The New Multi-Timeframe FxMagnetic EURUSD 2.3
The new multi-timeframe FxMagnetic has been released today and now FxMagnetic EURUSD indicator works on M1, M5, M15, M30, H1, H4, and D1.
With additional timeframes, FxMagnetic became a popular trading indicator on MT4 for long-term traders and for those who aim for smaller wins but more trades.
We cannot call FxMagnetic a scalping indicator and we never aimed to create it for scalpers, but it does work on smaller timeframes now and provides more entry signals than before.
Some timeframes perform better than the others with Winning Rate up to 81% 🙂
You can download the latest version of FxMagnetic EURUSD from the “Download Center” (we’ve sent you the link after purchase). If you do not have it yet, then buy FxMagnetic here.
Settings Mode in FxMagnetic
First, let me introduce you to the new parameter which was essential for this MTF change to happen.
The new parameter is called “Settings Mode” and it has two options:
- Automatically choose best settings
- I will set settings below myself
1) Automatically choose best settings
When “Settings Mode” are set to “Automatically choose best settings” the FxMagnetic indicator will ignore any values you put into the “INDICATOR SETTINGS” section. This means FxMagnetic will choose best settings for Signal Magnitude, Signal Amplitude, Stop-Loss, and Take Profit.
Parameter values are different for each timeframe but you do not need to worry about that because indicator will select them automatically. If you want to know what parameter values indicator is using you can find them in the EXPERTS tab of your MT4 terminal after FxMagnetic is loaded on the chart.
2) I will set settings below myself
When “Settings Mode” are set to “I will set settings below myself” the FxMagnetic indicator will use the values set in the “INDICATOR SETTINGS” section. In this example, the settings would be like we see in the picture above.
FxMagnetic shows consecutive wins and loses
After initial FxMagnetic launch in January 2018, it was a great success and people started talking about how they use FxMagnetic in various ways and send their suggestions for improvements. We realized that a lot of traders apply martingale money management strategies together with the FxMagnetic entry signals. For such trading method, it is essential to know the maximum consecutive loses and wins of the last 100 trades.
That’s what we’ve implemented in the new FxMagnetic.
Martingale method is very risky and we generally do not recommend it, but we know if traders wanna use Martingale they don’t care what we think. When you know max consecutive losses then it is easier to apply Martingale.
For this example, we see 3 maximum consecutive loses. This means for those last 100 trading signals we never had 4 losing signals in a row.
Let me give you an example of how Martingale traders usually use such information.
For the sake of this example let’s use default SL of 55 pips and TP of 90 pips. And to make it easier let’s calculate that 1 pip = $0.1 USD.
They add one extra loss to the number (like an extra buffer) and then apply lot sizing like this:
- Trade #1 – Lot Size 0.01 – LOSS -$5.5 (-55 pips)
- Trade #2 – Lot Size 0.02 – LOSS -$11 (-55 pips)
- Trade #3 – Lot Size 0.04 – LOSS -$22 (-55 pips)
- Trade #4 – Lot Size 0.08 – LOSS -$44 (-55 pips)
- Trade #5 – Lot Size 0.16 – WINNER +$144 (+90 pips)
$144 – $44 – $22 – $11 – $5.5 = +$61.5 USD
It is important to understand that even if the indicator shows 3 maximum consecutive loses, it does NOT mean this will continue to be the correct count in the future. It might change anytime and no one, I repeat no one, can predict it.
FxMagnetic EURUSD stats on all time frames
Let’s take a look at the stats of the last 100 trading signals from FxMagnetic EURUSD on various timeframes.
If FxMagnetic does not show 100 trading signals on your MT4 then it means your MT4 charts do not have enough price bars. To download more price bars in MetaTrader, follow this tutorial: How to show more price bars and candles on the MT4 charts
Note that stats on your MT4 might be slightly different if you are using another broker. It happens because each broker has different price feeds and spreads. We use “FxOpen ECN Live” account for this example.
Also, note that Winning Rate and other stats are constantly changing when markets form new highs and new lows and new trading signals are generated, etc. It does NOT mean that indicator repaints, it just means that when new signals appear the older ones are removed from the memory and indicator calculates statistics based on the last 100 trading signals to give you the most up to date information.
As markets change all the time the indicator is re-optimized to show the best possible entries according to its algorithm. Re-optimization is the essential part of any algorithm. Think like calibration of a compass, hygrometer, scale, or thermostat, etc.
