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4. The “Delete Entry/Exit Rule” button. Delete an entry or exit rule from the trade configuration.
5. The “Add an in/out rule” button. Add a new entry or exit rule to your trade setup.
6. The “Additional Information” button. When pressed, displays additional information about entry/exit rules. This button can also be found in the “Order Execution Statistics” interface, which will display additional information about a specific trade.
7. The “Input Rules Panel” button. Opens the dashboard, where you can add an entry rule to your trade setup.
8. The “Exit Rules Panel” button. Opens the dashboard, where you can add an exit rule to your trade setup.
9. The “Order execution statistics” button. Opens the order execution statistics dashboard, where you can get additional information about a specific order.
10. The “Information Panel” button. Opens the panel that shows the status of entry restrictions and other useful information.
HOW TO ADD AN INPUT/OUTPUT RULE.
HOW INPUT/OUTPUT SIGNALS WORK
For the EA to open/close buy or sell trades, all your input/output rules should allow for this. For example, the EA will not open a buy trade if one of your entry rules does not allow it.
Entry rules:
signal “To buy” – when your entry rule shows this signal, it means that the rule only allows you to open a buy trade.
If you use multiple rules, to open a buy trade, all your entry rules must show the ‘To buy’ signal or a combination of ‘To buy’ or “Both” signals.
signal “To sell” – when your entry rule shows this signal, it means that the rule only allows you to open a sell trade.
If you use multiple rules, to open a sell trade, all your entry rules must show the ‘To sell’ signal or a combination of ‘To sell’ or ‘Both of us’ signals.
signal “Both of us” – when your entry rule shows this signal, it means that the rule allows opening a buy trade and a sell trade simultaneously. Since this type of signal allows you to open both types of trades, it can be combined with the signals “To buy” i “To sell”.
The EA will simultaneously open a buy and a sell when all your entry rules show it “Both of us” signal
signthe ‘No’– when your entry rule shows this signal, it means that the rule does not allow opening new trades.
If at least one of your input rules shows the “None” flag, then no shops will open.
Departure rules:
Exit rules work exactly the same way as entry rules, the only difference is that the EA will close a certain type of orders, instead of opening them.
To close all buy trades, all exit rules must show the “Buy” signal or a combination of “Buy” and “Both” signals.
To close all sell trades, all of your exit rules must show the “Sell” signal or a combination of “Sell” and “Both” signals.
To close all trades (buy and sell), all your exit rules must show the “Both” signal.
If at least one of your exit rules shows the “None” signal, no orders will be closed.
You will remember once again that in order for the EA to open/close a certain type of trade, all your entry/exit rules should allow this.
TYPES OF RULES AND “YES” BLOCKS.
The description of “if” blocks and an example of how they work.
For each indicator there is at least one type of rule. For example, for the moving average indicator, this is a price location relative to the indicator line.
All rule types have if blocks. In these blocks you specify a signal type (“buy“, “To sell“, “Both of us“, “none“), which will be active when a specific part of a rule type is executed. For example, the moving average has two “if” blocks: “If price is above MA” and “If price is below MA».
With indicators that only have one type of rule, everything is quite simple. We continue the example with the moving average and set a “To buy” signal for the block «If the price is above MA», ia “To sell” signal for the block «If the price is lower than MA». Indicator parameters will be standard.
If the price will be higher than the moving average line, the condition of the “If price is above MA” block is met and therefore our entry rule will show a “To buy” signal
If the price will be lower than the moving average line, the condition of the “If price is lower than MA” block is met, and therefore our entry rule will show a “To sell” signal
An example with the Bollinger Bands indicator, which has three types of rules.
With the moving average indicator, everything is simple, but many indicators have several types of rules and some of them have three “if” blocks.
It is important to understand that the EA takes into account the signal of each type of rule and works with these signals in the same way as with the signals in the input/output rules (see “How input/output signals work”). Therefore, the most ideal indicator for further explanation will be Bollinger Bands.
