Forex Racco V2

About Forex Racco V2 below Q&A is here -> https://fx-on.com/community/once.php?c=586 Please direct any questions to FX-ON Support. ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■ The version update (V2.61) was performed on August 29, 2012.　Please click here for the latest version. In addition, a version with A version with indicator buster is now included. You can choose to use either the standard version or the version with the buster. Please note that they cannot be used at the same time. The old 2.32 version is also included. ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■ ------------------------------------------------------------------------------------------------ Major changes in V2.30 The moving average close function is now available (default: set to "Use"). TimeOut (change to close) time has been changed to 60 minutes (default value). The maximum number of positions held has been changed from 5 to 3 (default value). ------------------------------------------------------------------------------------------------ Racco V2 Features The risk of drawdowns is small because Racco V2 uses a long time frame (30 minutes) to determine the direction of the trend (forward direction) and a short time frame (5 minutes) to enter the opposite direction. The stop width is narrow (about 52 pips: 50 + spread), and unrealized losses are small, so it is possible to raise the lot size. However, be careful when using Japanese brokers that require a large margin due to leverage restrictions. Additional function added since V2.30] The close function using moving averages detects trend changes in the 5-minute leg and closes the trade. This reduces the frequency of getting stuck at stops (note, however, that not all stops will be stuck). The close function is used to detect and close a trend change in the 5-minute trend line. The TimeOut (change to close at the open price) function will close positions between the open price and the limit price if the time (minutes) has elapsed beyond the set time (minutes). The default value is changed to 60 (minutes) in V2.30. *Constant entries are expected to be 5 to 10 positions per week. (*Please understand that depending on market movements, there may be very few entries.) The default is to use compound interest, but it is also possible to set a simple interest rate to steadily accumulate. (Please conduct a back test and use your preferred settings.) ) *To prevent positions from being carried over to the following week, new positions are restricted after 8:00 p.m. on Friday night (Japan time), and in the unlikely event that a position is held, it will be forcibly closed at 2:00 a.m. (Japan time) on Saturday. (The time has been changed since V2.30) *Please consider closing your positions manually in the unlikely event that a position remains open due to an error or other reason. The "Reverse Martingale" function is now available (Default: Not in use). The difference from a general martingale is that the reverse martingale increases the number of lots in the next entry when the profit/loss of the previous trade ends in the positive. This function is very effective for EAs that are on a steady upward trend. While the winning streak continues, the number of lots is increased to build up profits, and when the losing streak ends, the number of lots is returned to the original number to prevent losses from increasing due to consecutive losses. ------------------------------------------------------------------------------------------------------ ★ Parameters that can be set MAGIC：11200 Slippage：3 CountDownMode ：false True if the vendor uses the countdown ordering method. mm：true (true: compound interest, false: simple interest) risk：3 (If the profit/loss of the initial position is negative when mm=true is set, the lot is automatically calculated so that the loss is equal to the Risk% of the excess margin) LOTS：0.1 (The number of lots for simple interest operation. This value does not work in the case of compound interest operation.) maxtrades：3（Total number of positions including additional positions) takeprofit：8 (pips of the limit value, from which the spread is subtracted) stoploss：50 (Stop pips, from which the spread will be added) rev_martingale：false (reverse martingale, true: used, false: not used) multiplier：1.5 (When the reverse martingale function is true, the number of lots for the next entry is multiplied by multiplier if the previous trade settled positive.) If the initial lot size is set to 0.01, the function will not work unless multiplier is set to 2 or more. martinlimit: 3 (When the reverse martingale function is true, the number of lots is increased up to "martinlimit times" the initial number of lots.) use_MA_close：true This is the function to close a position using the moving average. true = use, false = do not use. This function is used to reduce the percentage of stop loss. Overbought: 74 (The value of the RSI filter. If it is higher than this value, enter with Short) oversold: 27 (RSI filter value, when less than this value, enter with Long) ------------------------------------------------------------------------------------------------------ ↑upUpdated on March 05, 2012 ******************The following is for the explanation of the previous version: ************************** This is a non-numping, non-martingale, 24-hour EA for EUR/USD (5-minute) reverse scalping. The default setting is compound interest operation, but it can also be set to accumulate steadily with simple interest. (Please conduct a back test and use your preferred settings.) □ This EA determines the direction of the trend (forward direction) on the long time leg (30 minutes) and enters the opposite direction on the short time leg (5 minutes). □ TP=8 (number of pips for limit), SL=50 (number of pips for stop), and the stop value is not very deep, so unless the number of lots is too large, you will not have large unrealized losses. Therefore, with a low lot (0.01 lot, 1000 currency unit), you can trade even with a very small amount of money ($500). □ The system is set up to hold multiple positions, which means that while an entry signal is given, positions are increased until the value specified in maxtrades is reached, and not to be naunted (single position with maxtrades=1). □ To avoid carrying over positions to the following week, new positions will be restricted after midnight (Japan time) on Saturday, and in the unlikely event that a position is held, it will be forcibly closed at 4:00 am early Saturday morning. □ For those who wish to trade aggressively, a "reverse martingale" function is available. The difference from a general martingale is that a reverse martingale increases the number of lots in the next entry if the profit/loss of the previous trade ends up in the positive. This function is very effective for EAs that are on a steady upward trend. While the winning streak continues, the number of lots is increased to build up profits, and when the losing streak ends, the number of lots is returned to the original number to prevent losses from increasing due to consecutive losses. The variables that can be set are as follows MAGIC：11200 SLIPPAGE：3 mm (true: compound interest, false: simple interest): true If the profit/loss of the initial position is negative when risk mm=true is set, the lot is automatically calculated so that the loss is equal to the Risk% of the excess margin: 3 Lots (number of lots for single interest operation): 0.1 max trades (total number of positions including additional positions): 5 takeprofit (pips of limit): 8 stoploss (pips of stop value): 50 rev_martingale (reverse martingale) (true: used, false: not used): false ■multiplier (When the reverse martingale function is true, the number of lots for the next entry is set to "multiplier times multiplier" if the previous trade had a positive settlement. 1.5 martinlimit When the reverse martingale function is true, the maximum number of lots to be entered is "martinlimit times" the initial lot number. 3: 3 overbought (The value of the RSI filter, when it is greater than this value, enter with Short): 74 oversold (RSI filter value, when less than this value, enter with Long): 27

