Important: The FiveDimensions expert advisor has to work on only one chart
After big profit use pause time
Starting point in Elliott waves circle
Which symbol is preferable?
When the market makes flat correction
FiveDimensions expert system is working under MetaTrader platform and you are free to use all the power of the MetaTrader client. For example you can stop or start the FiveDimensions system at any time or you can close any opened order if you decide to take profit. In addition you can require confirming any operation of the system before execution or you can let the system work entirely unassisted.
As you know there are no iron rules for any time but if you are familiar with Elliott waves and if you use Five Dimensions expert system you will be the winner.
Here you can find some of our observations (not rules for best use) that will help you to understand more of the internal properties of the FiveDimensions expert system. That will help you use it more efficiently.
Important: The FiveDimensions expert advisor has to work on only one chart per account. The system uses global variables and if the expert advisor works simultaneously on two or more charts it is possible the global variables values to be shared between the charts. This will cause the wrong system decisions and behavior.
Deposit. If MaxTrades=21 we recommend a trading account of no less than:
• $5,000 (based on $100 margin required per open position, i.e. 0.1 lot per order);
• $20,000 (based on $400 margin required per open position, i.e. 0.4 lot per order);
• $50,000 (based on $1000 margin required per open position, i.e. 1 lot per order).
The system will open more orders if the market gives enough space (trend) for this. These are the best cases for the system.
The above recommendations will not require more thаn 40% of your deposit even if the max number (21) of orders are opened. In the worst cases the system uses most frequently 5-8 orders, i.e. the risk amount will be about 10%-16% of your capital.
Best results the system demonstrates (as you can expect) are on 1, 3, 5 or c Elliott waves. See the AT&CF indicators page and use their interpretation rules to recognize trends, market waves and corrections.
Worst results the system produces when the market is a flat (the market breathing). That corresponds to wave 4 and flat correction (not a zigzag) by waves a, b, c, d, e. If you can recognize especially 4 or b or d Elliott waves you can stop the system. Let it breath together with the market. See the AT&CF indicators page and use their interpretation rules to recognize trends, market waves and corrections.
Orders close. The system is using Fractal Trailing stop and Constant Trailing stop techniques to stop opened orders. Our tests show that these stop techniques provide the system with enough flexibility to skip some price fluctuations in reverse direction. This allows the system to use as more as possible from any trend. From another side when the market is breathing (makes a correction), the prices reverse quickly and the trends do not propose enough space for generated orders. Fractal stops in these cases are far away and the result is loss. Hence, once again: Let the system breath together with the market.
After big profit use pause time. As you can see on the history page the system can generate much money for a few (1 or 2) days. This always corresponds to the 1,3,5 Elliott waves. If you are familiar with Elliott waves you know that the time from the picks of 2 and 4 wave is most frequently 1.382-1.618 times longer than the time from the picks of 1 to 3 waves or time from wave 5 to wave c is most frequently 0.618 times from the 0->3 waves time. Hence it is a good idea to stop the system for some time after big profit has been earned. See the AT&CF indicators page and use their interpretation rules to recognize trends, market waves and corrections.
Peaks. If you can recognize the peaks of the prices, you can stop the orders better than the system in some cases. But you have to know that in other cases when the used peaks are not the last in the trend you will loose future gain due to premature closing of the first orders.
Starting point in Elliott waves circle. If you can recognize zero point of the new sequence of the Elliott waves, start the system and let it go further and do everything at least to the wave 3. You will be impressed from the result. Try to compete with the system in these cases! In more of the cases the winner will be the system.
Periodicity. Our tests in backtest or real mode show that the best performance and stability the FiveDimensions system shows on H1, H4, D periodicity. The best stability the system shows with periodisity=D.
Which symbol is preferable? The system is not optimized for some symbol or instrument. You are free to use it on any symbol available from your broker. We have not tested the system over the all instruments but best results it has shown on EURUSD, EURJPY, NASDAC symbols (e.g. #QQQ), #DIA, #SPY etc.
When the market makes flat correction (e.g. that happens frequently on wave 4 or after 5-th wave) it is a good idea to close all opened and delete all pending orders and then stop the system until the correction ends. Another approach to minimize the losses until considered corrections are in progress: set the CloseOnFixedBack parameter to 1. In this case the system will close any order if the loss (in points) exceeds average bar length (average is calculated on 34 bars behind). See the AT&CF indicators page and use their interpretation rules to recognize trends, market waves and corrections.
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