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EA Straddle Trader

Operation Principle

The EA places two stop orders (BuyStop and SellStop) with preset stop loss and take profit at a specified distance from the price and within specified time. Stop orders are repositioned every time after a new candle opens (frequency of stop orders repositioning directly depends on the time frame of the chart where the EA is installed; a minute time frame is usually used to avoid false triggering of an order; it also depends on the applied strategy). Pending orders will be repositioning relatively to the price until one of two orders triggers or until both orders are deleted at a specified moment.

After one of pending orders opens, the other one is automatically deleted. Then the EA keeps working with the open order: it changes the StopLoss level according to trailing settings to make the order move to breakeven and close in profit by the StopLoss level or the specified TakeProfit.

External Parameters

  • Lots – lot size of stop orders opened by the EA
  • StopLoss* – initial stop loss
  • TakeProfit* – distance to place the take profit
  • slippage* – allowed price slippage
  • Distance* – distance above and below the price when stop orders are placed
  • autolot - automatic calculation of the lot
  • MaxRisk - deposit loss percentage if the initial stop loss is triggered, required for the calculation of the lot
  • TimeSetOrders – local time when stop orders should be placed
  • TimeDelOrders – local time when stop orders should be deleted if none of them triggers
  • seconds before modification - the number of seconds until the modification of the stop orders, if set to 0, the modification happens at a new bar
  • UseTrailing – if true, uses trailing
  • ProfitTrailing - if true, only profit is trailed
  • TrailingStop* – fixed trailing stop
  • TrailingStep* – trailing step
  • MaTrailing - enable trailing by moving average
  • PeriodMaTrailing - moving average period for trailing
  • INFO — if true, the informer is enabled
  • comment — a comment displayed in the informer and a title of a letter, if required
  • Color — informer color
  • VisualGap — if true, all gaps found in the process of the EA operation will be visualized;
  • MinFixedGap* - minimum size of gaps in points to be visualized
  • Infoprofit — if true, the informer will display a profit in an account currency; if false, it will display the profit in pips
  • MailSend — if true, the EA sends an email with the main information concerning the trade after the trading order is closed
  • UseSound – if true, the sound signal is played when the EA opens, modifies, closes or deletes orders
  • NameFileSound – can be changed, "expert.wav" is used by default
* parameters which must be different for symbols with 4 and 5 decimal places

The EA Additional Features (as necessary)

  • Informer — amongst other things it fixes spread widening
  • Gap Visualizer — records maximum value and marks bars having gaps equal at least to the specified level
  • Sending trading results by e-mail — detailed information concerning the trading result, currency pair, balance, equity sent to your e-mail

The Main Trading Technique Using the Straddle Trade EA

The Straddle Trade EA is designed for trading using the similarly-named strategy based on important news and market events. The strategy involves surrounding the price by stop orders with a view to gain a profit after a big price movement. Straddle Trade can be used both for fundamental news trading and trading using particular strategies, for instance important resistance levels breakthrough.

This EA is a handy tool for trading, but it is to be understood that 90% of success depends on a trader's skills. If the trader finds a right moment to enable the EA and understands which parameters should be used, he/she will have 100% probability to have a successful trade. This EA can help you to significantly increase your deposit if you process only one significant piece of news or economic event, i.e. in the span of just few minutes of trading. It should be noted that not all brokers are appropriate for large trading with this EA. Many of them require trades lasting over 5 minutes, increase the spread before news, or do not open orders at all.

alexm001 2016.09.02 11:11 

The biggest problem with this EA is timing. It never opens or closes the orders at the time specified.

I have traded three news with this EA, none of them worked.

1) GBP Construction PMI (9.30am).

Order set to open at 9.29.52 (work around latency) the order was actually opened at 9.29.22, 30 seconds earlier.

2) GBP Manufacturing PMI (9.30am)

Order set up to open at 9.29.55, opened at 9.30.15 and stopped out.

The 3rd order didn't even work as it was cancelled 2 seconds after their were opened (set close localtime set to 1 minute).

Version 2.30 2017.05.03
1. all operations related to working with time in real time have been moved to the OnTimer function, now the EA os more accurate and less dependent on the incoming quotes.
2. three seconds before the placement of stop orders, the EA enables the precise time mode, which allows opening orders with a precision of up to a few milliseconds
3. redesigned the visual panel, it has become more convenient and informative
4. improved the margin control
5. fixed an error that sometimes caused the orders not to be opened
6. a number of small improvements
Version 2.21 2015.09.10
1. added the ability to change the visual panel color
2. added the ability to change the panel location
Version 2.12 2015.07.10
- added the Second feature: the number of seconds until a new modification of pending orders
- improved interface
Version 2.11 2015.06.10
Fixed object redrawing
Version 2.10 2015.06.03
Correct redraw and deletion of objects.
Version 2.0 2015.06.02
-Improved visualization of information
-Added trailing by moving average
-Automatic calculation of the lot relative to the stop loss
-General code optimization will improve the EA performance