The GBPUSD Digger EA uses Support and Resistance based trading strategy. The positions are opened when the risk of a loss is minimized.
GBPUSD_Digger trades the GBPUSD M15 currency pair. It is important for the EA to open positions at days when the price movement in the same direction is minimal and the price moves in a channel. Optimal trading days - Monday and Tuesday. The expert uses a lot of filters to find the best signals for opening positions and minimizing losses.
May and September show the worst results according to the statistics, because the price often reaches the StopLoss. In my opinion, this is due to the time of the summer holidays. When the large financial institutions make decisions that influence the currency market before and after the summer holidays. Therefore, the expert has the options to block trading in May and September.
The expert also incorporates the protection against sudden movements during the news. If the spread increases, the positions will not be opened for some time. This allows the positions to be opened later at a better price. This filter does not work in the strategy tester (spread does not change), so the positions will be opened at much better prices during live trading.
GBPUSD_Digger is not a scalper, so the profit is minimally dependent on the such parameters as the network delays to the broker server, spreads and commission.
Do not be greedy, use small trading volumes. Only the "gambler" dream to earn 100% per month, if you want to trade like a professional, think about profits over a long-term period!
Expert Advisor Settings (GBPUSD M15)
- GMT_Diference - GMT offset of your broker*.
- StopLoss - Limitation of losses.
- Magic - trades ID.
- MaxLots - Maximum lots size.
- Risk — % of risk size.
- May – Lock / unlock.
- September – Lock / unlock.
*Compare the time of the trading platform to GMT (http://time.is/GMT), if the time of the platform is 1 hour ahead, then write (1), if the time of the platform is 2 hours behind GMT, then write (-2).
I recommend that you look at my signal Martingail Digger. The system is partially based on GBPUSD Digger EA. It also features the Martingale system, as well as fixed SL and TP.
Version 1.01 - 2016.02.23
Added gap filter.
Improved Money Management.