INTRODUCTION

CoralMAX is an MT4 EA for Place Buying and selling. The EA can take automated entries based mostly on Imply Reversion or ADR Reversal methods; or you’ll be able to enter manually.  You outline the Market Circumstances in your entries, and the EA will enter trades when these situations are met and an Entry Sign is detected.  For exiting the commerce there are a number of Exit Circumstances that may be outlined.  When a commerce goes into drawdown the EA will Scale In at a specified spacing distance, to maintain the exit situations in attain.  CoralMAX can carry out automated drawdown management to maintain your portfolio underneath management as trades go uncomfortably far in opposition to you.  And it may possibly optionally improve the lot sizing underneath rigorously managed situations to make sure the exit situations don’t drift farther and farther away.

CoralMAX is accessible within the MQL5 Market right here.

MultiMAX, the multi-symbol model of CoralMAX, is accessible within the MQL5 Market right here.

You may let CoralMAX commerce fully hands-free, or you’ll be able to take management and add your individual entries.

CoralMAX trades a single image on a single chart at a time.  You may place CoralMAX on a number of charts to commerce extra pairs as you want.  There may be additionally a multi-symbol model referred to as MultiMAX that may commerce all devices from a single chart on the similar time, whereas controlling in your total portfolio publicity, most variety of trades, drawdown and different portfolio situations.  MultiMAX is accessible within the MQL 5 Market right here, and you’ll learn extra about it on this weblog put up.

HOW DOES CoralMAX TRADE?

There are two main methods which are supported by CoralMAX for buying and selling: Imply Reversion and ADR Reversal.  Buying and selling will typically undergo these phases:

1. Market Circumstances – Relying on the technique you’ll be able to monitor the RSI or ADR values on a chart and take entries when sure situations apply, like taking an entry quick when H1 RSI(21) is above 70.  As well as there are a selection of affirmation filters which are obtainable to enhance the standard of your entries.

• Market Situation Indicators: RSI or ADR
• Affirmation Filters: HTF MA, HTF Sign route

2. Entry Situation – The entry situation is a sign based mostly on value motion that’s meant to determine reversals.  Some programs refer to those as “breakers,” generally they’re referred to as “reversals,” and so forth.  Visually on the chart these are represented with a line that begins from the primary candle that identifies the candle sample, and when value crosses that line (closes past) then a sign is generated.
3. Scaling – When you’re in a commerce, if the commerce goes in opposition to you then the EA will scale in.  This implies including one other commerce to the place to maintain the typical shut sufficient to get out when there’s a revenue take transfer, normally round 0.5-1.0 ADR in distance.  There are numerous choices for controlling how CoralMAX scales right into a commerce.
4. Drawdown Management – Optionally, if a commerce will get too far into drawdown you’ll be able to have CoralMAX carry out drawdown management (DDC). When a single commerce reaches both a specified distance or DD%, cut back its dimension by a share.
5. Exit Circumstances – There are two main exit situations obtainable: when the basket reaches a share of revenue (the Goal P.c) and when the basket reaches a specified distance in revenue (the Goal ADR).  These may be adjusted in actual time by dragging their respective traces on the chart.

• Allow MAX Logic – Whether or not the EA will take automated entries.  When false the EA is not going to enter new trades or scale in, however will nonetheless shut operating trades after they hit their targets.
• Allow Hedged Baskets – When true the EA will take each lengthy and quick positions when entry situations are happy.  When false the EA will commerce in just one route at a time.
• ADR Spacing between entries – The space a commerce have to be in drawdown earlier than a further commerce is added to the place.
• Scaling Mode – Choices for the way the EA will scale into trades in drawdown.  The space is all the time measured from the commerce that’s the farthest from the basket common.
• Sign after distance – The farthest commerce have to be higher than the scaling distance, and obtain an entry sign within the route of the commerce.
• Distance solely – The EA will scale in on the primary candle that closes farther than the scaling distance.
• ADR Goal – All trades within the basket shall be closed when value has reached this distance previous the basket common.
• Revenue Goal P.c – All trades within the basket shall be closed when the basket has reached this quantity of revenue.
• Cancel Pendings at Goal – In case you have positioned any pending orders, then these orders shall be canceled when the basket closes on the Goal ADR or Goal P.c values.  This may solely affect pending orders positioned with Max and having the identical magic quantity.  When you place a pending order manually it is not going to be closed by Max.
• Shut on Reverse Sign – If you’re in a commerce in a single route and also you obtain an entry sign within the different route, this controls whether or not the EA will shut the earlier commerce.  If the RSI Filter is enabled, then RSI should even be prolonged within the route of the brand new sign.
• Minimal P.c to Shut on Reverse – When > 0.0, the earlier commerce will solely be closed on a reverse sign when it’s above this worth in revenue.
• Take away SL on Open – When true, when the EA enters a commerce it will likely be positioned and not using a cease loss.  The Cease Loss Distance will solely be used for calculating lot sizes.  That is usually how trades are created when place buying and selling.
• Startup Goal Delay Timer – When > 0.0, when the EA is began or re-started (e.g., enter choices are modified) any trades which are in revenue past the Goal ADR or Goal P.c is not going to be closed till this timer has expired.  That is to guard you from having trades in revenue closed, when you’ve got manually dragged the goal traces to provide the commerce extra room to run.

