Signal requirements
The copier supports many signal formats used by most signal providers. We will discuss what types of signals are suited for the copier.
For a signal to be detected following criteria must be detected
| Item | Requirement |
| Symbol/Currency Pair | Required |
| Operation (Ex- Buy,Sell,Buy Limit etc..) | Required |
| Entry | Optional |
| Stop-Loss | Optional |
| Take-Profit | Optional |
Following basic patterns of signals are detected by the copier
EURUSD BUY NOW
EURUSD BUY @ 1.10000
EURUSD BUY
ENTRY 1.10000
EURUSD BUY
ENTRY 1.1000
TP1 1.1200
TP2 1.1200
TP3 1.1300
SL 1.0000
⭐️GOLD BUY NOW
💯EURUSD BUY
✅ENTRY 1.1000
✅TP1 1.1200
✅TP2 1.1200
❌SL 1.0000
Just like “EURUSD BUY NOW“, the system will also recognize “BUY EURUSD NOW” pattern.
The system can also detect slight word variations for Entry, Stop Loss and Take Profit as shown below.
Example:
Entry : Enter, Entry
SL : SL, stop loss, stoploss
TP : TP, take profit, takeprofit
However, If the signals followed use any other words for Entry, TP and SL, the copier can also be configured to detect them by including the respective commands used in the copier settings.
The copier supports up to 3 take profits. By default, The Telegram2Mt4 copier will open trades based on the number of take profits of each signal. If the signal has one Take profit the copier will open trade for the TP, If the signal has two take profits the copier will open 2 trades and if the signal has three take profits, the copier will open 3 trades in the MT4 respectively
In cases where the signal has more than three take profits, the copier will only consider the first three take profits.
Shown below are some examples of signals which a different from the standard formats and an explanation on how the copier will detect them.
Example 1:
EURUSD BUY
ENTRY 1.1000
SL 1.0000
TP 1.1200 / 1.1200 / 1.1300
In above example, the take-profit values are in one line. The system will detect Entry, SL and the first TP value only. TP2 and TP3 values will not be detected.
Example 2:
EURUSD BUY @ 1.1000– 1.1010
SL 1.0000
TP 1.1200
TP 1.1300
TP 1.1400
In the above example, the signal provider has provided a range for the entry. In situations like above, the system will accept only the first value 1.1000 as the entry price.
Example 3:
EURUSD BUY @ 1.1000– 1.1010
SL 1.0000
TP 1.1200
TP 1.1300
TP 1.1400
TP 1.1500
TP 1.1600
The sample signal above has 5 TP’s. In such cases, the copier will only consider 1.1200, 1.1300, 1.1400 as the take profits and ignore the rest.
Why the copier sometimes fails to recognize a signal?
The copier software has two challenges to overcome to detect a signal,
- Determine whether a telegram message is a signal or not.
- Reading correct values from a signal.
This will not be a problem if the copier has AI(Artificial Intelligence) built-in to process natural language like humans do. Unfortunately, we do not have such technology in our software yet.
The software uses commonly used signal patterns in the signal industry to analyze and recognize signals. We will update the copier at least once in two months to include new signal patterns used by signal providers.
Our main priority is to reduce false-positives. These are messages that are not meant to be signals, but detected as signals. The effort of reducing false-positives comes at the cost of lower detection rate(some signals will not be detected if they have uncommon signal patterns).
We believe reduced detection rate is a better choice than the copier detecting signals which are not meant to be signals which can result in trading losses.
How to find out if a signal detects properly before I start trading?
You can simply type, copy or forward the message you need to test to your saved messages. If the message is detected as a signal, it will be displayed in the copier app window. Also, make sure the values are accurate before proceeding. If they are correct you are good to go!
Make sure that saved messages are not added to an MT4 installation. If not, the test message will open a trade in your MT4 account.