SWB Super Trend | Martin EA Download- MT4/MT5 Resources
Hello,
This EA is loosely based on the SWB Martingale EA in this thread here. Still, there are enough variations to warrant consideration.
First, I incorporated the SuperTrend indicator (from this thread) and based all my timings on that. In other words, this is the only metric used.
Instead of direct buy and sell orders, I also open pending order trades (buystop and sellstop), where the pending order offsets (p1_offset and p2_offset) are adjustable. You can also choose to use direct buy and sell orders by setting the offset to 0 or less than 5.
I also set it to incremental mode instead of using a lot multiplier, plus each level is set with its own TP and once hit it resets and opens new trades and will continue to do so as long as it is still within the range and how the indicator is used. However, if you set it to stealth mode, it doesn't behave this way and behaves almost like the original SWB.
Furthermore, for raw SWB, the indicator only determines the opening of the first trade. Here it determines the opening of all trades at all levels... although it can be restricted to the first level by setting tier2_sig to false .
I think that basically explains it, except everything is set up the way I currently use it. You can make it larger or smaller according to your preference. If you wish to use the same setup, I recommend an initial deposit of at least $500, or whatever currency you use. I also set the indicator and chart to the M1 timeframe and so far it doesn't seem to have any adverse effects. But only time will tell.
It is also set up so that you can run multiple instances on multiple currency pairs and charts (adjusting the lot size and profit target accordingly), plus I have added the Close_on_Profit EA I developed here, where a global close will occur when a specific profit target is reached. In fact, it works very well for this particular application.
Oh, don't forget to put the SuperTrend indicator (SuperTrend.mq4) into the indicators folder!
Estimated arrival time:
This EA is loosely based on the SWB Martingale EA in this thread here. Still, there are enough variations to warrant consideration.
First, I incorporated the SuperTrend indicator (from this thread) and based all my timings on that. In other words, this is the only metric used.
Instead of direct buy and sell orders, I also open pending order trades (buystop and sellstop), where the pending order offsets (p1_offset and p2_offset) are adjustable. You can also choose to use direct buy and sell orders by setting the offset to 0 or less than 5.
I also set it to incremental mode instead of using a lot multiplier, plus each level is set with its own TP and once hit it resets and opens new trades and will continue to do so as long as it is still within the range and how the indicator is used. However, if you set it to stealth mode, it doesn't behave this way and behaves almost like the original SWB.
Furthermore, for raw SWB, the indicator only determines the opening of the first trade. Here it determines the opening of all trades at all levels... although it can be restricted to the first level by setting tier2_sig to false .
I think that basically explains it, except everything is set up the way I currently use it. You can make it larger or smaller according to your preference. If you wish to use the same setup, I recommend an initial deposit of at least $500, or whatever currency you use. I also set the indicator and chart to the M1 timeframe and so far it doesn't seem to have any adverse effects. But only time will tell.
It is also set up so that you can run multiple instances on multiple currency pairs and charts (adjusting the lot size and profit target accordingly), plus I have added the Close_on_Profit EA I developed here, where a global close will occur when a specific profit target is reached. In fact, it works very well for this particular application.
Oh, don't forget to put the SuperTrend indicator (SuperTrend.mq4) into the indicators folder!
Estimated arrival time:
- 12/23/ 10..Added bias reset and changed p_target price on SWB_SuperTrend EA to $3.00.... Post #11.
- 12/23/10 .. Includes updates to Close_on_Profit EA.... Post #16.
- 12/23/ 10..Fixed bias reset , which wasn't working... Post #17.
- 12/23/ 10..Modified bias reset to include only first transaction plus added reset level .... Post #28.
- 12/24/ 10..Add shutdown level to enter stealth mode.... Post #34.
- 12/26/ 10..Changed shutdown level to curb level About SWB_SuperTrend EA.... Post #44.
- 12/26/10 ..Added Manual Closing Take Profit EA.... Post #45.
- 1 2/29/ 10..Add to be deleted SWB SuperTrend EA timeout.... Post #47.
- 01/07/11 .. Added SWB SuperTrend EA version with manual option.... Post #51.
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