The Mother Candle Expert Advisor trades on М1 on all currency pairs, it is based on the Mother Candle scalping strategy and is designed only for five digit quotes!
The purpose of the Expert Advisor is to find a candle and set the support and resistance levels. Once a level breakout happens, the Expert Advisor opens an order with the specified lot, places Stop Loss and Take Profit. Once the 'Profit level' is reached, the EA activates the trailing stop, and until this order is closed, no new ones are opened.
- SL_Max = 3000 - if the calculated stop loss is greater than the maximum, the maximum is applied
- SL_Min = 2000 - if the calculated stop loss is less than the minimum, the minimum is applied
- TP = 150 - take profit
- Delta = 20 - the minimum size of the "second" candle in points
- Lot = 0.01 - lot of the order
- Profit_Level = 100 - if position is profitable for Profit_Level points
- SL_Plus = 10 - breakeven is set for +SL_Plus
- Profit_Level2=100 - if position is profitable for Profit_Level2 points
- TrailingStop2=100 - then the stop loss will follow the price at the distance of TrailingStop2 points
- Slip = 30 - slippage
- Magic = 3229 - individual number for orders opened by EA.