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Master Levels mt5

The Master Levels (version for MT4) analyzes the data over the last few days and determines the relevant levels. It tracks the breakouts of these levels. Trades are opened in the breakout direction.

The Expert Advisor is fully automated. It has a minimum number of settings. The Master Levels is equipped with a flexible position management system. You can set any number of take profit parts. It also features a trailing stop system, which allows to protect the gained profit. Depending on the settings, the EA can work both as a scalper, and as an EA with medium profit targets.

Master Levels allows controlling slippages and spread at the moment of entry, which is crucial for a scalper.

The EA implements algorithms for limiting its operation by time. There is a trade suspension module. You can set any interval, for example, time of news release, during which new trades will not be performed. You can also choose the actions for the open positions during the specified pause interval.


Features & Benefits

  • Minimum number of settings. Easy to use
  • Ability to take profit in any number of parts
  • Trailing stop allows reducing losses
  • Spread and slippage control
  • Advanced trading pause module


Recommendations on Usage

  • Use ECN account with minimum spread and commission
  • Choose a broker with good execution of orders
  • Use the maximum leverage of 1:100 or higher
  • Trade volatile currency pairs with minimal spread

Default settings are intended for operation on ECN accounts with the average spread less than 1 point. Optimized for EURUSD H1.

New features will be added with time. You can make suggestions, and they will not be left unnoticed! For my part, I am always open to dialogue and timely support of the product.


Parameters

Trade logic

  • Days analyze (include current) - The number of days to analyze the levels. The latest days are considered, including the current.
  • Level amplitude - The minimum required amplitude for the levels. The price should pass the specified distance on both sides of the level.
  • Entry distance - Entry distance. Offset in points from the level, where entry is made. Negative value - entry on reaching the level. Positive values - after crossing the level.

Time parameters

  • Start trade hour (End trade hour) - Operation interval of the EA. Full day - start 0 - end 23.
  • Days filter - Disable trading on certain days of the week. To disable, set to false.
  • New trades pause - Enable/disable pausing trading in the time intervals (false - disable, true - enable)
  • Open trade actions - Actions with the open trade when the interval starts
    • To do nothing
    • Close trade
    • Breakeven or close trade - If the trade is profitable, the stop loss is moved to breakeven. The trade is closed in case it is unprofitable or if it impossible to move the stop loss to breakeven.
  • Pause intervals - String for setting the pause intervals. You can define several intervals. The format is hh:mm-hh:mm, or hh:mm-hh:mm;hh:mm-hh:mm;......;...... The intervals are active during the current and subsequent days until disabled.

Spread and slippage control

  • Slippage - Maximum allowed slippage at the moment of entry
  • Spread filter - Maximum allowed spread at the moment of entry

Risk parameters

  • Fixed Volume
  • Risk per trade, % - If set to 0, the value of fixed volume is used.
  • Percentage of balance used, %
  • StopLoss
  • TakeProfit

Position management

  • Closing parts - true/false
  • Parts - The number of parts for taking profit
  • Close first part, % - Percentage for closing the first part (of the total deal volume)
  • First part TP - Profit of the first part
  • Enable trailing stop - true/false
  • Trailing activate - Profit in points to activate trailing
  • Main trailing

Interface

  • Paint levels - Draw the current levels on the chart.
  • Postfix name currency - Postfix to the name of the currency pair. For example, the symbol is named EURUSD.e, so the postfix is ".е"
  • Levels color
  • Line style
  • Magic
  • Comission for 1 lot (for tests) - Evaluate the total commission size for the entire test. The result is displayed in the test journal, OnTester function (see the screenshots)
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Version 1.1 - 2016.10.28
- Fixed some bugs.
- Working time period can be set with overlapping days. For example, 'hour start 22 to hour end 17'.
- Added the commission parameter. This allows evaluating commission after testing. The total commission is defined using the OnTester function in the testing journal.