All about MiEA 6

On this page we will understand in detail all about MiEA 6 – entry point, principle of order maintenance, order fixing, as well as strengths and weaknesses of this version.

Attention! Description applies only to the latest version of MiEA 6.2

Entry point:

The input is based on a candle analysis. The settings have a PipsStep parameter that is responsible for the accuracy and frequency of the signals. Consider the entry point on the graph:

Red indicates SELL entry point, blue indicates BUY entry point.
Entrance conditions:
If the candle (0) grew, if the body of the candle (0) Close-Open is larger than all the previous candle (1) High-Low for the PipsStep time, the BUY signal is generated once the candle (0) closes. For SELL conditions, the opposite is true.
PipsStep adjusts the value of the plug (0). If the PipsStep value is small, there will be more signals but lower input accuracy and vice versa, the greater the value, the smaller the entry points and the greater the accuracy. Version 6.2 adds a parameter MinPips sets the minimum value of the candle (0) in the pips to avoid bars with a size of 1 pips at night or at very low volatility.

Support of warrants:

Almost all MiEA have the same support. Orders are increased in case of repeated signal towards the first input. A minimum _Step distance is maintained between orders and can be configured separately for each pair. In the same way, the trading panel allows you to set the mesh on/off towards the profit and towards the loss (a detailed description of the functionality of the trading panel)
An important parameter accompanied by UseUPlot warrants. He is responsible for including lot magnification when the position is increased. If enabled, an initial lot will be added to each new warrant. For example, the first lot 0.01, the second 0.02, the third 0.03…. Ninth 0.09 and so on. This feature perfectly helps to speed up the capture of warrants, but at the same time is dangerous in case of unsuccessful entry against the trend.

Fixing of warrants:

The profit capture is tied to the volume of open orders. The more warrants are open, the more their lot amount, the greater the profit. The ProfitPips parameter is responsible for the profit amount. Profit formula: Amount of lots * ProfitPips.
Once the total profit reaches the desired value, the EA closes all its warrants.
Also in the settings there is a parameter StopLossProcent is responsible for the amount of loss as a percentage of the balance sheet. I highly recommend to determine for yourself the permissible amount of loss which you can receive and use necessarily.

Strengths and weaknesses of MiEA 6:

Version 6 is as effective as possible for long protracted trends. Great for work at the moment of news release, and other movements in a certain direction.
Weaknesses, is the likelihood of entering the market reversal point in the direction of the previous movement, at the peak when the big bar completes the trend. Due to the number of pairs and fine tuning of the entry point, it is difficult to get into such a situation, but such a situation is possible.

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