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WAE Trading - Adjustable Settings Explained

Please note that each symbol you wish to trade will require different parameter settings and when you have chosen the symbol you would like to use then your next step is to adjust the cBot settings to achieve your desired results, this is often down using cTraders optimisation module. Important Settings are highlighted in orange

 

Default Stock Parameters Included

The download contains the default example parameters so that you can start trading, you will need to load them into your trading robot, follow the link below for instructions.

 

General Settings

The general settings for the trading system will consist of the symbol & timeframe that you wish to trade with, the adjustable settings are shown together with explanations.

 

cTrader Waddah Attar General Settings

 

Instance Name

This setting will allow you to run the same multiple symbol instances with different parameter settings at the same time independently, it is also the name used in the label shown in the history tab so you can filter all your automated trading systems and only show trades for this product.

 

Send Signals

This is the master switch to turn on or off the Telegram and Email notifications when there is a signal for entering a trade.

 

Wait Next Trade

If this is set to YES then when the robot is first started the first signal to open a trade is ignored, it will wait until the next trade signal, this is to prevent a trade opening when the robot first starts at the end of a trading cycle. 

 

Buy & Sell Only

If you choose No, the robot will exclude all trades in the direction specified, having them both set to Yes, will allow the robot to open both Long & Short trades.

 

Lot Size

The position size in Lots for all new trades that are submitted to open.

 

Take Profit & Stop Loss

This is where you specify your fixed stop loss and take profit values in pips, this type of trading system benefits from advanced risk and profit management, so you may leave these set to zero (0) which disables this feature, but you have the option to set fixed values.

 

Debugging

As this is a community project you can turn debugging on so that you can check if the entry and exit signals are correct, which this feature turned on your can also see a vertical line placed on the chart when there is a trade signal.

 

Risk Limiters

This controls your account protection against losing all your money while you are not watching your trades.

 

cTrader WAE Risk Limiters

 

Max Spread (pips)

This is the maximum spread allowed for a symbol before the robot stops opening positions, this is very useful if you have a small grid distance value and when the spread is very high due to low liquidity.

 

Equity Stop

This feature is very useful to prevent you from blowing your account if the system starts to lose too much, you set the value to the amount that you want the robot to stop and close all positions when your account equity including all open losing positions drops to the value you have set.

  • Equity stop set at 500, as soon as your account equity reaches or drops below 500, the robot will stop and all open positions will close. The account equity includes all open trades in negative or positive balance.

 

Balance Stop

This will stop the robot and close all open positions when your account balance drops below the value you have set, it is very useful to help prevent losing your capital.

  • Balance stop set at 1000, as soon as the balance of your account is below or reaches 1000 then the robot stops and all open positions will close. There may be open positions which have a negative value that will cause a loss and the final balance to be lower than the pre-set balance stop value.

 

Waddah Attar Entry Signals

The core of this trading system is the Waddah Attar Explosion indicator and this is what is used for the targetted entry signals, the system also uses various trend indicators to determine the chosen timeframe trend.

 

cTrader Waddah Attar Entry Signals

 

Sensitivity

This relates to the explosion line value, the lower the number the less sensitive it is, the higher the number the more sensitive the explosion line is to change.

 

Fast & Slow EMA

This is the fast and slow Exponential Moving Average values that are used in the calculation for the WAE indicator.

 

Channel Period

How many bars or periods back does the indicator look for the calculation.

 

Channel Multiplier

A multiplication value used for the channel calculation.

 

Channel Smoothing

A smoothing value used for the channel calculation.

 

DeadZone Multiplier

A multiplication value used for the dead-zone calculation.

 

DeadZone Period

The is the value for the deadline, the higher the value the higher the deadline.

 

Entry Bars [1-5]

This is the number of bars allowed to enter a trade; if the value is set at 2 then there must be 2 WAE same side-bars above the explosion line for a trade signal to open a position.

 

Exit Bars [1-5]

This is the number of bars allowed to exit a trade; if the value is set at 2 then there must be 2 WAE same side-bars above the explosion line for a trade signal to close a position.

 

Exit Signal

This setting allows positions to close when the reverse signal occurs with the WAE indicator or when the same sidebar drops below the explosion line.

  1. None - trades are not closed using the WAE explosion indicator.
  2. Standard - this uses the recommended method to close trades by Waddah Attar which is when the same side-bar drops below the explosion line.
  3. Reverse - this is when there is an opposite signal to buy or sell from the WAE indicator. This method provides the best results.

