1. As is known, the ZigZag indicator has the last flexible point. If it is lower than the previous one then it is a sell signal. If it is above then it is a buy signal.
2. If a buy position is already opened and there is a buy signal then we don't do anything.
3. If a sell position is opened and the current signal is for buying then we close the position and open another one in the necessary direction.
It will be a good composition if Money Management and Martingale are added to this EA. Before you start using this system you should take care of the StopLoss and TakeProfit limits. There are none of them. So, if a problem with the internet or electricity occur your position may go in a wrong direction very far.
Attention! Do not use this EA on a real account. It is not finished yet.
|Symbol||GOLD (Gold (Spot))|
|Period||4 Hours (H4) 2004.07.07 12:00 - 2008.09.22 20:00 (2003.09.23 - 2008.09.23)|
|Model||Every tick (the most precise method based on all available least timeframes)|
|Parameters||ExtDepth=17; ExtDeviation=7; ExtBackstep=5; Lot=0.1;|
|Bars in test||6443||Ticks modelled||4267178||Modelling quality||88.60%|
|Missmatched charts errors||1|
|Total net profit||6275.97||Gross profit||16505.35||Gross loss||-10229.38|
|Profit factor||1.61||Expected payoff||28.14|
|Absolute drawdown||376.19||Maximum drawdown||1101.44 (15.32%)||Relative drawdown||46.40% (540.02)|
|Total trades||223||Short positions (% won)||111 (37.84%)||Long positions (% won)||112 (48.21%)|
|Profit trades (% of total)||96 (43.05%)||Loss trades (% of total)||127 (56.95%)|
|Largest||profit trade||1182.76||loss trade||-306.66|
|Average||profit trade||171.93||loss trade||-80.55|
|Maximum||consecutive wins (profit in money)||5 (716.33)||consecutive losses (loss in money)||5 (-297.53)|
|Maximum||consecutive profit (count of wins)||1505.49 (2)||consecutive loss (count of losses)||-631.09 (4)|
|Average||consecutive wins||2||consecutive losses||2|
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/8440
I created this indicator on the basis of the MQL4 training material. This modified EA is almost from there. All functions are standard, I'm not able to develop something better yet. Only the "heart" of it was modified.SupportResistTrade
Trading by a break through of the support/resistance levels.
The indicator draws the channel of regression by High and Low prices.Info
Spread, swap, minimum stop limit, price of a point, calculated maximum lot!!!