Directional Movement

Expert Advisor Overview and Advantages

  • The strategy is based on the support and resistance breakout principle;
  • The EA uses only Buy orders.
  • The EA always uses Take Profit and Stop Loss.
  • Multicurrency trading is supported.
  • Easy of use.
  • Wide choice of suitable currency pairs;
  • Minimum initial deposit.


Operation Principle

  • Based on the data of two indicators (the first is RSI with a period of 14, the second one is custom built-in indicator), the EA opens a buy order and sets the Take Profit and Stop Loss levels. They are never modified and remain in one place.
  • Orders are closed by the Take Profit and Stop Loss levels.
  • No more than one Buy order can be opened for each pair the EA is running on.


Recommendations

  • To start trading, drag the Expert Advisor onto the chart with recommended settings;
  • I recommend using the multicurrency trading option by launching the EA on required currency pairs, setting a new value to the Magic parameter for each pair.


Input parameters

  • Lot - the volume of market orders.
  • TakeProfit - the Take Profit value in chart points.
  • StopLoss - the Stop Loss value in chart points.
  • Magic - market order magic number.


Recommended values of parameters

  • Lot = 0.01;
  • TakeProfit = 0.002;
  • StopLoss = 0.002;
  • Magic = 1.
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