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Outside Bar Pro

The strategy is based on the Outside Bar pattern. An outside bar is a signal candlestick that completely covers the previous one, including its shadow. If the close price is above the high of the previous candlestick, a buy trade is opened; a sell order is opened if close is below the low. The product is designed for 4 and 5-digit quotes. Use a VPS server

Launching the EA

It is recommended to launch the EA on several adjacent currency pairs with the same magical numbers. For example:

  • or other similar linked pairs.

Allow multi-currency trading. Inp_Multicurrency – if true, the EA will work with the same magic number on all symbols it is launched on. When a specified profit, drawdown, breakeven or trailing is reached, all orders in the same/different direction are closed and the trading is started anew.

In order to provide operation of the news filter: In the terminal, open Tools ---> Options ---> Expert Advisors ---> add "http://calendar.fxstreet.com" to the "Allow WebRequest for listed URL list" field.

The EA Template Advantages

  • Compatibility of different template possibilities for modifying or expanding a trading strategy;
  • The maximum possible compatible functionality;
  • Easy to optimize.

Main Parameters

  • Inp_NewsFilter – disable trading during news releases;
  • Inp_NewsImpotance – importance of the upcoming news;
  • Inp_StopBeforeNews, Inp_StartAfterNews – minutes before and after the news release when opening of new positions is not allowed;
  • Inp_StartTime, Inp_EndTime – allowed trading time, not used if set to 00:00;
  • Inp_BalanceLots – calculation of lot based on the balance value (maximum lot/100*Inp_BalanceLots);
  • Inp_StartLots – initial lot if Inp_BalanceLots = 0;
  • Inp_MaxSlippage – maximum allowable slippage;
  • Inp_PercenValues – stop loss, take profit, breakeven and trailing are set in %, otherwise in points;
  • Inp_StopLoss – stop loss, not used if 0;
  • Inp_TakeProfit – take profit, not used if 0;
  • Inp_MagicNum – magic number. If -1, it works with all orders;
  • Inp_EaComment – comment to trades;
  • Inp_ReverseTrades – reverse positions will be opened, i.e. sell instead of by and vice versa;
  • Inp_DiffDirections – allow opening oppositely directed orders;
  • Inp_ModeWithdrawal – disable opening of new positions, the EA will only continue to close positions;
  • Inp_Multicurrency – take into account positions on all symbols when calculating stop loss, take profit, breakeven and trailing stop;
  • Inp_CloseOnSignal – close positions in case of an opposite signal;
  • Inp_CloseAllOrders – close opposite orders if hit total profit or loss;
  • Inp_BreakevenStop, Inp_BreakevenStep – the distance and profit in points for a position breakeven, not used if 0;
  • Inp_TrailingStop, Inp_TrailingStep – the distance and profit in points for a position trailing, not used if 0;
  • Inp_DiffLotsByLock – lock the volume difference of positions of a symbol, not used if 0;
  • Inp_MaxOrdersSeries – maximum number of orders in one direction;
  • Inp_MaxLotsSeries – maximum aggregate lot in the order series in one direction;
  • Inp_MaxOpenLots – the maximum allowable lot of one trade;
  • Inp_SendOrderLevel – distance from the last open position to allow placing a level to open a new order;
  • Inp_PauseMinutes – pause in minutes between order Open level modifications and order placing, 0 – not used;
  • Inp_LevelAveraging – averaging level placing step, 0 – not used;
  • Inp_PlusLot – component of the previous lot for averaging, not used if 0;
  • Inp_PlusRatio – lot multiplier for averaging, a value must be greater than 1, not used if 0;
  • Inp_LevelRebuy – step for setting the rebuy level, not used if 0;
  • Inp_MinusLot – subtract from the previous lot for additional lot, not used if 0;
  • Inp_MinusRatio – lot decrease ratio for additional lot, a value must be below 1, not used if 0;
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