The punched range
The Expert Advisor works on any timeframe and symbol.
The main idea: flat is always followed by a strong movement.
The EA determines when the price is located within a particular Delta_Range price range for a certain amount of time set in Time_Minus_Minut. Both parameters are customizable.
The robot sets two BUYSTOP and SELLSTOP pending orders for a specified delta_stop_run time period on a Set_Delta_Price_Stop distance from the previous price range with the specified Set_TakeProfit, Set_StopLoss and lot volume values.
If the price moves beyond the range and a pending order turns into a market one, the second pending order is closed.
The EA contains the TrailingStop block making STOPLOSS follow the price.
- Set_Lots – pending order lot volume.
- Set_TakeProfit – profit gained by opened pending orders. The applied format: (200). Recommended values are 50 and higher. The minimum value is limited by your broker.
- Set_StopLoss – stop loss for pending orders. The applied format: (500). The minimum value is limited by your broker. Recommended value is 200.
- Set_TrailingStop – trailing stop. The applied format: (150). The stop loss follows the price at a specified distance when it moves to a profitable area. Recommended value is 50.
- Delta_Range – price range, within which the price is located before pending orders are opened. The applied format: (120). Recommended value is 140.
- delta_stop_run – two pending orders lifetime in minutes. If the time is up and no order is activated, both orders are removed. The applied format: (120).
- Set_Delta_Price_Stop – distance between the price range and pending orders open price. Recommended value is 40. The minimum value is limited by your broker.
- Time_Minus_Minut — time period, during which the price is located within a user-defined range.
If your broker uses suffixes or prefixes in symbol names and the EA does not work on them, contact me and I will implement changes for you.