Taranus Light is a shortened version of the universal Taranus EA (there are no trading levels, trend lines, or news trading). The Taranus Light EA can work with or without indicators, has several filters for determining the trend direction, and can only work with market or pending orders. The EA has a multi-level risk management system that protects against losses and preserves the profit received. Designed to work under the trader's control.
Main feature:
Enter the key = 0 – it is enough to enter the numerical key in the field once so that the EA can operate on a real account. After the key is checked, the EA will create a special file which will be stored in the created folder "General_key" (MQL4 -> Files -> General_key). With each new launch, the EA finds the key file itself and checks it for compliance with this account. You do not need to re-enter the key. The key is common to all of our free advisors and indicators that are installed on this account.
If you already have a real account and the key to the real account is activated (see above), then to get access to trading on a demo account, you need to: install the EA on the demo account in the "Enter the key" window, enter your real account number and click OK.
Hot buttons are designed for quick execution of one command. After pressing the button, its color changes, and the button is blocking, when pressed again, removed the blocking and leads to the original state of the button. Any press of the button EA fixes in its log, you can see the current position of the button on the tab "Experts". You can also unblock the button using the new initialization of the EA (for example, switching to another timeframe). In this case, you do not need to press anything, the blocking is removed automatically.
Close All – closes and deletes all orders in the terminal, as well as blocks the work EA, pressing the button again removes this lock.
Close Loss – closes only orders with loss on the current currency pair.
Close Profit – closes only orders with profit on the current currency pair.
Delete PO – deletes all pending orders on the current currency pair.
Delete SL – removes stop loss on the current currency pair from open orders.
Shift + 0 – closes absolutely all trades opened in the terminal and deletes all pending orders. To do it, you need to place the cursor over the price chart, where the EA is running, click on the chart with the left mouse button (select the chart) and then press “Shift” and “0” buttons in sequence. After doing that the EA will not be allowed to trade in the terminal. To allow the EA to trade, press “Shift” and “0” buttons again.
Magic number (automatic) - allows you to specify the EA, which orders (with which magic number) it needs to track. If the magic number = 0, the EA will automatically select the original magic number, which will differ depending on the currency pair on which it is installed. Instead of zero, you can set your magic number. If you put "-1" instead of 0, the EA will take into account and monitor all orders that are on the chart at the moment, including orders opened manually.
Allow opening new orders = true - if you select false, then the EA will no longer open new orders, but all other functions of the EA will continue to work (trailing stop, breakeven, closing percentage, etc.).
Number of open orders = 4 - the allowed number of orders opened by the EA at the same time, the maximum possible number is 100.
Lots = 0.0 – lot volume. It is set manually. If set to 0, the lot volume will be calculated automatically («Risk in % - AutoLot calculation» parameter).
Risk in % - AutoLot calculation = 3 – level of the risk per one trade set in percentage terms. If lot volume is not set, the EA will calculate it by itself. Lot volume calculation depends on the values of Balance and «Stop Loss». If Risk = 5, then it stands 5% of Balance – the allowable loss we can incur, if a stop-loss per one trade is triggered.
Example: if Balance = 100 $, stop-loss = 20, risk = 5, then the allowable loss = 5 $ (5% of 100 $). After 5 $ is divided into 20 (5/20 = 0.25), we obtain a lot volume equal to 0.25. If stop-loss is triggered, we lose 5 $ per one trade (0.25 х 20 = 5 $). If there are 2 orders, then the loss is 2 times larger – 10 $ (0,25 х 2 х 20 = 10 $).
Importantly 1: if you choose to set a stop loss by "Points" if stop loss = 0, then without a stop loss digit the EA will not be able to automatically calculate the lot volume, so it will work with the minimum possible volume for this tool, usually 0.01. If you do not want to use a stop loss, you can manually set the volume of the desired lot.
Importantly 2: if you choose to set the stop loss in a different way (not by "Points"), the EA will calculate the stop loss amount automatically and the lot volume will be calculated based on the received value. In this regard, when using pending stop orders, there may be a situation when (for example, when setting a stop loss for daily high/low) the further the pending order is from the stop loss level, the smaller the lot volume will be. If you are not satisfied with this, you can set the required lot size yourself.
