All about MiEA 5

On this page we will understand in detail all about MiEA 5 – 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 5.5

Entry point:

The input is based on a candle analysis. The entry point depends on the time frame (parameter TimeFrame), as well as on the parameter PipsStep_, it can be configured separately for each pair. Consider the entry point on the graph:

Red indicates SELL entry point, blue indicates BUY entry point.
Entrance conditions:
If the price on the candle (0) is greater by PipsStep_ pips than the High candle (1), EA receives a signal to open BUY. For the SELL entry point, the opposite is true. The parameter PipsStep_ adjusts the minimum amount of price movement per bar to generate a signal, by which the larger the value, the fewer warrants and the more “long” candles EA takes for the signal.

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 5:

Version 5 is as effective as possible with a pronounced trend. Since in essence the entry point is a sample of the previous candle, for version 5 a soft, progressive trend or strong movements in the same direction will be perfectly suitable. Of the weaknesses, it is certainly likely to enter at the completion point of the trend or in other words at the reversal point of the market, behind the previous trend.

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