Hey fellow traders! Today, I’m excited to share a quick rundown on the Maximus Expert Advisor (EA) for MetaTrader 4. This nifty tool focuses on identifying price consolidations on the chart, which can be a goldmine for making informed trades.
Understanding Price Consolidation
So, what exactly is price consolidation? It’s essentially a period where the market seems to get stuck, unable to make a clear move. The Maximus EA tracks these consolidations from the past and marks them on your chart. When the price hits the boundaries of these consolidations, it triggers trades. You’ll see two green lines at the top indicating a buy consolidation (which could also flip to a sell) and two red lines at the bottom for a sell consolidation (which could turn into a buy). The white lines represent the start and end of where the consolidation was identified. If you don’t see the white lines, it’s based on pivotal points like 1.2500, 1.2600, or 1.2700 for EUR/USD. Simple, right?
Parameters for Your EA
Now, let’s dive into the parameters that set up the EA, which are similar to previous versions of Maximus (you can check out my profile for more details):
- delay_open – This sets the time delay before a new deal opens (e.g., 1 for 15 mins, 2 for 30 mins, etc.). The timer resets after each trade.
- distance – The points from the consolidation at which a deal opens.
- period – After this time expires, a new consolidation search is triggered (in hours).
- range – The minimal range between the lower and upper consolidations.
- risk – This defines the lot size; a higher value means a lower lot.
- stop_loss – Best to keep this unchanged.
- trail – Typically, this should match the range value.
Limitations to Keep in Mind
Now, a few limitations to be aware of:
- This code only works on demo accounts and is limited to EUR/USD.
- It relies on global variables that need to be cleared before each new session.
- It lacks several functions that would optimize the advisor’s logic, such as automatic calculation of potential losses and trade adjustments.
- There are intentional errors in the code, so it’s a no-go for live accounts, even if modified.
- It’s designed for 5-digit deposits only.
Trading Strategy
For the newbies out there, let me tell you: testing with the same parameters for three years is not the way to go. No EA can handle that without losing steam. Instead, focus on optimizing 1,000 to 1,500 variations over a period of 1-2 weeks to find the most profitable parameters. Then trade based on these new settings for the following week. I recommend using the H1 chart for EUR/USD, with calculations performed on the 15-minute timeframe.
Let’s Brainstorm!
I’m keen to hear your thoughts on consolidations and how we can improve this trading method. For instance, the image below shows two different types of consolidations: one in the lower part of a long-term uptrend and another in a downtrend that’s run its course. It might be worth considering assigning types to these consolidations and adjusting lot sizes accordingly. What do you think?
Final Thoughts
Just a heads up, I won’t be checking internal messages, so let’s keep the discussion open here. If you have requests for modifying the EA for 4-digit deposits or different instruments, I may not respond. Let’s keep things focused!
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