Positions:
Working timeframe: = «1 Hour» - this timeframe will be used for "Indicators", trading levels, and stop loss if the following parameters were selected for setting the stop loss: high/low, fractals, ATR or ATR*2.
Indicators = true - indicators from the "Indicators" block (MA or CCI).
AutoTrend 1 = true - use the trend direction filter - AutoTrend 1.
AutoTrend 2 = true - use the trend direction filter - AutoTrend 2.
Use orders:
Pending orders type:
Stop Loss by: - selecting the stop loss setting method for:
Stop Loss size for points = 30 - stop loss in points.
Take Profit = 100 - take profit in points
Use gross take profit = true - the total averages take profit a few open orders.
Slippage = 3 - value of slippage in points it is better to increase the value up to 5-6 points in the volatile market.
Importantly: the minimum possible level for stop loss, take profit, trailing stop, indentation of pending orders depends on the broker's trading conditions. The EA will automatically correct the underestimated parameters.
Breakeven = true – enables a breakeven, if false - breakeven disabled.
Profit for breakeven = 10 – level of take-profit in points, at which a breakeven is enabled.
Breakeven value = 1 – sets the level, at which a stop-loss must be moved; if set to 1, then the position will be closed, when the profit is 1 point; if set to 0, then the position will be closed with the profit of 0 points, when a stop-loss is triggered.
Close by Stops = false – if this function is enabled (true), the EA will close open positions only by stop loss or take profit, ignoring indicator signals (i.e. closing by indicators will not be). At the same time, the opening of positions can still be carried out on the signals of indicators. Similarly, "Close by Stops" works with Levels and Lines - positions are opened when the trading level is broken through or when the level is rebounded, and positions are closed only by stop loss or take profit.
Close at profit = false – if true, when the profit on this currency pair reaches the set value ("Profit in the deposit currency") all open positions will be closed and all pending orders will be deleted.
Profit, in the deposit currency = 10 - the amount of profit in the deposit currency, when the profit reaches the set value, the EA will close all orders and immediately start a new trading cycle.
Close orders on percent = false - enable closing orders by percentage profit / loss.
Percentage of profit = 20 - closing by the percentage of profit (20 %) from the account balance. When the set percentage of profit, by Equity, on this instrument is reached, the EA will close all open positions and delete all pending orders on this instrument.
If the EA is not disabled, then with the opening of a new daily bar D1, the profit will be recalculated in relative to the new Balance value and the EA will start a new cycle of operation (if there is a trading signal).
Percentage of loss = 50 - closing by loss percentage (50 %) of the account balance. If you receive a loss, set percentage on Equity, on this instrument, the EA will close all open positions and delete all pending orders on this instrument.
If the EA is not disabled, then when a new bar is opened, the loss will be recalculated in the relative to the new Balance value, and the EA will start a new cycle of operation (if there is a trading signal).
Loss limit for the Balance, in percent = 50 - limit the daily loss, calculated on the account balance, from the beginning of the day. If the loss reaches the set value, the EA will stop opening new orders, but continue to monitor the remaining orders in the market. And they will be closed only if the stop loss, take profit or indicator signals are triggered. And in case of profit on an open position, the EA will continue to work trailing stop and breakeven. Opening new orders will be blocked until the trader changes the external parameters of the EA or initializes it (click OK in the EA properties). If you don't want to limit the EA's work with this condition, set the value 100 here.
Indent Stop order from the price = 5 - indented from the price (Bid or Ask) the first stop order in the series.
Distance between Stop orders = 6 - the distance in points between stop orders, the minimum distance is equal to the stop level.
Trailing Stop orders = true - enable trailing stop of pending stop orders, false - disable.
Trailing stop level = 10 - the minimum distance from the price, in points, to the stop order to start the trailing stop.
Step trailing stop = 2 - a movement step of the trailing stop in points.
Trailing after the bar closed = false, if true - pending orders will move only after closing the bar, the period of the open current chart.
_ _ LIMIT ордера_ _ _
Indent Limit order from the price = 10 - indented from the price (Bid or Ask) the first limit order in the series.
Distance between Limit orders = 12 - the distance in points between limit orders, the minimum distance is equal to the stop level.
