Taranus Light

Taranus Light is lite version of the universal assistant for traders, the Taranus EA for Forex. Taranus Light uses only market orders. The trailing stop features of the EA have been expanded by adding functions from the UTrailing EA. The EA is suitable for both experienced and novice traders.

Features of Taranus Light

• Opens only market orders.
• Two trend-based strategies: using one Moving Average (МА) or two МА.
• Two filters for determining the trend direction - Auto_Trend 1 and Auto_Trend 2.
• Two strategies for the flat using trade levels: breakout and rebound.
• Trailing of "third-party" orders, including manually placed ones.
• Trailing stop for all symbols, that is, for all orders opened in the terminal.
• Configuration of trailing stop by direction, magic number and symbol.
• 4 trailing stop modes: normal, percentage, mobile total.
• 6 trailing stop types: by points, by bar extremums, by fractals, by volumes, by indicators (Parabolic SAR and Moving Average).
• Virtual (hidden) trailing stop.
• Closing orders when the specified percentage of profit/loss is reached.
• The coordinated work of multiple instances of the Taranus Light EA for the total profit or limitation of the total loss.
• Opening and closing orders by time (days, hours, minutes, seconds).
• Sound notification when opening a new order and moving trailing stop.
• "Hotkeys" for quick commands ("Close All", "Delete SL", "Close Profit", "Close Loss");
• Works on accounts with 4- and 5-digit quotes.
• Currency of the current account can be either US dollars (USD) or Russian rubles (RUR).

Parameters (part)

Block 1 «GENERAL SETTINGS»

• Magic Number - magic number. If 0, then only for the orders opened manually. If -1, then for all orders on the current symbol.
• All Symbols, except opening orders! - enable trailing stop for all symbols.
• Direction of positions - trading direction.
• Close, if the Profit! - if the Profit value is positive, the EA will close all orders and stop its operation.
• Close by Stops! - the EA will ignore indicator signals and close all positions only by stop loss or take profit.
• Trailing Stop open positions - enable the trailing stop function.
• Breakeven - enable the breakeven function.
• Profit to enable a breakeven - profit to activate breakeven.
• Level breakeven - breakeven level.
• Pending orders trailing stop - enable trailing pending orders.
• Add Stop Loss - add stop loss.
• Stop Loss value - stop loss value.
• Take Profit - take profit value.
• Slippage - slippage in points.

Block 2 «RISK MANAGEMENT»

• AutoStop - automatic calculation of stop loss and take profit based on the market volatility.
• Coefficient for AutoStop - coefficient 1 means values of the ATR (14) indicator on Н1.
• Lots - fixed lot size.
• Risk in % - AutoLot calculation - automatic calculation of lot size.
• Profit in % - profit percentage by equity, when reached the EA will close all positions and stop its operation.
• Loss in % - limitation on loss percentage by equity, when reached the EA will close all positions and stop its operation.
• Gross Profit - when the gross profit percentage is reached, all positions on the account will be closed and all EAs will stop their operation.
• Gross Loss - when the gross loss percentage is reached, all positions on the account will be closed and all EAs will stop their operation.
• New Start upon opening bar - start of a new operation cycle of the EA, and recalculation of new profit and loss values.

Block 3 «THE TREND» - select the trend direction.

• AutoTrend 1 - automatic detection of the trend direction using the Moving Average (MA).
• Timeframe for AutoTrend 1 - timeframe to determine the trend.
• Slowdown AutoTrend 1 - slowing of the indicator (sensitivity setting).
• Period trend MA - period of the trend moving average.
• Shift trend MA - shift of the trend moving average.
• Type trend MA - calculation method of the moving average.
• Price for trend MA - applied price for the moving average.
• AutoTrend 2 - automatic detection of the trend direction using Awesome Oscillator and Parabolic SAR.
• Timeframe for AutoTrend 2 - timeframe to determine the trend.
• Step Parabolic SAR - step of Parabolic SAR;
• Maximum Parabolic SAR – maximum of Parabolic SAR.

The complete guide to the Taranus Light EA, the .set files and templates can be found in the Comments section.