Follow these steps and you we be using HYBRID in no time...
Step 1: Unzip the files and extract them to the desired folder you want them in.
Step 2: Go to the HYBRID_V1.EX4 file and right click on it to copy it.
Step 3: Open MT4.
Step 4: Click file-> Open Data Folder-> MQL4->Experts
Step 5: Right Click an open area and Click paste.
HYBRID SHOULD NOW BE READY TO USE!
Here is every input within the HYBRID EA and how to use each...
Lots are the amount of "lots" you want to invest. It is set at the minimum 0.01 as default. Change to whatever you prefer
Next you will see 2 "MagicalNumbers". These are 6 digit trade IDs for a buy or a sell trade. If you are using HYBRID on more than one chart, be sure to change these numbers on each chart, otherwise the EA will not open multiple orders that have the same MagicNumber.
Trend opening means that you want the EA to open trades using Trendlines that you have drawn. Change the Value from 0 to 1 to turn it on.
RSI opening means that you want the EA to open trades based on the RSI settings you have input. O means it is OFF and 1 means it is ON.
Price trading means you want the EA to open trades using specific prices you have input. 1 is on 0 is OFF.
MACD trading means that you want the EA to open trades based on the MACD settings you have determined. 1 is ON 0 is OFF.
NOTE: All of the above types of trading can be on at the same time. Most of the time though, you will likely only use one or two.
Close using AutoStoploss. This means that the EA will close if a trade has moved in the opposite direction than desired, by a certain amount of "Price"(predetermined by you)
Close using Trendlines. The EA will use your trendline(s) and your "TrendCloseBars" to decide when to close your open trade(s). 1 means ON 0 means OFF.
Close using RSI. The EA will use your RSI settings to close open trades. 1 means ON 0 means OFF.
The EA will close trades when the Bid hits your price targets for closing. 1 means ON 0 means OFF.
The EA will close when the MACD requirements are met. 1 means ON 0 means OFF.
Set the distance a buy trade can go downwards before closing. Here are two examples..
1. EUR/USD: If you wanted a EUR/USD trade to close, if the Buy trade goes downward by .005, simply type in .005.
2. Cocoa: If you want to allow $10 in price reversal, before Autoclosing buy trades for Cocoa, set the Autostoploss for Buys value at $10.
AutoStoploss for Buy trades is based on the ASK PRICE /b> because the ASK price is where your trade opens from. AUTOSTOPLOSS MUST BE ON for this to work.
NOTE: You are setting the actual amount in the selected Symbol. This does not mean that the EA will stop out if you have lost $10 of your balance, but if the actual price of Cocoa has gone down $10.
AutoStoploss for Sell trades works the same way, except is based on the BID's PRICE MOVEMENTS. AUTOSTOPLOSS CLOSING MUST BE TURNED ON for this to work.
TrendBuy is named as BUY, by default. It is probably easiest to leave this as is.
Whatever this name is though, is what the EA will look for to open trades with Trend.
So, if you draw a trendline that you want to open Buy trades with, it has to be named BUY, the same name as TrendBuy is named BUY (ALL CAPS)
NOTE: The BUY trendline works as follows... The previous bar has to have touched or gone through the trendline and the current bar has to be above the trendline. If the current bar is still below the trendline, the trade will not open until it has come back above it. This prevents you from opening trades when the trendline has actually been broken and is still going down.
The TrendSell works the same as the TrendBuy, except in reverse. If the last bar has touched or gone above the TrendSell trendline and the current bar is below the trendline, the EA will open the trade. Otherwise it will wait to see if the price returns to below the trendline.
The TrendBuyBars value is the bar number, in the past, that had to have been above the trendline in order for the trade to open with a BUY trend line.
The purpose of this is to let you control some minor requirements that could make all the difference.
If you had this set to 50 then a trade could have broken the trendline considerably, without you watching, then on a brief touchback the EA would have opened a BUY trade that would likely be unsuccessful. If you like to open your trend trades with your trendlines touching on the very highest candles route, then a low number works fine, but if you have your trendlines in the meat of the candle peaks then you may want to allow a bigger number, like 25.
TrendSellBars works the same as TrendBuyBars except the value given is the bar in the past that needs to be below the trendline.
This is where you can set how quickly the EA closes a trade if the previous bars Open and Close AND the given bars Open and Close are below the trendline.
If you have 5 as the value for TrendCloseBuyBars and the previous bar has opened and closed below the trendline and the 5th bar previous has opened and closed below the trendline, the trade will close.
If you changed the value to 20, then the previous bar and the 20th bar must both Open and Close below the BUY trendline in order for the trade to close.
This value is the same as above but in reverse based on the SELL trendlines placement.
This is the period the RSI will operate on. 14 is Standard, but you can change it to whatever you like.
