Greetings fellow forex roboteers (heh I think I just invented a new term.) Some of you who use the Forex Crescendo EA (like moi) may be curious to know what the best settings are. The defaults that come with the EA are NOT the settings now recommended by Crescendo’s author. I’ve done some digging and I’ve uncovered the recommended settings. So here they are:
FOR GBPUSD
use_mtf_trend = true
trend_threshold = 3
close_on_counter_trend = true
counter_trend_threshold = 5
dd_based_frequency = false
trend_following = false
GMT Shift = -1 (or +11, is the same)
FOR GBPJPY
use_mtf_trend = true
trend_threshold = 3
close_on_counter_trend = true
counter_trend_threshold = 5
dd_based_frequency = false
trend_following = false
GMT Shift = +1 (or -11, is the same)
You may notice that your version of the EA has the “close_on_counter_trend” variable set to “false.” This was setup that way in previous version of Forex Crescendo because as they upgraded the EA many people still had trades open on the account. In order to prevent the EA from closing those floating positions at a loss they’ve set that variable to false. Now though you should set that variable to true if you’ve got no floating trades left over from a previous version.
Like I said in a previous post, I’ve been testing this EA on a live account (FXDD) and I will be reporting my findings here and on the forex crescendo forex robots forum thread. I anticipate that my next performance update will be posted in about a week or so.
Ok, that does it for this post. I wish you all the best of luck with your Crescendo trading.
Cheers,
Alan