Can someone please explain what number the MACDopenlevel is referring to?
Thank you
extern double MACDOpenLevel=3;
extern double MACDCloseLevel=2;
MACDOpenLevel and MACDCloseLevel are used as limiters.
In the EA they are multiplied by Point (usually 0.0001 on 4 digit currency pairs like EUR/USD) So in the case of the EA was applied to EUR/USD chart the EA would only open an order if the MACD Main is above 0.0003 and it would only close an order if the MACD Main is above 0.0002
sorry, I am a newbie in MQL Programming…
Why are the limiters needed in the MACD buy/sell orders conditions statement?!
It is just a part of the trade criteria, you have to decide what the scenario should be when you open orders and close them, one way of doing this is to say, if the indicator value is above a certain level open a buy order, if it is below a certain level open a sell order etc…