PROFIT ZONES INSTALLATION GUIDE

Transcription

1 PROFIT ZONES INSTALLATION GUIDE Downloading and Installing: From inside the Member's Area, on the Profit Zones Member's page, simply click the large orange button to begin the download. After clicking the button, the Install will begin. It should appear in your browser window (bottom left with Google Chrome or Top Right with Firefox). Click the.exe file to continue the installation and give it permission to Run

2 By giving it permission to run, you will bring up the Installation Wizard. At this point, you'll need to be sure that all MT4 terminals on your PC are closed. MT4 should not be running during the install. Click Next to go through the process and Agree to the Terms and License Agreement.

3 **Be SURE, that the correct MT4 Root Folder shows up during the Install Process. If the correct terminal is not automatically shown, you will select Add a MetaTrader folder and browse your PC to find the correct one. After the right folder is selected, click Next several more times to walk through the final details of your install.

4 Once, the files are installed, click Finish to complete the install and launch your terminal.

5 INSTALLING ProfitZones EA Welcome to the ProfitZones EA from Winner s Edge Trading. The ProfitZones EA places two buttons in the upper right corner of the chart respectively labeled Buy and Sell. After you open a trade on your Metatrader platform, click the appropriate ProfitZones button and the EA will place a zone above and a zone below. Clicking the Buy button will put the orange stop loss zone below the current price and the green take profit zone above. Clicking the Sell button will put the orange stop loss zone above the current price and the green take profit zone below. The green Take Profit zone is a high probability target area and the orange Stop Loss zone is a low probability loss area. Installing ProfitZones on your chart 1. Open a chart on your MT4 platform by clicking on the New Chart button in your toolbar and selecting the chart you would like to open 2. Open the Navigator window on your MT4 platform (if not already open) by clicking on the Navigator button in your toolbar.

6 3. Navigator Window Your Navigator Window may have more, fewer or different Experts listed - depending on what experts are installed in your platform. If the Expert Advisors section is not expanded, click the Plus Sign (+) to the left of the words Expert Advisors to expand it. 4. Click on the ProfitZones EA in the Expert Advisors listing of the Navigator window and drag and drop it on your chart. The ProfitZones Dialog box will appear showing the version of this instance of the EA. Click OK to continue.

7 5. The Buy/Sell buttons of the ProfitZones EA will appear in the upper right corner of the chart. 6. To adjust the size of the Buy/Sell buttons, click on the chart and hit the F7 key on your keyboard. You will see the ProfitZones Dialog box. This is the same dialog box that appeared when you installed the EA on your chart.

8 7. Click the Inputs tab near the top of the dialog box to see the Inputs dialog. 8. Double-click the value (in this case 1) for the ButtonSize. You can enter =tiny, 2=small, 3=medium, 4=large. Then click the OK button to close the dialog. The buttons will adjust in size appropriately.

9 This completes the installation of the ProfitZones EA. You will need repeat this procedure for each chart on which you would like to use the ProfitZones. Using the ProfitZones EA Typically, to use the ProfitZones EA, you will also want to use the One-Click trading dialog (part of the MT4 platform), this will allow you specify a trade size in advance, open a trade with a single click and adjust the take profit and stop loss to within the ProfitZones suggested zones. To use the One-Click trading dialog, click on the tiny triangle in the upper left corner of the chart. This will display the One-Click Trading dialog in the upper left corner of the chart.

10 The dialog shows the current bid/ask spread and will be red if the last market tick was down and blue if the last market tick was up. The number in the center top is the current trade size in platform lots. You can click on it and enter the appropriate value or click the arrows to the right and left to decrease and increase the value respectively. When you are ready to enter a trade, click the Sell or Buy and your position will be entered. The first time you do this, you may get a dialog box that requires you to OK the use of oneclick trading in your platform. To use the ProfitZones EA on your open trade, click the appropriate Buy/Sell button in the upper right corner of the chart that corresponds to the direction of the trade you just opened. If, for example, you entered a buy trade, clicking the Buy ProfitZones button would put a green Take Profit zone above your position and an orange Stop Loss zone below your position.

11 Buy Profit Zones Conversely, if you entered a sell trade, clicking the Sell ProfitZones Button would put a green Take Profit zone below your position and an orange Stop Loss zone above your position. Sell Profit Zones

12 You can then drag your Take Profit line and your Stop Loss line to a point within the appropriate zone. You may want to put your Stop Loss line past a significant support/resistance level (so the market will have to do more work getting past that level) and your Take Profit line ahead of a significant support/resistance level (so your Take Profit will be hit before the market has to work to get past that level.) The ProfitZones are always calculated from the current active price and the current ATR, so they will change size and position from minute to minute. If you have any questions regarding strategies using info@winnersedgetrading.com.