LOT SIZE INCREASES

When scaling in, Max will examine each the “regular lot dimension” (calculated at this second based mostly in your danger settings) and can discover the most important lot dimension for open trades in the identical route; and it’ll choose the bigger of the 2 as the place to begin for lot dimension will increase. This ensures that you probably have carried out drawdown management on earlier positions, Max will nonetheless scale in on the regular dimension.  Nonetheless this additionally signifies that you probably have scaled in with an aggressive place of a bigger dimension, that’s the lot dimension that shall be used for lot dimension will increase.  There isn’t a approach for Max to inform the distinction between a standard commerce and an aggressive commerce.  You need to maintain this in thoughts for those who manually add aggressive trades AND have enabled Lot Measurement Will increase.

• Lot Measurement Improve Methodology – Choose the logic for use for rising the lot dimension.
• None – Flip off lot dimension will increase
• Lot dimension multiplier – Multiply the lot dimension by this quantity.
• Scale tons to distance – Calculate the lot dimension wanted to maneuver the basket common to the ADR Spacing distance.  This ensures that while you scale within the basket common stays at this distance. 

  Bear in mind that this feature can create trades with VERY massive lot sizes.  It’s endorsed to set a Max Danger P.c or a Cease Loss with this feature, to guard your self in opposition to unexpectedly massive lot sizes.

• Lot Measurement Multiplier – When the Lot Measurement Improve Methodology is ready to Lot dimension multiplier, that is the quantity by which the lot dimension is multiplied for will increase.
• After/Each X Trades – When rising lot sizes you’ll be able to management how usually the rise is utilized. 
• After X Trades – On this mode the rise will solely be utilized when the brand new commerce would exceed this variety of trades.  As an illustration, if X is 4, then trades 1-4 will use the conventional lot dimension, after which each commerce after (5, 6, 7, …) can have the logic to extend lot sizing utilized.
• Each X Trades – On this mode the rise will solely be utilized every time the variety of trades reaches a a number of of X.  If X is 3, then the lot sizing will step up each 3 trades.  For instance, with quite a bit dimension multiplier of two, an preliminary lot dimension of 0.1 and a rise each 3 trades, your lot sizes for every commerce shall be: 0.1, 0.1, 0.2, 0.2, 0.2, 0.4, 0.4, 0.4, 0.8, and so forth.
• X for After/Each X Trades – The variety of trades used for figuring out whether or not the lot sizing improve logic is utilized, in accordance with the mode chosen within the earlier possibility.
• RSI required? – When true, the lot dimension improve logic will solely be utilized if RSI is prolonged within the route of this commerce.  The RSI Filter have to be enabled for this rule to use.  The thought is that we need to improve the lot sizing when there’s a higher chance that value will reverse; in any other case we might not apply the rising logic.
• Cease Loss Required above Danger % – When rising lot sizes, we need to watch out to not let a commerce with a bigger lot dimension go into drawdown.  Set this feature to a worth > 0.0 to have a cease loss used with a commerce after we apply the logic to extend lot sizes, when the Danger % of this new commerce exceeds this worth.
• Max Danger P.c – When set to a worth > 0.0, by no means exceed this quantity of danger when rising lot sizes.

RSI FILTER

• RSI Filter – When true, RSI have to be prolonged above the RSI Excessive worth for a SELL, and beneath the RSI Low worth for a BUY.
• RSI Alerts – When true, and if alerts are enabled (see beneath), then Max will ship an alert when RSI crosses the RSI Excessive or RSI Low values.
• RSI Timeframe – The timeframe to make use of for the RSI Filter.  If the timeframe is increased than the present chart timeframe then Max will take a look at the RSI worth of probably the most just lately closed candle on the upper timeframe.  If the RSI Timeframe is similar or decrease than the present chart timeframe then Max will take a look at the RSI worth of each candle on the RSI Timeframe, ranging from the beginning time of the entry sign line.
• RSI Interval – The interval to make use of for RSI.
• RSI Excessive – The worth that RSI should exceed above to allow a SELL.
• RSI Low – The worth that RSI should exceed beneath to allow  BUY.
• RSI Mode – The RSI calculation mode; i.e., the value used for calculating RSI.  Shut value, Open value, Excessive value, Low value, Median value, Typical value or Weighted value.

