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IDOL MT4 – Full Input Settings Analysis
Idol is a trend-following MetaTrader 4 Expert Advisor (EA) designed to identify the optimal buy and sell zones by assessing price consolidation and trend continuation possibilities. It trades using in-built risk management strategies like stop loss, take profit, and trailing stop capabilities to ensure controlled and strategic trading.
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Main Transaction Settings
- Accuracy of Trades: 68 – Ideal trade accuracy. The greater the number, the more conservative the EA will be in choosing entry points.
- This Volume: 0.01 – Fixed volume applied for every single trade.
- For Every of This Value: 100.0 – Adds a trade for each $100 of account equity.
- Max Volume: 1000.0 – Maximum overall volume permitted.
- Comment to Order: Idol – Order comment used for easy identification.
- Take Profit: 1000.0 – Fixed take profit level (in points or pips, broker dependent).
- Stop Loss: 750.0 – Fixed stop loss level.
- Take Percent: 10.0 – Closes trade at 10% profit on account balance if greater than 0.
- Close on Opposite Lines: true – Automatically closes trades when an opposite signal is detected.
Technical Settings & Strategy Logic
- Start Trailing: 50 – Initiates the trailing stop as soon as the trade is in profit by 50 points.
- Trailing Stop: 40 – The length of the trailing stop maintained behind the current price.
- Step Trailing Stop: 10 – The trailing stop is stepped at intervals of 10 points as the price goes up.
- MA Set (Moving Average): Uses a moving average for generating trade signals.
- d (Candles): 30 – Number of candles used for calculating the moving average.
- Fibonacci Level for ATR: 0.1 – The Fibonacci level that is utilized to calculate ATR-based volatility.
- ATR Periods: 5 – The number of periods to utilize when calculating ATR (Average True Range).
- Show Line Buy/Sell: true – Display buy and sell signal lines on the chart.
- Sell Line Color: Red – Sell signal line color.
- Buy Line Color: LimeGreen – Color of the buy signal line.
- Line Thickness: 2 – Width of signal lines demonstrated.
Technical Limitations and Risk Control
- Max Slippage: 10 – Max slippage tolerated when placing trades in points.
- Max Spread: 20 – Max spread tolerated to enter a trade.
- Max Orders: 11 – Max trades simultaneously open.
- Min Step: 1 – Min step (in points) for martingale or grid orders (if used).
- Magic Number: 854511 – Unique number assigned to this EA in order not to conflict with other EAs.