MiEA 8 is effective in principle, in any market. This version is a good entry point as the trend, and during flat. Weaknesses not yet observed.
On this page we will analyze in detail everything about MiEA 8 – the entry point, the principle of tracking orders, fixing orders, as well as the strengths and weaknesses of this version.
Attention! The description applies only to the current version of MiEA 8.1
Point of entry:
Entrance is based on candlestick and multi-currency analysis at the same time. The starting point is the direction of the last candle on each of the pairs. By default, 9 pairs are involved, of which 7 are directly related to the dollar. The task of EA is to find the initial direction of the price, which is governed by a purely dollar. So the first 4 pairs have a dollar in second place, the pairs at number 5, 6, 7 have a dollar in first place, if we talk about the direction of the dollar, it turns out that if the first 4 grow, then the next 3 should fall. The other two (8 and 9) are directly related to the pair 1 and 2, so we compare their direction with exactly 1 and 2.
As a result, we obtain the formula:
1 – up
2 – up
3 – up
4 – up
5 – down
6 – down
7 – down
8 – up
9 – up
The script used above or exactly the opposite is used for the signal in the opposite direction. Each of the scenarios determines the direction of the dollar and the pairs relative to it. At the next stage, EA analyzes which of the pairs at the time of formation of the analyzed bar was more active (which pair has the longest bar), as a result, we get the entry point on this pair against the direction of movement of the last bar.
Almost all MiEA support the same. Orders increased in case of the second signal towards the first input. Between orders comply with the minimum distance _Step, you can configure it separately for each pair.
Important point! From MiEA 8 you can configure a step in the plus or minus separately, allowing you to more flexible options!
As the trading panel allows you to configure enable/disable grids in the direction of profit and loss (a detailed description of the functionality of the trading panel)
An important parameter in the support orders UseUPlot. He is responsible for the inclusion of lot increase when increasing a position. If it is enabled, then every new order will be added to the initial lot. For example, the first lot 0.01, 0.02 second, third, 0.03…. ninth 0.09 and so on. This feature helps to speed up the fixing of the orders but at the same time dangerous in the event of an unsuccessful entry against the trend.
Profit taking tied to the amount of open orders. The more orders that are open, the more the amount of lots, the greater the profit. Responsible for the profit value option ProfitPips. Profit calculation formula: Sum of items * ProfitPips.
Once the total profit reaches the desired size, the EA will close all your orders.
Also in the settings there is an option StopLossProcent which is responsible for the amount of loss in percentage of the balance. I highly recommend to determine the allowable amount of the loss which you can get and use mandatory.
The strengths and weaknesses of MiEA 8:
Version 8 effective in principle, in any market. This version is a good entry point as the trend, and during flat. Weaknesses not yet observed.