Applied price is the price that the RSI indicator will be basing its results on. 0=Close 1=Open 2=High 3=Low 4=Median 5=Typical 6=Weighted.
Rsi shift is the bar number that the indicator will be based on. 0 means the current bar, 1 meaning the previous bar, 10 meaning the 10th bar previous and so on.
Maybe you want to set the EA to open a sell trade 10 bars after the RSI has hit 70. By setting the shift to 10, this can be accomplished.
This means that if the RSI is above the given value, the EA will open a Buy trade.
This means that if the RSI is above the given value, the EA will open a SELL trade.
This means that if the RSI is below the given value, the EA will open a Buy trade.
This means that if the RSI is below the given value, the EA will open a Sell trade.
If the RSI goes higher than this value CLOSE BUY TRADE. Set this value to whatever you prefer.
If the RSI goes higher than this value CLOSE SELL TRADE. Set this value to whatever you prefer.
If the RSI goes less than this value CLOSE BUY TRADE. Set this value to whatever you prefer.
If the RSI goes less than this value CLOSE SELL TRADE. Set this value to whatever you prefer.
If the price goes less than this value... Open Buy trade.
NOTE: There is a built in method for these price based trades. The requirement being that the previous bar close was, in this case, higher than the Buy price. This is to prevent the EA from reopening a trade, if the stoploss was hit.
If a very large drop did occur though and the last bars close was still above the target price, another trade will be opened. This would happen most often on the weekly, daily and H4 charts. So be sure to be aware of your trades.
This works the same as above, except that if the price is less than this value, it will open a Sell trade. Make sure price trading is turned on.
Similar to above, if the price goes greater than this value, the EA will open a Sell trade. Make sure price trading is turned on.
Just like above, if the price is greater than the input price value, the EA will open a Buy trade. Make sure price trading is turned on.
If you have a sell trade open or going to open and want it to close when it hits a certain price... input that certain price here. Make sure price closing is turned on though.
If you have a sell trade open or potentially opening in the future and know where you want it to cut off and close, in the case of the price going up instead of down... Input that cut off price here. Price closing must be turned on.
If you have a target price for your Buy trade to close at, input that price here and be sure to have Price Closing turned on.
If you have a price target to prevent losses on your Buy trade, input that target here. Be sure to have Price Closing turned on.
The standard settings for MACD are fast=12 slow=26 signal=9
You can however, set it to anything you prefer.
This is the period setting for the MACD's fast moving average.
This is the period setting for the MACD's slow moving average.
This is the moving average period of the signal
This is the applied price for the MACD. 0=Close 1=Open 2=High 3=Low 4=Median 5=Typical 6=Weighted.
This represents the number of bars back the MACD should be based on. If you want to have the value of the MACD, from ten bars back, then simply type 10 as the value. The current bar would be 0.
These settings should be set to the same values as above, unless you have specific reason not to.
When you have an MACD Indicator attached to a chart the MAIN and SIGNAL will be on the same values. In coding though, they are done separately to call each as individuals. Since it is able to be customized by the user though, it has been left open, in case you wish to.
If this is turned to on (1), the EA will open a Buy Trade if the MACD MAIN line goes below the MACD SIGNAL line.
If this is turned to on (1), the EA will open a Sell Trade if the MACD MAIN line goes below the MACD SIGNAL line.
If this is turned to on (1), the EA will open a Buy Trade if the MACD MAIN line goes above the MACD SIGNAL line.
If this is turned to on (1), the EA will open a Sell Trade if the MACD MAIN line goes above the MACD SIGNAL line.
If the MACD MAIN value goes above this value, the EA will open a Buy Trade. Negative values are permitted as well.
If the MACD MAIN value goes less than this value, the EA will open a Buy Trade. Negative values are permitted as well.
If the MACD MAIN value goes above this value, the EA will open a Sell Trade. Negative values are permitted as well.
If the MACD MAIN value goes below this value, the EA will open a Sell Trade. Negative values are permitted as well.
This works the same way as the MACD SIGNAL BASED OPENING
Just be sure to have MACD Closing turned to on(1) and the desired type of closing turned to on(1).
This works in the same way as the MACD VALUE BASED OPENING
Just be sure to have MACD closing turned on(1).
Be sure to always have turned on (1) the type of trade openings you want to use and the type of trade closing, if desired.
It is a good idea to preset all of your auto stop-losses, as soon as you attach the EA to a chart. This way even if you want to make it tighter or looser later on you will still have some loss protection.
It is also good to keep a notepad with a specific 6 digit MagicNumbers for each Symbol you trade, in case you accidentally close a chart window and need to reconfigure the EA settings again.
Always remember to name your trendlines that you want to be in use BUY and SELL. Remember to type it in ALL CAPITAL LETTERS. If not, the EA will not use them.
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