Impulse Seeker MT5
This is the МТ5 version of the Impulse Seeker EA (https://www.mql5.com/en/market/product/18831). Impulse Seeker MT5 finds impulses in the price movement. Usually there is a certain market dynamic, and this dynamic changes during news releases or when large market players or banks open positions. The Expert Advisor analyzes the levels over a period of time specified in Minutes for count, and if the impulse exceeds the value of Size of the Impulse, a position in the impulse direction is opened. It works with both types of accounts, Net and Hedge.
Three operation modes are available depending on the Take Profit and Trailing Stop parameters:
- A non-zero Take Profit and a non-zero Trailing Stop - the EA will set Take Profit, and upon reaching profit of Trailing Stop pips the EA will enable the trailing mode. A trade is closed either by Take Profit or by Trailing Stop.
- Take Profit=0 and a non-zero Trailing Stop - the EA will not set Take Profit, and upon reaching profit of Trailing Stop pips the EA will enable the trailing mode. A trade is closed by Trailing Stop.
- A non-zero Take Profit and Trailing Stop=0 - the EA will set Take Profit. Trailing Stop mode will not be activated. A trade is closed by Take Profit.
Take Profit = 0 and Trailing Stop = 0 does not make sense, the EA will not work.
Brokers usually widen spread during important news releases. Use the Maximum Spread parameter. The EA will not trade if spread is above this value.
If Lot=0 - lot is calculated as percent of free margin - Percent Risk.
If a non-zero value is specified for Lot, the EA will trade a fixed lot equal to the specified value.
Maximum loss in percentages - limits the loss. When the EA starts, it stores the value of balance. If the losses exceed the percentage of the 'Maximum loss in percentages' parameter, the EA closes its position and stops its operation.
Impulse Seeker MT5 shows best results on GBPUSD, but it can also be used on EURUSD and USDJPY.