HTF MA FILTER

• HTF MA Filter – When true Max will solely take a brand new commerce within the route of the Higher Time Frame (HTF) MAs.  When MA 1 is above MA 2 then BUY trades are permitted; when MA 1 is beneath MA 2 then SELL trades are permitted.
• HTF MA Timeframe – The timeframe to make use of for the HTF MAs.
• HTF MA 1 Interval – The interval of the primary MA.
• HTF MA 2 Interval – The interval of the second MA.
• HTF MA Reverse Course – Set this to true to reverse the route of the HTF sign.

ADR FILTER

• ADR Filter – Set to “true” to allow the ADR Reversal entry situation. 
  
• ADR Alerts – When true, and when alerts are enabled (see beneath), obtain an alert when value exceeds the configured ADR Degree.
• ADR Degree – Measures how far above the day’s excessive or low that value has moved, as a share of ADR.
• ADR Bars Again – When contemplating whether or not the ADR Filter has utilized, specifies what number of bars again will the EA look to see whether or not the ADR Degree has been exceeded.
• ADR Interval – The interval to make use of for ADR calculations.  Observe that this is applicable to all ADR calculations used all through Max, not simply the ADR Filter right here.
• ADR object properties – When the ADR Filter is enabled, ADR traces are drawn on the chart.  These properties management the looks of these traces.

HTF SIGNAL FILTER

• HTF Sign Filter – When “true” Max will solely think about entries within the route of the newest HTF sign.
• HTF Sign Alerts – When true, and when alerts are enabled (see beneath), obtain an alert when the HTF Sign route adjustments.
• HTF Sign Timeframe – The Higher Time Frame to make use of for the HTF Sign.
• BULL Coloration – The colour to make use of for the bullish sign line on the chart (used with the present timeframe’s sign, not the HTF sign)
• BEAR Coloration – The colour to make use of for the bearish sign line on the chart (used with the present timeframe’s sign, not the HTF sign)
• Line Width – The width to make use of for the sign traces on the chart (used with the present timeframe’s sign, not the HTF sign)

BASE OPTIONS

• Simulated Mode – When true the EA will function in SIMULATED mode.  It’s also possible to toggle this with the Market button within the Orders part. 
• Max Orders – The overall variety of trades that may be entered.  Set to zero to forestall Max from taking any automated trades (handbook trades will nonetheless be allowed).
• Embrace prices – When true, Max will embrace swap and fee prices in revenue calculations for trades and the basket.  This impacts reported values in addition to the location of traces on the charts.
• Magic Quantity – Set this to a novel worth for every occasion of Max that’s operating.  EAs use magic numbers to permit them to restrict their buying and selling logic to solely their very own trades within the terminal.  Set this to zero to have the EA handle all trades for this image no matter magic quantity.  The magic quantity can also be displayed within the EA’s title bar for fast reference.
• Commerce Remark – Place this because the touch upon all trades positioned by the EA.  The remark can also be displayed within the EA’s title bar for fast reference.
• Maintain a Log File – When true, Max will maintain its personal log file in <your knowledge folder>MQL4Files.  The log file identify is “cmax-<magic>.txt”.  See the part on Logging beneath.
• Models for enter distances  – Max can measure distances in Pips (2 pips), Factors (0.00020 factors) or ADR (0.5 ADR).  Any of the inputs that describe distances can have “(models)” as a part of their identify, and the unit relies on what you choose right here.  When you change the unit right here, be sure you change the values for any inputs which are measuring distances!  In case you have “20 pips” set for Take Revenue Distance and you modify the unit to ADR with out altering the worth, then the EA can be utilizing 20 ADR because the take revenue distance; it could take a really very long time for this commerce to hit its goal!
• LONG/SHORT trades allowed – Set to true/false to allow/disable automated buying and selling on this route.  Observe that this can NOT apply to scaling in, solely to new entries.

TRADE RISK OPTIONS

These choices apply to particular person trades which are positioned by Max.

