The PiggyBack Standard Expert Advisor is a fully automated trading system with an information and trading panel, which allows closing groups of orders in one click, receiving information on orders and the instrument, as well as partially modify input parameters right on the chart.
The EA is equipped with a news filter that reads information from one of the two optional sources. The filter suspends trading with the selected pauses before and after the economic news releases.
The EA performs mathematical grid trading without the use of indicators. Trading begins with the opening of two orders in different directions. When closed, two orders in different directions are opened again, with one of them increased by the Multiplier coefficient. Thus the EA is aimed at capturing price movements regardless of their direction. The EA trades quite aggressively.
- TypeOfWork - select the EA operation mode.
- Lots - volume of the first trade in the group of orders, in lots.
- Magic - magic number.
- Slippage - allowable slippage in points.
- Step - step for the order grid in points.
- Multiplier - multiplier.
- MaximumLotsValue - maximum allowed volume of one order in lots.
- MaximumOrdersInWork - maximum allowed number of EA orders.
- TrailingStepEquity - step of the virtual trailing in the deposit currency.
- TrailingStartEquity - start of the virtual trailing in the deposit currency.
- StopOutValue - loss in the deposit currency, at which all deals opened by the EA are closed.
- ProfitTextWrite - enable the output of the order group profit on the chart.
- SendMessage - enable sending notifications on closure of the group of orders and the account status to the mobile MetaTrader 4 terminal.
- DealButtons - show the panel for opening new orders.
- UseStopOut - enable closure by loss.
- UseTimeOuts - prohibit opening deals at certain hours.
- Start1 - the beginning of the first time interval for opening new deals.
- Stop1 - the end of the first time interval for opening new deals.
- Start2 - the beginning of the second time interval for opening new deals.
- Stop2 - the end of the second time interval for opening new deals.
- UseNewsFilter - enable the news filter.
- SourceNews - select the news source.
- LowNews - use pauses during low-impact news.
- LowIndentBefore - pause before the news release in minutes.
- LowIndentAfter - pause after the news release in minutes.
- MiddleNews - use pauses during medium-impact news.
- MiddleIndentBefore - pause before the news release in minutes.
- MiddleIndentAfter - pause after the news release in minutes.
- HighNews - use pauses during high-impact news.
- HighIndentBefore - pause before the news release in minutes.
- HighIndentAfter - pause after the news release in minutes.
- NFPNews - enable the Non-farm Payrolls release.
- NFPIndentBefore - pause before the Non-farm Payrolls release in minutes.
- NFPIndentAfter - pause after the Non-farm Payrolls release in minutes.
- Your Time Zone, GMT (for news) - time zone (GMT).
How to configure TrailingStop
TrailingStepEquity and TrailingStartEquity work in the deposit currency. TrailingStartEquity = 1.55 means that the trailing algorithm is launched when the profit of the order group is 1.55 units of the deposit currency.
Since closing a group of orders causes a new pair of orders to be opened in different directions, a small value of TrailingStartEquity means a greater number of deals. It is useful for scalper strategies. On the other hand, a larger value reduces the number of the opened orders.
I recommend setting TrailingStepEquity to 1.5xLots or 2xLots.