FxMagnetic EURUSD on a 1-minute chart
Small time frames are always a challenge because there is so much noise. Personally, I am not a fan of low timeframes, but I found best possible settings for all of them.
On a 1-minute timeframe indicator shows 50% Winning Rate based on the last 100 signals. This means that half of those trades are winners. Considering that on M1 it uses 27 pips for Stop-Loss and 44 pips for Take-Profit we definitely see a profit of +850 pips.
FxMagnetic EURUSD on a 5-minute chart
On a 5-minute timeframe indicator shows 54% Winning Rate based on the last 100 signals. This means that more than half of those trades are winners. Considering that on M5 it uses 35 pips for Stop-Loss and 47 pips for Take-Profit we definitely see a profit of +928 pips.
FxMagnetic EURUSD on a 15-minute chart
On a 15-minute timeframe indicator shows 53% Winning Rate based on the last 100 signals. This means that more than half of those trades are winners. Considering that on M15 it uses 55 pips for Stop-Loss and 100 pips for Take-Profit we see an enormous profit of +2591 pips.
FxMagnetic EURUSD on a 30-minute chart
On a 30-minute timeframe indicator shows 54% Winning Rate based on the last 100 signals. This means that more than half of those trades are winners. Considering that on M30 it uses 55 pips for Stop-Loss and 103 pips for Take-Profit we see an enormous profit of +3141 pips.
FxMagnetic EURUSD on a 1-hour chart
On 1-hour timeframe indicator shows 48% Winning Rate based on the last 100 signals. This means that a bit less than half of those trades are winners. Considering that on H1 it uses 55 pips for Stop-Loss and 90 pips for Take-Profit we see a profit of +1463 pips. Not as impressive as other time frames, but that’s normal. Some time frames are better than others. Pick the one you like 😉
FxMagnetic EURUSD on a 4-hour chart
On 4-hour timeframe indicator shows 62% Winning Rate based on the last 100 signals. This means we have quite more winners. Considering that on H4 it uses 70 pips for Stop-Loss and 100 pips for Take-Profit we see an enormous profit of +3540 pips.
FxMagnetic EURUSD on a Daily chart
On the Daily timeframe indicator shows 81% Winning Rate based on the last 100 signals. This means that almost all signals won. Considering that on D1 it uses 190 pips for Stop-Loss and 80 pips for Take-Profit combined with a high Winning Rate we see an enormous profit of +2870 pips.
Note that on a Daily timeframe TP is smaller than SL. But numbers say it all – it works!
So, which time frame is your favorite?
I tried your last version of the FXMagnetic Ea. for 7 days. The win ratio was 42 %.
Can I try another demo…
You can try another demo but only on another computer. The system does not allow running a trial version on the same computer.
penso che aver reso FX MAGNETIC capace di lavorare con successo su vari time frame sia stato un lavoro impegnativo e non facile. grazie per il vostro impegno e spero di inviarvi a breve una statistica dei trades personali.
Thanks for sharing 😉
Great work, Rimanatas. I will put this on a demo account for a start on 3 different time frames – H1, H4 and D1 to do some testing. Will provide my feedback once I have some results, or put the accounts on myfxbook. I wish there was an EA I could use. Being full-time employee and in Australian time-zone, I am concerned I will miss many signals if I use it on the lower TF’s.
Thanks for sharing 😉
Hi traders, my favorite timeframe is M30 short term and D1 long term (Martingale too)
Thanks for sharing, Roswitha 😉
Dear Rimantas, thanks for these analyses. Please could you tell me the minimum account size and lot size best suitable for trading the fxmagnetic euro/usd on the daily timeframe?
You can follow my recommendations described in the FAQ section.
But to be more exact, for the Daily timeframe, I would choose at least $300 account with a lot size of 0.01.
It is because 2 consecutive losing trades in a row would bring -$19 x 2 = -$38 loss. It would be too much for the $100 account, but not a big deal for a $300 account.
Hope this helps.
this ea is marti yea…
FxMagnetic is not EA and it is not martingale!
I have had very good experience with this indicators (EURUSD and GBPUSD). Very good results on the M30 timeframe.
One question regarding the setting “Automatically choose best settings”: do you made updates from time to time for the specific settings for every timeframe?
Glad to hear you like FxMagnetic. Yes, we update indicator settings from time to time for every timeframe.
Thanks for this information.
I have one more question. Does this update happens automatically with the mentioned feature or will it mean a new version with new settings?
We release a new version every few months and inform everyone by email. Next update should happen end of August of September 2018.