---

11/08/30 17:59 addition
As far as the supported firms are concerned, as long as they are MT4-compatible firms where scalping can be used, I think it will be fine. If you do not use the reverse martingale function, there is no problem even if you do not have a micro account.

---

11/08/31 21:12 addition
Forex.com Japan is now supported. Please set the parameter "CountDownMode" to "True" when using Forex.com Japan or other vendors that use "countdown" orders.

---

11/09/12 00:33 addition
For simple interest operation (mm=false), the value set by lots=0.1 will be the initial lot. In compound interest operation (mm=true), the value is automatically calculated based on the Risk and Stop Loss values, but the maximum number of positions is not taken into account. This EA does not hold more than 3 positions, especially 4 or 5 positions at the same time. Therefore, please note that if all three positions are stopped out, the Risk will be tripled.

---

11/09/12 00:38 addition
For operations on FOREX.com JAPAN, due to leverage restrictions (25x), Maxtrades=3, RISK=3 or less, and if you use reverse martingale (as Martinlimit=3), the limit is about RISK=1. Specifically, with $2,000 in assets and RISK=3, you would enter with 0.12 lot. Considering the leverage restriction (25x), 0.1 lot would require $400 in margin, so 3 positions would be the limit. If you use reverse martingale, then 0.01 lot is the limit.

---

11/09/12 00:54 addition
Reverse martingale will not work unless maltiplier=2 or higher when the initial lot is 0.01.

---

11/09/18 23:02 addition
Upgraded to v2.03. The modification in this version is that the GMT offset value can be set. Please set it according to your broker. This version update is intended to ensure that the function to inhibit the holding of positions across the week functions properly for various brokers.

---

11/09/18 23:06 addition
The following parameters relate to the GMT offset value and should be set according to each broker. WinterGMTshift ：Winter time SummerGMTshift: Summer time NY_summertime ： Please specify "true" for brokers that use U.S. daylight saving time and "false" for brokers that use European daylight saving time.

---

11/11/22 11:17 addition
The results of forward testing using *myfxbook are also available on our blog. http://ameblo.jp/penguin-fx/entry-10595735112.html

---

11/11/24 19:55 addition
Updated to v2.06, modified to allow changing parameter values for overbought and oversold. Note that the recommended values are the default values, so if you do not need to change any parameters, there is no problem with your version.

---

11/11/26 21:55 addition
Regarding TP=8 (number of pips for limit) and SL=50 (number of pips for stop), please note that in this EA, TP=8 and SL=50 will vary depending on the spread. In other words, the limit will be smaller by the spread and the stop will be larger.

---

11/12/15 12:33 addition
Upgraded to V2.09. *The comment section of the EA has been incorrectly referred to as V2.08. Please note that the correct version is v2.09. ■Changes are as follows. In the previous version, when placing an order by countdown, it was found that the TP and SL values could not be ordered properly in rare cases, so we have retried to place the order if it was not placed correctly. In addition, a TimeOut function has been added. The TimeOut function changes the settlement price to the settlement price if the position has not been settled after the specified time (minutes) has elapsed. The default setting is "false" (not used). Please use this function according to your preference.