Strategy Builder for MT4 3.15
NOTE: STRATEGIES CREATED WITH VERSION 3.14 WON’T WORK IN VERSION 3.15. The new version has architectural changes so it is not compatible with the previous version.
Features Released on January 30, 2010
- New layout feature: It helps you to automatically organize your design. Just go to the Trading Diagram menu and select between vertical and horizontal. Really useful when you have many icons and want a clear view of your trading diagram.
- Turn warnings off: We added the warnings ON/OFF feature for users that are comfortable with their eas and do not need to see the warning alerts. Under the expert properties in MetaTrader, go to the Inputs tab, find the variable ShowWarnings. Change it to false (true = on, false = off) to stop warnings (visual alerts). Warnings will continue to be printed in the ea logs under the Experts tab in MT4.
- MQL icon: As requested by expert users, we added the MQL icon to manage custom MQL trading conditions. Even though some coding knowledge is needed, we made life easier adding a code editor for rapid development. With the MQL icon, you can insert your own MQL code and get more control of your trading conditions.
- Fixed string size warning: Certain users connected a big number of TAs to the same AND icon. When generating the EA, a warning appeared about a string being too big. Even though the generated ea worked fine, we changed the way we generate the code to avoid this warning and make the MQL code easier to read. Most of the users were not aware of this issue since it is not typical to connect that amount of TAs to the same AND icon.
Features released on Feb 28,2011
- Changes to the existing time filter feature: A new option was added to the existing time filter feature. In the START icon, look for Action before/after Trading Hours to define whether or not you want to close all positions when the server time is not between trading hours. This new feature could be used to close all positions after the trading hours have passed. To give users more flexibility, you can also change this feature under MetaTrader. Just go to the expert advisor inputs and look for the variable ClosePositionsNonTH.
If ClosePositionsNonTH = true, all open positions will be closed after/or before trading hours.
- New TIME icon: This new icon gives user total control of time trading. It allows the setup of trading conditions based on days of the week, hours and minutes. Please note that the time feature in the START icon controls time settings for the EA and the TIME icon gives more control on the trading conditions. We advise to use the TIME icon using an AND to join a TA icon and a TIME icon.
- Improvements to Hedge feature: Version 3.14 allowed hedging to some degree. One could hedge using different EAs i.e. running two eas for the same pair but using different magic numbers. However, trailing stops couldn’t be used. In version 3.15, one can continue to hedge using two eas and trailing stops can be used.The good news is that in version 3.15 hedging is available within one ea. You can access this feature under MetaTrader. Go to the EA inputs and look for the variable Hedge. If Hedge = true, the EA will hedge. It will open short and long positions. If Hedge = false before going long (buying a currency pair) the software will close all short positions; and before going short (selling a currency pair) the software will close all long positions. If you want to hedge within one ea, set Hedge = true. Take into account the following:-you need to use the CLOSELONG and CLOSESHORT icons when hedging to close existing positions.-The Maximum Number of Positions in the START icon is defined per type (long or short). This means setting Maximum Number of Positions=1 will allow one long and one short position
- New trailing stops feature: In version 3.14, the evaluation of the trailing stops is in line with the Execution Mode defined in the START icon. Thus if you trade using bars, trailing stops are evaluated using bars; or if you trade using ticks, trailing stops are evaluated using ticks. In version 3.15, two new ways of trailing stops management are introduced:1. Check trailing stops regardless of the definition in the Execution Mode. So you can trade using bars but evaluate trailing stops every tick. This feature is available in MT4, under the ea inputs. If CheckTSEveryTick=true, trailing stops are evaluated every tick. If CheckTSEveryTick=false, trailing stops evaluation will depend on the definition of the Execution Mode (ticks or bars)2. Time Based Trailing Stops: This feature allows evaluating the trailing stops every n minutes, where n is defined by the trader. So now, you can trade using one hour bars and evaluate the trailing stops every 30 minutes (or any time frame defined by the user) To access this feature, in MT4 go to the expert advisor input and set UseTimeBasedTS = true and TimeBasedTS = 30 (or any time frame i.e 5 for 5 minutes, 10 for 10 minutes, 30 for 30 minutes)Please bear in mind that MT4 backtesting uses a fixed time frame.
Features released on June 22,2011
- Pending Orders
The new pending orders icons BUY P, SELL P and DEL P give you the power to manage pending orders.
