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Master Take Profit Stop Loss

GenieBullTrader's Master TPSL: Take Profit - Stop loss


How it Works?

This EA trades with two kinds of strategy that can adapt if your sentiments is range or trending.

Losers Positions is a strategy against the trend that opens a position in reverse from previous profitable trade, and it opens a position the same from the previous losing trade. For example:

  • Current open trade is Buy, if it hits the take profit point the next position is Sell, if it hits stop loss the next position is Buy.
  • Current open trade is Sell, if it hits the take profit point the next position is Buy, if it hits stop loss the next position is Sell.

Master Breakout is a strategy that sets a buy stop order above the resistance line and sell stop below the support line with the distance set in parameter Breakout Tolerance.

Closing of Trade is Take Profit and Stop Loss Point. The Minimum Take Profit and Stop loss is 10 pip, if set lower than this value it will automatically adjust to the minimum preset value. A trailing stop based on moving average will activate if the distance of the moving average from the current price is inversely proportional to the stop loss. For example:

  • Current open trade is buy and stop loss is 10 pips. If the moving average is above the buy price with the distance equal or greater than 10 pips a trailing stop will activate.
  • Current open trade is Sell and stop loss is 10 pips. If the moving average is below the sell price with the distance equal or greater than 10 pips a trailing stop will activate.
All indicators used in this EA will base their data on the current time frame you have attached it to. Results may vary depending on the time frame you are backtesting the EA using the default settings.


Parameters

  • MagicNumber - return an identifying (magic) number of the currently selected order.
  • TakeProfit - set a Take Profit limit relative to the opening price.
  • StopLoss - set a Stop Loss limit relative to the opening price.
  • PositioningStrategy - option to choose:
    1. Losers Position
    2. Master BreakOut
  • BreakOut Tolerance - the distance between the stop orders to the support line and resistance line. Minimum of 10 pip.
  • Support and Resistance Period - the number of bars in the current time period that the line of resistance and support will base its value.
  • Starting Lot - initial start lot of Martingale.
  • Loss Factor - multiplier value of lots if the last trade is a loss.
  • Custom Maximum Trade lot - custom maximum lot size.
  • MaxSpread Pips - distance between Ask and Bid, at which you allow the EA to open a trade.
  • Hour Starts - hour starts to open a trade.
  • Minutes Starts - minutes of the hour starts to open a trade.
  • Hour Ends - hour ends to stop opening a trade.
  • Minutes Ends - 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.
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Version 11.1 - 2017.10.31
- Master Breakout is now a strategy that sets a buy stop order above the resistance line and sell stop below the support line with the distance set in parameter Breakout Tolerance.

- Losers position now has a more precise entry compared to former version with random entry

- A trailing stop based on moving average will activate if the distance of the moving average from the current price is inversely proportional to the stop loss