The principle of the LastDayLevels Expert Advisor is based on the breakout of levels of the channel formed by the High and Low prices of the previous day.
The EA has flexible settings, which allow modifying the parameters and the logic of this strategy in a wide range.
It is possible to trade both the channel breakout, and the channel rebound.
It possible to switch between working based on the Current or Closed bar.
It is possible to enable/disable the lot increase when a trade is unprofitable (Martingale)
Setting Take profit and Stop loss both as a fixed pips value and as a percentage of the channel width.
For more information on the configuration features, see the description of the EA parameters:
- SIGNAL (Out from Range/Return in Range) - switch between the modes of trading the channel Breakout/Rebound.
- Signal_Bar (Current/Closed) - switch between working based on the Current or Closed Bar.
- Lots - volume of the opened order.
- Martin - lot increase ratio after a losing trade. To disable this feature, set it to 1 (one).
- Close_on_contrsignal - enable closing all orders when an opposite signal is received.
- Only_one_order_on_day - enable opening only one trade on one instrument per day.
- Magic - identifier of the EA's orders.
- TP_SL_MODE (Pips/Percent_from_Range) - switch the TP and SL placement modes (Fixed in pips / As a percentage of the channel).
- TP_pips - take profit in pips.
- SL_pips - stop loss in pips.
- TP_perc_from_Range- percentage for calculation of take profit based on the channel width.
- SL_perc_from_Range - percentage for calculation of stop loss based on the channel width.
- Trall_SL_start - the number of pips in profit to enable the trailing feature. To disable the trailing function, set it to 0 (zero).
- Trall_SL_pips - distance from the price in pips to trail the stop loss.