Fully licensed. All the files are there.