• Lot Sizing Methodology – Mounted or calculated based mostly on Danger P.c.
• Mounted Lot Measurement – When the Lot Sizing Methodology is “Mounted”, all the time use this lot dimension.
• Danger P.c – When the Lot Sizing Methodology is “P.c”, calculate lot sizes based mostly on this danger %. 
  
• Danger Supply – When the Lot Sizing Methodology is “P.c,” this determines whether or not the Danger P.c is calculated utilizing the “Account Stability” or “Account Fairness.”
• SL Distance (models) – The cease loss distance within the chosen unit.  That is the space used for calculating lot sizes when the Lot Sizing Methodology is “P.c.”  If Take away SL on Open is “false” then that is additionally the SL set on trades which are opened by the EA.
• TP Distance (models) – The take revenue distance within the chosen unit.
• Buffer Distance (models) – The buffer distance within the chosen unit is used for pending orders, and with the SL/TP distances which are positioned relative to candles and swing excessive/low costs.  See the part on “Visualize” for extra info.

DRAWDOWN CONTROL

Drawdown Management means performing closes or partial closes of trades in drawdown with a purpose to maintain your total drawdown from getting too excessive, and to trigger the basket common to maneuver nearer to present value.

• Allow Drawdown Management (DDC) – When set to true the drawdown options on this part are enabled.
• Drawdown P.c – When DDC is enabled and this worth is > 0.0, then a commerce shall be topic to DDC when it reaches this quantity of drawdown. Present a optimistic worth right here; a worth of 0.25 means -0.25% in drawdown.
• Drawdown Distance (models) – When DDC is enabled and this worth is > 0.0, then a commerce shall be topic to DDC when it reaches this distance in drawdown.  Observe that the space is measured within the unit chosen within the Models for enter distances possibility.  For instance, if the at present chosen unit is ADR, then a worth of 1.0 right here means 1.0 ADR in drawdown.
• This selection will repeat at every increment of this distance. Max is aware of when a commerce has been partially closed, and what number of occasions. 
• DDC Lot Measurement Multiplier – When a commerce has triggered DDC, both via Drawdown P.c or Drawdown Distance (or each), then that is the portion of the commerce that shall be closed, based mostly on the conventional lot dimension.
• Which means the lot dimension to begin with is calculated now based mostly in your present Danger settings, and the share discount is utilized to that quantity.  Why?  For instance you’ve got a commerce of 1.0 tons and also you cut back by 0.25x.  The primary time DDC is utilized, Max will cut back 0.25 tons and the commerce can have 0.75 tons remaining.  The following time is when it will get fascinating.  You would both apply the 0.25x multiplier to the present lot dimension of 0.75 to scale back it by 0.18 tons, or calculate the conventional lot dimension of 1.0 and cut back it by 0.25 tons.  Max will do it the second approach, so the reductions are extra uniform (though variations in ADR over time and your account stability/fairness may even have an effect on the calculated regular lot dimension, so it will not be precisely the identical because the preliminary lot dimension on the commerce).

FEATURES

These two options may be independently turned on and off right here; turning them off (setting the worth to false) will stop them from being displayed within the Choices part of the UI, and can suppress their performance.

• Partial Shut – Allow the Partial Shut function.
• Trailing Cease – Allow the Basket Trailing Cease function.
• Auto Partial Shut P.c – When the Partial Shut function is enabled and when this commerce reaches this quantity of revenue, then a partial shut of this commerce shall be carried out. For instance, if a commerce reaches 1% in revenue, shut 1/2 of the commerce.  
• Partial Shut Lot Multiplier – This multiplier is utilized to the lot dimension of this commerce to find out what number of tons to shut.  Should be within the vary 0.0 .. 1.0.  Partial closes are solely utilized one one; as soon as a commerce has been partially closed, it is not going to be topic to additional partial closes, even when it features in worth as much as the Auto Partial Shut P.c once more.

This is applicable to the Models for enter distances possibility.  Relying on which unit is chosen, the up/down arrows within the Choices part will step values up and down by this quantity.  When you discover that you simply desire that pips step by bigger quantities than 1.0 pip at a time, you’ll be able to regulate that right here.

ALERTS

Regular MT4 alerts are supported, each popup alerts in MT4 and push notifications to ship alerts to your cellular system.

