Spike Finder MT5
The EA waits for a spike according to a specific logic and opens a position in spike direction setting stop loss and take profit.
When positions are in profit they are managed with smart trailing mechanism based also on elapsed time from opened position.
It works with 5-digit and 4-digit broker.
Must be used M1 chart.
It does not use:
- spikeFilter - value to decide opening positions
- takeProfit - take profit in points
- stopLoss - stop loss in points
- firstTrailStop - first trail stop points
- trailStop - trail stop points after first
- allowedSpread - max spread allowed to open positions
- slippage - slippage set during position opening
- SundayTradingInterval - trading interval in Sunday
- MondayTradingInterval - trading interval in Monday
- TuesdayTradingInterval - trading interval in Tuesday
- WednesdayTradingInterval - trading interval in Wednesday
- ThursdayTradingInterval - trading interval in Thursday
- FridayTradingInterval - trading interval in Friday
- tradingOnJan - if true trading active on January
- tradingOnFeb - if true trading active on February
- tradingOnMar - if true trading active on March
- tradingOnApr - if true trading active on April
- tradingOnMay - if true trading active on May
- tradingOnJun - if true trading active on June
- tradingOnJul - if true trading active on July
- tradingOnAug - if true trading active on August
- tradingOnSep - if true trading active on September
- tradingOnOct - if true trading active on October
- tradingOnNov - if true trading active on November
- tradingOnDec - if true trading active on December
- fixedLots - use the lotSize when opening positions (true) or calculate the lot size in this way: (lotSize * AccountEquity) / lotFactor.
- lotSize - lot size.
- lotFactor - used to calculate lot size in case fixedLots is false.
Control the risk and work with appropriate volumes (lots) to your capital.
Do backtest of good quality (99.9%) if you can.
It is recommended to use a low spread broker (true ECN account and/or spread less than 3 pips) and a VPS with low latency.
Monitoring Signal: https://www.mql5.com/en/signals/author/piergae
Limit of only one trade per bar of timeframe selected (suggested M1)
Possibility to use setting takeProfit = 0
Added parameters (default):