Automated multi-currency Pender Expert Advisor.
Trading is performed using pending orders based on breakout of price levels, where the price had slowed down during the recent time periods.
2 types of strategies are available:
1. Without hedging - virtual Stop Loss is always set.
2. With hedging - StopLoss and Takeprofit are not set, positions are to be closed by virtual Takeprofit.
Only one strategy can be used on the same currency pair at the same time.
Trading can be performed either with fixed lot or with automatic money-management system.
Broker and deposit
Any 5-digit broker with low spreads and fast execution is suitable for trading.
The minimum deposit for non-hedging strategy - $100.
The minimum deposit for hedging strategy - $1000 per 0.01 lot.
Currency pairs and timeframe
Trading on EURUSD, USDJPY is recommended, because of low spreads on these pairs.
Timeframe - H1.
Terminal - MetaTrader 4.
- EAMagic - EA's magic number.
- AutoLot - can be set to true or false. If true, the EA selects the lot size for trading depending on the balance value.
- Lots - lot size is set by a user, if the value of AutoLot is false.
- Risk - parameter for automatic lot calculation, if AutoLot value is true.
- DD - the maximum allowable drawdown, reaching which closes all positions.
- CommentOfOrder - comment to orders. Can take any value.
- StopLoss - virtual stop loss in points (only for non-hedging strategy).
- TrailingNoHedge - trailing stop in points (only for non-hedging strategy).
- VirtualTrailing - can be set to true or false. If true, the EA hides the modified StopLoss levels from the broker.
- ReverseTrade - can be set to true or false. If true, the EA opens a position in opposite direction when pending order is activated (only for non-hedging strategy).
- StartHourNoHedge - time to start trading.
- EndHourNoHedge - time to end trading. All current pending orders will be deleted (only for non-hedging strategy).
- HedgeProtect - can be set to true or false. If true, hedging strategy is used.
- TakeProfitInPoints - take profit in points (only for hedging strategy).
- LotMult - lot multiplier for the next opened position (only for hedging strategy).
- PipsOfIncrement - expansion of the price corridor when exiting an unprofitable position (only for hedging strategy).
- TrailingHedge - trailing stop in points (only for hedging strategy).
- SummerAdjustment - adjustment for daylight saving time.
Recommended settings are set by default.
By default, the StartHourNoHedge and EndHourNoHedge parameters are set for terminal's time zone GMT+2. Set these parameters according to the time zone of your terminal if needed.
I will be happy to answer any questions you may have.
Have a successful trading.
2. Improved TrailingStop.
New strategy and new parameters were added.
Virtual TrailingStop was added.