• Popup Alerts – Allow popup alerts in MT4.
• Push Notifications – Allow push notifications to your cellular system.
• Alert Repeat Delay – Some alerts might repeat a number of occasions when sure situations happen, resembling RSI crossing a Excessive/Low worth.  Worth doesn’t typically transfer in a straight line, it may possibly cross a worth a number of occasions because it’s shifting.  This repeat delay timer will cut back the amount of such alerts ready for the delay interval to cross earlier than sending extra alerts.
• Alert on Commerce Open – Ship alerts when a brand new commerce is opened or when a place in added.
• Alert on Commerce Shut – Ship an alert when a commerce is closed.

TABLE SETTINGS

The primary window of the CoralMAX utility is organized in a desk.  The properties for objects on this desk are specified on this part.

LOGGING

• Logging – Select the logging degree.  

CoralMAX has a built-in logging system that stories numerous sorts of data to the Specialists tab in MT4 and the log information.

The log information in your MT4 set up may be discovered right here:

That is an actual copy of what will get printed to the Specialists tab.  MT4 will maintain the the messages printed to Specialists in reminiscence and solely write them often.  To power MT4 to flush this cache and write all messages, go to your Specialists tab, right-click and choose “Open” from the menu.  This may write all messages to the log and open the log folder.  

These are the logging ranges supported by Max:

When you choose a logging degree, messages at that degree and better are printed to the log.  As an illustration, if you choose WARN, you will note WARN, ERROR and FATAL messages.  If you choose TRACE, you will note EVERYTHING.  

It’s best to often go to your logging folder and delete older log information.  They have a tendency to construct up over time and devour disk area.

There may be additionally a function within the base code to maintain a separate log file, which shall be present in MQL4Files.  The file identify is “cmax-<magic>.txt”, utilizing the magic quantity.

SET FILES / STRATEGIES

There are numerous methods to commerce with CoralMAX.  You may have Max ship you alerts of varied commerce situations after which you’ll be able to determine to enter trades manually; or you’ll be able to have it totally automate your buying and selling for you.  The 2 principal methods supported are Imply Reversion and ADR Reversals.  These set information present a place to begin for various methods of configuring Max.  These are offered as a comfort solely; there isn’t a intent to indicate that these are the one or greatest settings, or that they’re assured to be worthwhile over time.  NOTE: The set information right here are usually not appropriate with the set information obtainable for MultiMAX, and the set information for MultiMAX are usually not appropriate with CoralMAX.  Use solely the set information designed for the EA you’re utilizing.

ALERTS ONLY – MANUAL TRADING
CoralMAX – Alerts Solely.set

With these settings CoralMAX is not going to open any new positions mechanically, however will nonetheless have the ability to scale into trades in drawdown, shut trades at targets, and apply any of the opposite buying and selling logic (e.g., trailing stops).  You’re going to get alerted when RSI goes above RSI Excessive or beneath RSI Low; when ADR reaches the configured ADR Degree (125% by default), or when the HTF Sign is triggered.  You’ll then analyze your chart to determine whether or not to take an entry, and place the commerce manually utilizing the controls within the Orders part.

Why no choice to alert on a sign?  As a result of these alerts happen continuously, you’ll be getting alerts on a regular basis.  The vital factor isn’t that there was a sign, it is that there was a sign when the market situations utilized.  So that you get an alert for market situations, and then you definately determine concerning the entry.

MEAN REVERSION
CoralMAX – M5 MR.set
CoralMAX – M15 MR.set

With these settings CoralMAX will observe a Imply Reversion technique based mostly available on the market situations of RSI extensions adopted by entry alerts.  The M5 technique will monitor H1 RSI(21) 70/30, and the M15 technique will monitor H4 RSI(21) 70/30.  You’ll put CoralMAX on both the M5 or M15 chart.

ADR REVERSAL
CoralMAX – ADR.set

Put CoralMAX on an M5 chart.  With these settings CoralMAX will enter when value exceeds ADR 125% after which will get a sign for a reversal.  Observe that this technique makes use of a Lot Measurement Multiplier and a smaller ADR Spacing distance.

H1 HEDGE
CoralMAX – H1 Hedge.set

Put CoralMAX on an H1 chart.  With these settings an entry shall be taken at every H1 sign, with a goal of 0.5 ADR.  Hedging mode is enabled, so trades may be taken in each instructions on the similar time.

SKINS

The “Skins” are settings information for simply the item properties on the charts, to provide a distinct visible look to the CoralMAX window.  You may apply these set information with out altering some other settings.  As an illustration, if you wish to use considered one of these skins with the H1 Hedge file, then you definately would apply the H1 Hedge set file first to get the technique settings in place, then you definately would apply the pores and skin of your alternative to alter the looks.  Not one of the H1 Hedge technique settings can be modified by making use of a pores and skin file, simply the desk’s object properties.