- BUY P - Pending Buy icon: Executes a BuyStop at the Ask price + a buffer (offset in pips). BuyStop is a pending order to buy a currency pair at a price higher than the current price. The order will be executed (modified into market order Buy) if the Ask price reaches or rises above the price set in the pending order.
- SELL P - Pending Sell icon: Executes a SellStop at the Bid price - a buffer (offset in pips). SellStop is a pending order to sell a currency pair at a price lower than the current one. The order will be executed (modified into market order Sell) if the Bid price reaches or falls below the price set in the pending order
- DEL P - Delete Pending icon: Delete pending orders
Features released on August 2,2011
- MetaTrader variables icon (MTVAR)
New MetaTrader variables icon (MTVAR) to create variables to optimize indicators during backtesting. Just go to the Trading Diagram menu, then click on Show/Hide MetaTrader variables to see the MTVAR icon. Click on the MTVAR icon, add your own MT4 variables. Then use them in any TA+ icon. Variables will be available in MetaTrader for optimization during backtesting or under the expert advisors' input tab.
- TA+ icon
New Advanced Technical Analysis icon (TA+), similar to a TA icon but includes the possibility to use MetaTrader variables (created in the MTVAR icon) so you can create and optimize powerful expert advisors.
- New Next Trade Management option
Some background about this new feature: Trading conditions (or signals) are created using one TA icon or several TA icons joined by an AND icon or an OR icon. When trading conditions are true, an action is executed. BUY, SELL, CL, CS, BUYP, SELLP, DELP are icons that execute actions (i.e. BUY opens a new long position). Thus a basic ma strategy would be something like this:
A TA icon with the trading condition MA period 9 > MA period 18, connected to a BUY icon. In a BUY icon you can define take profit and stop loss.
Let’s say you are using the strategy defined above, and MA period 9 is higher than MA period 18, so a new positions is opened (with a 150 pips tp and 50 pips sl). After a while, the position reaches tp and it is closed with a gain of 150 pips. Then, on the next bar, MA period 9 is higher than MA period 18 so a new position is opened. The strategy works as defined. However some users do not get it. They ask why a new position is opened after take profit is executed. We always tell them – it’s the way you define the strategy. It’s not a ma crossover. It’s just a simple ma strategy that looks at a simple condition. Then we point them to the ma crossover example in our and tell them to look at the difference between the simple ma strategy and the ma crossover.
But users keep asking: How can I make it easier? How can I wait for the next signal using a simple condition? How can I enter the trade in a fresh signal? Here is the answer, use the next trade management feature
We included a new option on the BUY and SELL icons called Trade Management to manage the next trade execution. If you use the default option, nothing will happen. It will work like previous versions. If you select “Wait until an opposite trade is opened”, a trade will be executed but the next trade will be executed if the last trade is an opposite trade.
Confused?. Let’s go over the ma example again but now with the next trade management feature:
Let’s say you are using the strategy defined above but now in the BUY icon change the Trade Management parameter to “Wait until an opposite trade is opened”. At one point, MA period 9 is higher than MA period 18, so a new positions is opened (with a 150 pips tp and 50 pips sl). After a while, the position reaches tp and it is closed with a gain of 150 pips. Then, on the next bar, MA period 9 is higher than MA period 18 BUT A NEW POSITION IS NOT OPENED. Why? You are using the next trade management feature. A long position was opened and closed, to open a new long position a short position has to be executed before. So this strategy will behave like a ma crossover.
If you use this feature, defining trading conditions is easier. Please take a look at our . There you will find a simple ma ea, a simple ma ea that uses the next trade management feature that behaves like a ma crossover.
Features released on August 22,2011
- Martingale (Money Management)
Martingale is our latest money management feature. To use it go to the Trading Diagram menu, and click on Show/Hide Money Management to see the icon MM. Click on it and then set the martingale parameters. A normal martingale in forex will double your lot size after a loss. We added some interesting options for you in the new Martingale icon:
-Martingale Multiplier: Instead or just doubling the lot size you can control the lot size using the martingale multiplier. If the multiplier is equal to 2, the lot size will double. If it is equal to 1.5, the lot size will increase 50%. It's up to you to define how you want the lot size to grow.
-Normal Martingale, Anti Martingale and Semi Martingale: The normal martingale increases the lot size after a loss, the anti martingale increases the lot size after a profit. SemiMartingale is a martingale where you control the lot size (in our case using the martingale multiplier). A mixed martingale is also available where the lot increases after a loss and after profit.
-Maximum lot size to control the martingale feature.
Martingale should be used with care. We do not recommend to use martingale with a real trading account since it is too risky.