A simple solution for trending markets.
How it Works?
- The Initial trade is executed immediately if met the conditions in EA Activation inputs favoring a trend based on stochastic oscillator indicator, but avoids buy position if it detects a bearish trend and sell position on bullish trend. After the initial trade is executed a stop order in reverse of the open position is immediately ordered automatically with the distance relative to the opening price.
- Closing of Trade is executed in three ways if the
- total trades count is 1, it will be closed if total open profit is greater than $1 after 1 hour and a secondary trailing stop.
- total trades count is more than 1 but not greater than 5, it will be closed if total open profit is greater or equal to lot size multiplied by profit multiplier. For example: 0.05 x 100 = $5.
- total trades count is more than 5, it will try to close immediately on range market or if not enough margin if the total open profit is $1.
Set the EA Time and day filters based on Economic calendar that you can see in the MQL5 website https://www.mql5.com/en/economic-calendar
Identify your server time and set it one hour before or exact time the news will happen. Just be sure to change magic number if your using multiple chart window even with the same currency pair. For further information see screenshot description in the overview of this product.
VPS is optional but fast execution is an advantage. I recommend using the VPS of MQL5.
Choose a broker that doesn't widen spread on news. Fix spread brokers with instant execution is a major advantage in using this EA.
- ***Risk Management*** - risk management inputs.
- ProfitMultiplier - value that is multiplied to Total Open Trade Size to set as take profit target.
- LotSizing Activation - if true, the initial lot size is computed as account balance divided by you input in Lotsizing.
- Lotsizing - Input value for LotSizing Activation.
- Starting Lot Size - fixed starting lot size of order.
- Open Trade Size Multiplier - input value that multiplies lot size for the next open order.
- ***EA Activation*** - activation inputs.
- MagicNumber - return an identifying (magic) number of the currently selected order.
- MaxSpreadPips - distance between bid and ask you allow this EA to open a trade.
- HourStarts - hour starts to open a trade.
- MinutesStarts - Minutes of the hour starts to open a trade.
- HourEnds - hour ends to stop opening a trade.
- MinutesEnds - Minutes of the hour ends to stop opening a trade.
- TradeMonday - allow the EA to trade on Monday.
- TradeTuesday - allow the EA to trade on Tuesday.
- TradeWednesday - allow the EA to trade on Wednesday.
- TradeThursday - allow the EA to trade on Thursday.
- TradeFriday - allow the EA to trade on Friday.
- TradeSaturday - allow the EA to trade on Saturday.
- TradeSunday - allow the EA to trade on Sunday.
- InfoPosition - place the object info on the chart window.
- ChooseColor - choose a color of object info.
For more questions, you can just send me a private message or leave a comment in this product "Comments" sections.
Attach it to H1 Time frame only!
Strategy Parameters are now removed - The EA now will formulate the best parameters for the current pair where you have attached the EA.
Initial Trade - Initial trade is instantly executed on the favoring direction at the time of activation, but avoids buy positions on a bearish trend and sell positions on a bullish trend.
Time and day filters is only active on initial trade execution. Stop orders is always active as long as there is an open trade.
Stop Orders - Stop orders will only appear if there is an initial trade.
Cut loss Removed - I will removed this parameters because I don't see any purpose.
Lot Sizing - you can now input your own lot sizing value, "lots is equal Account balance divided by Lot Sizing".
Master equalizer option is now removed but it is now a preset part of the strategy.
MinStarts - MinEnds Inputs are added to have a precise activation of EA when your doing the news trading strategy:
Note: Time filters is base on platform/server time.