LoLFx is a scalper Expert Advisor which uses the strategy of support and resistance lines breakthrough. Fully automated. Designed for trading EURUSD, a low spread broker is preferred.
The EA independently detects support and resistance lines and places pending orders. When the market changes it removes old pending orders and places new ones.
Just in case, orders are placed with preset stops to avoid significant losses in emergency situations, for example in case of Internet disconnection.
Virtual hosting is preferred. Thirty minutes timeframe is recommended.
Settings and Input Parameters:
- Lot/Risk - automated lot calculation.
- Risk - free margin percentage to calculate lot. Enabled if Lot/Risk is set to true.
- Lot - fixed lot size if Lot/Risk is set to false.
- First Virtual Take Profit - first take profit which closes a part of the order volume in case of profit.
- Second Virtual Take Profit - second take profit which closes the whole order in case of profit.
- Virtual Stop Loss - stop loss in points, the order closes if the price passes this number of points below the open price.
- Comment - order comment.
- The magic number - magic number.
Added a function for closing orders by timeout.
Added parameters for setting maximum spread and slippage.
Period — timeframe (in minutes), for example, 30 - M30, 60 - H1.
Kolbar — amount of bars used to find support and resistance lines.
Kolbarshift — shift (in bars) from a zero bar.