 

Super Trend Signals

The super trend indicator is used to filter out trends in the opposite direction, so a buy trade will only open if the super trend indicator shows a bullish signal. One other setting you see at the top is not related to the super trend indicator, but we added it here to view easily.

 

ctrader super trend signals

 

ATR Entry Filter

This setting is an added filter that if selected will only allow trades to open when the WAE indicator identifies a buy or sell opportunity when the average true range price is below the symbol price for a buy signal and above the symbol price for a sell signal.

 

ctrader average true range filter

 

In the picture above the super trend, the indicator is showing a bullish signal, but the average true range line is above the symbol price, this filter will prevent any by trade from opening, we use the ATR indicator for a trailing stop, so for a buy position, the stop loss would be below the symbol price and not above as shown in the picture.

 

Activate Filter

If you set this to no then the trend filter indicator is turned off, if set to yes then the super trend indicator must show the correct trend for a position to open.

 

MA Period #1 & 2

These are the periods used for the super trend calculations.

 

MA Type

This allows you to choose from 7-different types of moving averages.

 

Confirmation Dots

In order to make sure the trend has changed you have the option to set the number of confirmation dots before it shows a bullish or bearish signal.

 

DiNapoli Stochastic Indicator

This is a very special indicator that is used with some of our premier products and has proven itself over the years, in our opinion it is one of the best trend indicators due to its special calculation of identifying price reversals and fake price reversals.

 

cTrader WAE DiNapoli Indicator

 

Fast K, Slow K, Slow D

These are the parameter settings for the DiNapoli indicator for the fast and slow stochastics.
 

Cross-Over Distance

This is the distance between the signal and result line when the signal line crosses above or below the result line which identifies a trend reversal.

 

Entry Time-frame

This is the main entry timeframe for the indicator and it will signal bullish or bearish trend signals based on the timeframe.

 

Oversold

If the signal or result line drops below this value then the symbol is seen as oversold, so a sell trade will be blocked.

 

Overbought

If the signal or result line rises above this value then the symbol is seen as overbought, so a buy trade will be blocked.

 

Average True Range Trailing Stop

This is a key component of the trading system to manage risk as well as lock-in profits, the idea is that the stop loss will trail behind the symbol price based on the average true range calculation.

 

cTrader Average True Range Settings

 

On Bar Close

This allows the stop loss to be adjusted based on the ATR indicator at the close of each candle, if this is set to NO then the stop loss will be adjusted on every price change to tick, this is not advised.

 

Max Pips

As the average true range line may be calculated far from the price with higher timeframes, you may not want a stop loss too big which may eat up your account, so you can set a limit of maximum pips allowed.

 

MA Type

Choose from 7-different moving averages.

 

Period & Weight

Values used for the indicator calculations. Adjust these settings for a tighter stop loss.

 

Use High & Low

This allows the ATR to use the last swing high or low values for the trailing stop loss.

 

Standard Trailing Stop Loss

A trailing stop is a useful feature to use, the take profit target will trigger when the position is gaining (x) pips and also trail behind the price by (x) pips, if the price retraces too far it closes the position and locks in your profit.

 

ctrader trailing stop

 

Trailing Stop Trigger

This the value in pips when the trailing stop is activated.

 

Trailing Stop Step

This is the value in pips that the take profit target will follow behind the symbol price.

 

Break-Even Stop Loss

A break-even stop-loss feature will move your stop loss to a price where there is no longer any financial risk when the position is in profit and winning, there is also an option to add extra pips to gain a locked-in profit.

 

cTrader Smart-Grid Break-even

 

Trigger (Pips)

This the value in pips when the break-even is activated.

 

Extra (Pips)

This the value in pips that the stop loss will move to lock-in profits.

 

News Event Manager

We have included this product for free to allow you to avoid trading during high impact news events, for more information on how to configure the NRM product, please follow the link below.

 

Telegram Notifications

In order for the software to send Telegram messages to your Telegram bot on your PC or mobile phone, you will need to find your Token and ChatID, we have created a detailed support page to help you create a telegram message bot account if you are new to the Telegram messaging service.

 

To send messages to a Telegram group just add a minus to the start of the ChatID, example: -82798983

 

Bot Token

Enter your token here, you can find this by following the instructions above.

 

Chat ID

Enter your Chat ID here, you can find this by following the instructions above.