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If Absolute Prices is set to “false” the EA will use the spike size to determine Min and Max Entry levels for the EA.
Let’s say we are trading the DOE Crude Oil Inventories.
We want to enter against the spike if we see an initial spike of at least 35 and a maximum of 80 ticks during the first 5 seconds.
Our broker shows us that 1 tick in spot Oil is 0.1 points in the price feed of the broker. We can see that because the spread of US_Oil is shown as 0.5 in the instrument list of the MacroTrader.
Thus, in order to create the fade zone between 35 ticks and 80 ticks, we enter MinLevel 3.5 and MaxLevel 8.
If Absolute Prices is set to “true” the EA will use price levels in order to determine Minimum and Maximum condition to activate the EA.
We are still trading Oil. We’ve identified a strong resistance level at 66.12 that we anticipate holding in a NoTrade scenario. As such, our plan is to sell if the market spikes into it in a No Trade scenario. We set our Min Level to 66.08 and our MaxLevel to 66.16 and the ActivateTime to 5.
Now we have defined our fade zone as the area between 66.08 and 66.16