Markets have own rhythms, money streams at certain hours into a market and at another time out. This fully automatic EA goes in and out of the market at the right time. No martingale, no grid, always one order open with StopLoss.
EURUSD has a rhythm like ebb and flow that overlappes the background noise of market moves. The Time EA uses it and detects deviations of the usual rhythm, triggers trades in exceptional opportunities.
The probability if a support or resistance is overcome depends on the hour of the day. At certain hours its more clever to go long than short. Volatility is higher around the weekend, on wednesdays it's usually low. Observations like these are the core of the algorithm of the Time expert.
Important: Timing is a main part of the strategy - do not forget to set SetUTC (GMT) correctly according to the timezone of your broker! (Info about your timezone is in MS Windows date and time settings - to that number add the amount of hours the clock in mt4 market watch is ahead or subtract if its back)
For more information about SetUTC and the product see the Comments section!
The Time expert advisor is optimized for EURUSD M5 chart.
- SetUTC - timezone setting. The default set UTC=2 is means London time.
- Auto_Moneymanage: automatic money management can be used or disabled
- MiniLots: if set to true, automatic money management works in steps of 0.01 lot
- MaximumRisk: how much % of account free margin is set to risk for each trade
- Lots: lot size if automatic money management is disabled
- StopLossB: distance of stop loss from order open price in points for buy orders
- StopLossS: the distance of stop loss from order open price in points for sell orders
- TakeProfitB: distance from order open price in points where the order is closed for buy orders
- TakeProfitS: the distance from order open price in points where the order is closed for sell orders
- HourStart: hour when the EA starts opening orders
- HourStop: hour when the EA stops opening orders
- HrFriStop: hour when the EA stops opening orders on Fridays (disabled if set to 24 or higher)
- HrFriClose: to avoid open positions over the weekend, hour when the EA closes open orders on Fridays (disabled if set to 24 or higher)
- ECN: if set to true for ECN brokers the orders are sent without StopLoss, the SL will be set with the first tick when the order is opened
- MAGICMA: magic number
- OrderOpenAlarm: if true, a pop up window and a sound alert inform that an order is opened
- EmailAlarm: if true, an email informs that an order is opened
- PushAlarm: if true, an push notice informs that an order is opened
- Text_Buy: short text in the alarm message
- Text_Sell: short text in the alarm message
- Comment_Buy: A short text to identify where the order comes from is shown by mouse over where the order was opened in the chart
- Comment_Sell: A short text to identify where the order comes from is shown by mouse over where the order was opened in the chart
- Hedge: if true, an order to the opposite direction may be opened even if there is already an order opened
- MinBuyProfit: minimum profit in points a buy order must have before a sell can be opened
- MinSellProfit: minimum profit in points a sell order must have before a buy can be opened
- Limitorders: if true, limit orders are set instead of opening orders at market price
- MultiLimit: if true, another limit order can be set even if there is already one or more in the market
- Distance: number of points the limit order is set below (buy) or above (sell) market price
- Expiration: number of seconds after setting when the limit orders expire
- PointsDelLimBuy: Points over BuyLimit price where order is deleted
- PointsDelLimSell: Points under SellLimit price where order is deleted
PointsDelLimBuy = Points over BuyLimit price where order is deleted
PointsDelLimSell = Points under SellLimit price where order is deleted
In the chart a text shows the number of the module that triggered a trade.
That feature can be de/activated by the new setting: ShowModuleNr
Besides the module number is shown the difference of the 2 moving averages that can be seen in the chart after a backtest.
That number indicates how strong the equity is falling or rising.
Every single module of the expert can be de/activated by the new settings:
Buy1act, Buy2act, etc,
Sell1act, Sell2act, etc
If Limitorders = true, limit orders are set instead of opening orders at market price
If MultiLimit = true, another limit order can be set even if there is already one or more in the market
Distance is the number of points the limit order is set below (buy) or above (sell) market price
Expiration sets the number of seconds after setting when the limit orders expire
Print function added. When an order is sent, Bid and Ask prices are shown in 'Experts' of the terminal.