Power Bot EA
- Experts
- Irina Cherkashina
- Version: 1.33
- Activations: 5
ATTENTION! CAREFULLY STUDY THE OPERATING PRINCIPLE AND AVAILABLE SETTINGS OF THE EXPERT ADVISOR BEFORE YOU START USING IT!
This EA uses the Martingale method, so it is important to follow Money Management, for which it is recommended to use dollar accounts for deposits from $10,000, and for deposits below - cent accounts with a lot of 0.01 and 1:2000 or 1:1000.
Power Bot EA: a comprehensive review.
This universal expert advisor is based on a channel trading strategy, when signals to buy or sell occur when the price crosses the lower or upper levels of the channel, which is built by of our own indicator " OrderBlocks Trigger Indicator". When the price moves against, averaging positions are opened through the distance.
To close open positions, the settings offer two options:
• Closing by indicator signal when an opposite fractal appears using the profit size filter in pips, after which this signal will be accepted.
• Closing by fixed TakeProfit in pips.
When both options are enabled, closing occurs by the one whose condition is met first.
Therefore, with various settings, taking into account the selected type of trading, this advisor is suitable for both scalping and intraday, medium-term and long-term automatic conservative trading.
For this purpose, the following functions are implemented in the expert advisor settings:
• Use time control 1 and Use time control 2 (false / true) - select the period of time of work when true is enabled. If false, the advisor will work around the clock
• Lot - the size of the first order in lots (min. 0.01)
• Mult 0 - the multiplier with which subsequent averaging orders will be opened
• Distance 0 - Distance in pips after which the indicator signal will be accepted to open the next position
• Close by reverse signal (true/false) - Close by indicator signals in the opposite direction using the profit size filter in pips, after which this signal will be accepted
• Min profit for signal close - the profit size filter in pips, after which this signal will be accepted
• Use fix TP (true / false) - Closing by fixed TakeProfit in pips
• Profit 0 - Fixed TakeProfit in pips
• Magic Number - If you work with several instruments simultaneously on one terminal, you need to specify different numbers for each instrument
• Font size - changing the font in the expert panel
The chart also displays the zero price of the grid from all open orders (breakeven level) as a yellow line.
This expert uses a universal panel for all our experts, which displays the following information necessary for the trader:
• Ticker of the traded instrument
• The number of open BUY and SELL orders
• The size of the current unfixed drawdown or profit (with a drawdown of up to 20% - standard color, with a drawdown of more than 20% - red, with profit - green)
• The size of the fixed profit for the current day, week and month
• Two buttons for closing all open BUY or SELL orders manually, if the trader so desires.
This expert advisor can be used to trade all instruments without exception on all markets and on any timeframes, but for this it is necessary to first select the appropriate settings for them.