These parameters will be used for our Bollinger Bands entry rule.
Rule Type #1: The first rule type checks the size of the Bollinger Bands channel. With this, we will allow to open a buy trade, when the channel size is greater than 600 points and we will allow to open a sell trade, when the channel size is less than 300 points. If the size of the channel will be between 600 and 300 points, we allow opening both types of operations.
Type of rule no. 2: The second type of rule checks where the price is relative to the upper and lower lines of the indicator. If the price is higher than the upper line, we allow to open a buy trade. If the price is lower than the bottom line, we allow to open a sell trade. If the price is between the upper and lower lines, we allow opening both types of trades.
Type of rule no. 3 – The third type of rule checks where the price is relative to the middle line of the indicator. For this example, we’ll ignore this rule type and set both blocks to the “Both” flag. This way, the third type of rule will not affect the main signal of our input rule.
As with entry/exit rules, if all three types of rules show the “Buy” signal or a combination of “Buy” and “Both” signals, then the main signal for our entry rule will be ‘To buy’.
Rule type #1 shows the ‘Both of us’ signal, because the channel size is between 600 and 300 points, therefore the condition of the block “If BB size is between” is met.
Rule type #2 shows the ‘To buy’ signal, because the price is higher than the upper line, therefore the condition of the “If the price is higher” block is fulfilled.
Rule type #3 will always show the ‘Both of us’ signal, regardless of whether the price is above or below the midline.
Rule types #1 and #3 signals allow you to open a buy trade and a sell trade. However, rule type #2 only allows you to open a buy trade and therefore the main signal of the entry rule will be to buy’.
If all three rule types show the “Buy” signal or a combination of “Buy” and “Both” signals, then the main signal of our entry rule will be ‘To sell’.
Rule type #1 shows the ‘Both of us’ signal, because the channel size is between 600 and 300 points, therefore the condition of the block “If BB size is between” is met.
Rule type #2 shows the ‘To sell’ signal, because the price is lower than the lower line, therefore the condition of the “If the price is lower” block is fulfilled.
Rule type #3 will always show the ‘Both of us’ signal, regardless of whether the price is above or below the midline.
As with the first example, the signals of rule types #1 and #3 allow you to open a buy trade and a sell trade. However, rule type #2 only allows you to open a sell trade and therefore the main signal of the entry rule will be ‘To sell’.
If all three types of rules show the signal “Both”, then the main signal of our input rule will be ‘Both of us’.
Rule type #1 shows the ‘Both of us’ signal, because the channel size is between 600 and 300 points, therefore the condition of the block “If BB size is between” is met.
Rule type #2 also shows the ‘Both of us’ signal, because the price is between the upper and lower lines, therefore the block condition “If the price is between high and low” is fulfilled.
Rule type #3 will always show the ‘Both of us’ signal, regardless of whether the price is above or below the midline.
Since all signals allow opening both types of trades, our entry rule will show the ‘Both of us’ signal and open a buy trade and a sell trade simultaneously.
The main signal of the entry rule will be ‘head’ if one of the rule types shows a “None” signal or if one of them allows opening only one buy operation, and another allows opening only one sell operation.
Rule type #1 shows the ‘To buy’ signal, because the size of the channel is more than 600 points, therefore the condition of the block “If the size of the BB is greater than” is fulfilled.
Rule type #2 shows the ‘To sell’ signal, because the price is lower than the lower line, therefore the condition of the “If the price is lower” block is fulfilled.
Rule type #3 shows the ‘Both of us’ signal
As you remember, the EA will open a certain type of trade only if all the signals allow it. In this example, the EA is not allowed to open a buy trade, because the second rule type only allows sell trades, and the EA is not allowed to open a sell trade, because the first rule type only allows open trades of purchase And so the main sign of the entry rule will be “head”.
CONCLUSION
Well, I hope I have clearly explained how EA works. If you still have any questions, feel free to ask them here or in the comments section.
Good luck in your business!
