All about MiEA 4

On this page we will understand in detail all about MiEA 4 – 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 4.3

Entry point:

The input to the MiEA 4 is based on a search for price pulses, or so-called “gap” inside the bar. It is difficult to display the conditions of the entry point in the graph, by this I make a schematic drawing:

Imagine a teak plot of a pair, it will be similar to my schematic pattern, where each price change is shown by a black zigzag line. EA each new tick memorizes the price, if on the next tick the price is more PipsStep_  pips, then we get an entry point towards the last tick, if not, we remember the new price and continue to look further.
By adjusting the PipsStep_ parameter of each pair, an excellent entry point can be obtained, with strong movement such as news or any other triggers that push the market in a certain direction.

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 4:

Version 4 is as effective as possible when news is coming out or when the market is in a rather active phase, no matter what state of the market as a whole, trend or flet.
The weak side, as with most trending EA, is the late entry and probability of entry when the targeted movement is completed. This is often the case if you specify an unacceptably large value for PipsStep_.

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