Search Knowledge Base by Keyword
MaxR% allows the user to limit the retracement that can happen before the execution of the limit order.
If the spike retraces a higher percentage than the one defined in MaxR%, the EA will delete the limit order.
Think about it this way: Ideally, you want your Fade entry to happen right after the end of the initial spike. You want to catch the first and rapid countermove. If that retracement is already over, your fade becomes riskier since the initial counterspike may already be completed.
Our Default setting is a MaxR% of 20. That means on a spike from 100.00 to 101.00 we would accept a retracement to a maximum of 100.80.
Attention though: in order to filter out retracements of small spikes, any retracement of a Spike smaller than MinSpike is ignored for the calculation of MaxR%. That means a spike must at least be the size of MinSpike in order to count for the MaxR% calculation.