NIP Trading is a fully automated Expert Advisor. It works by using several different strategies at the same. Most of the strategies are trend following except for some trend reversal entry points which use Stop Orders when identified. Different strategies use different take profit and stop loss levels as well as trailing stop values, making the expert advisor very flexible to different market conditions.
- No martingale.
- No arbitrage.
- All trades have stop loss.
- Some trades have fixed take profit, others will use a trailing stop.
- This is a long term EA, which does a lot of trades, but it will not trade every day.
- It's less susceptible to spread and slippage since it catches strong market movements.
- The EA trades mostly on H1 timeframe but it can also be used on other timeframes.
The recommended input parameters for each currency will be available on the comments.
- Look Back Period - the number of bars used for the indicator to look for important support/resistance points
- Past Bars: Lag Period used to analyze market behavior
- Hour to Start: Time to begin trading
- Hour to Stop: Time to stop trading
- Order Parameter 1: Parameter used to delete pending orders. Range: 1 - 50
- Order Parameter 2: Parameter used to control the quantity of pending orders. Default: 20
- Stop Loss Market (1, 2, 3): Stop Loss for market orders
- Stop Loss Pending (1, 2, 3): Stop Loss for pending orders
- Take Profit Market (1, 2, 3): Take Profit for market orders
- Take Profit Pending (1, 2, 3): Take Profit for pending orders
- Trailing (1, 2, 3): Trailing stop
- Pending Distance (1, 2, 3): Distance to place pending orders
- Points to Activate: Points to activate trailing stop
- Distance Between Orders: Distance between orders
- Keltner Filter: Keltner deviation used to filter
- Keltner Period: Keltner period
- Account Percent: Account percent used in each trade
- Fixed lotsize: Set to 0 if you want to used account percent
- Magic Number: Magic Number. If you want to use multiple currencies in one account set different values for each currency
- Spread Filter: Spread Filter for market orders
- Points to Pass: if non zero the EA will use Limit Orders to Open Positions;
- GMT Broker: GMT of your broker;
- Use Stop Orders: Use Stop Order strategy;
- GBPUSD, NZDUSD, USDJPY, USDCAD and USDCHF
You can find the recommended set on my blog: https://www.mql5.com/en/blogs/post/687485
Option to use Limit Orders instead of Market Orders;
Option to use Stop Orders;