Trailing Limit orders = true - enable trailing stop of pending limit orders, false - disable.
Trailing stop level = 15 - the minimum distance from the price, in points, to the limit order to start the trailing stop.
Step trailing stop = 3 - a movement step of the trailing stop in points.
Trailing after the bar closed = false, if true - pending orders will move only after closing the bar, the period of the open current chart.
AutoTrend 1 and AutoTrend 2 - this automatic filters for the determination of the direction of the trend using your own independent indicators and on their own timeframe. At the bottom right of the price chart, arrows will appear on the lower information Board indicating the direction of the trend and the timeframe on which the signal appeared. If the arrow is directed up - a buy signal, the arrow down - a sell signal, the arrow horizontally - out of the market.
Importantly: AutoTrend 1 and AutoTrend 2 you can use it not only as filters to determine the direction of the trend, but also independently for normal trading and for opening orders without the participation of "Indicators"or "Levels and lines".
AutoTrend 1: = «1 Day» - choosing a timeframe for AutoTrend 1, select the required timeframe from a drop-down menu using the mouse. If the «current» is selected, then «AutoTrend 1» will automatically operate on the timeframe, which is selected in the open window of the terminal at the time.
Indicator AutoTrend 1: - selecting a tool for determining the trend direction:
Period the trend MA = 34 - period of a trending MA it indicates a trend direction.
Shift the trend MA = 0 - shift of a trending MA.
Method the trend MA: = Exponential - enables selection a method of MA calculation.
Applied price the trend MA: = Close price - choosing prices to calculate the moving average.
AutoTrend 2: = «1 Hours» - choosing a timeframe for AutoTrend 2, select the required timeframe from a drop-down menu using the mouse. If the «current» is selected, then «AutoTrend 2» will automatically operate on the timeframe, which is selected in the open window of the terminal at the time.
Indicator AutoTrend 2:
Step Parabolic SAR = 0.02.
Maximum Parabolic SAR = 0.2.
If the opening price (Open) of the current bar is above the Parabolic’s asterisks, and the current column of the Awesome Oscillator is above the previous one (i.e. the current column is green), it will be a Buy signal, and a blue up arrow will appear on the bottom info panel.
If trading signals of the Awesome Oscillator and the Parabolic indicator diverge apart, then a horizontal arrow of a wheat color (“out of the market”), and all the pending orders set earlier will be deleted.
MA or CCI:
Period the Long MA (One MA, Two MAs) = 34 - period the long moving average.
Shift the Long MA = 0 - shift the long moving average.
Method the Long MA: = Exponential - selection of the moving average calculation method.
Applied price the Long MA: = Close price - choosing prices to calculate the moving average.
Principle of operation one MA - pending orders:
Principle of operation one MA - market:
Period the Short MA: (only for two МАs) = 13 – short MA is only used in the "Two MAs" strategy.
Shift the Short MA = 0 – moving average shift.
Method the Short MA: = Exponential – choosing the method of calculation of moving average.
Applied price the Short MA: = Close price - select the price to calculate the moving average.
Principle of operation two MAs - pending orders:
Principle of operation two MAs - market:
CCI period = 14.
Upper level for Sell = 100 - the upper level of the CCI indicator, for Sell.
Lower level for Buy = -100 - lower level of the CCI indicator for Buy.
Price for CCI: = Typical price - selecting the price for calculating the indicator CCI.
Settings trailing stop for open positions!
Mode selection: – the choice of strategy is the trailing stop, maybe 5 positions.
Trailing stop by: - selecting the type of trailing stop on the instrument can be 7 positions.
Virtual trailing stop - virtual (not visible for broker) a trailing stop, for a trader in the lower right corner of the graph displays information about the position of the virtual stop loss.
Timeframe for trailing stop: = «30 Minutes» - choice of the timeframe by which you want to work with trailing stop (except for Points).
Trailing stop level = 30 - trailing stop level in points.
Step trailing stop = 2 - step of trailing, if the profit is 30 points, trailing will move a stop-loss to 2 points.
Indent from High/Low, fractals, ATR = 2 - the distance in points from the stop loss to the maximum or the minimum of the bar, the fractal or ATR level.
ATR period = 14 - ATR (Average True Range) indicator period, you can adjust the trailing stop distance from the price using "Indent from High/Low, fractals, ATR" by increasing or decreasing its value. If Buy order, then the amount "Indent ..." + the ATR level is deducted from the Bid price. If Sell order, then the amount "Indent ..." + the ATR level is added to the Ask price.
Level of Volumes = 100 - sets the level volumes. Trailing stop is work if columns of a volume histogram are lower than a pre-set level – 100, if the columns are higher than the level, then trailing will be temporarily disabled, until the columns are lower than the pre-set level, for 5-digit brokers automatically increases to 10.
Moving Average Period = 34 - period moving average.
MA Shift = 0 - shift moving average.
MA method: = Exponential - the choice method of calculation of the moving average.
Applied price: = Close price - choosing price to calculate the moving average.
Step Parabolic SAR =0.02.
Maximum Parabolic SAR= 0.2.
_ _Trailing by percents:_ _
1_Reduction in the lot on: = 10 % - the choice of the first percentage for a first reduction of lot size.
1_Take Profit, points = 20 - the first Take Profit after which there will be the first partial closure of the position, reducing the volume of the lot by a fixed percentage.
1_Level breakeven, points = 5 - the first level of breakeven before the first partial closing of the position.
2_Reduction in the lot on: = 30 % - the choice of the second percentage for a second reduction of lot size.
2_Take Profit, points = 30 - the second Take Profit after which there will be a second partial closure of the position, reducing the volume of the lot by a fixed percentage.
2_Level breakeven, points = 10 - the second level of breakeven before the second partial closing of the position.
3_Reduction in the lot on: = 80 % - the choice of the third percent for a third reduction of lot size.
3_Take Profit, points = 60 - the third Take Profit after which there will be a third partial closure of the position, reducing the volume of the lot by a fixed percentage.
3_Level breakeven, points = 20 - the third level of breakeven before the third partial closing of the position.
You can set a period of time, during which the EA operates. After the set period of time has passed, the EA will close all the positions (profitable and losing) and delete all the pending orders. At the start of the new period of time (usually it is the next day) the EA will start its operation again.
Enable time = true – the period of time is enabled, false – the period of time is disabled.
Start of operation time= 00:30 – time, when the EA starts to operate, set in hours and minutes.
End of operation time = 23:55 – the time, when the EA stops its operation, set in hours and minutes.
Close orders at the end of time = false, if true, the EA will close all open orders and delete all pending orders on this currency pair at the end of the trading time.
There are several options of how to set the operation time of the EA.
1st option: usual method – the operation time is set in hours and minutes a two-spot ( : ) between hours and minutes is put.
2nd option: setting up a year, a month, a day, an hour and a minute of start and end of the operation. A point is put between a year and a month, and also between a month and a day, then a space without a pointis put, and afterwards a two-spot (:) between an hour and a minute is put.
3rd option: setting up a day of start and a day of end of the operation are set. A year, a month and a day of start and a day of end of the operation are set up in the EA’s settings. A point is put between a year and a month, but not after a day. the EA will start operation at 00:00 and stop operation at 00:00 on the pre-set day.
4th option: time of start and end of operation can be set within the accuracy of one second! A two-spot is put between an hour and a minute, and also between a minute and a second.
In this case we cannot ensure that the EA will start and stop its operation within the accuracy of one second: it will largely depend on the quality of quotes arriving from a broker and the quality and the stability of your Internet connection.
Sound alerts opening and modified orders = true - allowed beeps, if false, then the sound is disabled.
Language: – the switch of the message language on the information panel on the chart can be Russian or English.
Background: - selects the color background of the chart Dark1, Dark2 and Light.
Font size in messages: - it can be Big or Small.
Show options panel = true - displays text information on the financial status of the account and currently active commands on the chart, if false - does not show messages.
Show hot buttons = true, to remove the "hot buttons" from the chart, select - false.
Importantly: "hot buttons" in the strategy tester do not work!
Deleting objects from the graph = true - allow clearing the chart from unnecessary graphical objects (arrows, modifications of stop loss levels, take profit, etc.).
Delete objects, in minutes = 60 - deleting objects after a set time, in minutes from object creation.
Advice: “Experts” tab in Terminal window can help you understand, how the EA operates.