TFE Price Action Levels
Price Action Levels is a automated Expert Advisor that can work as a Set and Forget EA.
The EA does NOT use grid, martingale, hedging, or any other toxic methods.
Price Action Levels uses algorithms to detect important levels of supply and demand and trades them when the levels are broken. The EA is capable of running multiple "waves". Each wave can be set individually by choosing a timeframe, indicator period, take profit and stop loss for each wave. By using different waves, the EA is capable to trade multiple signals on multiple timeframes from a single chart using less CPU and making it more suited for VPS.
- Use on EURUSD H1.
- The minimum recommended balance for the EA's use is $500.
- Using VPS with low latency will significantly increase the EA's profit.
- It is strongly recommended to use an ECN broker with low spread and 5 digits.
- Broker that closes daily candles at 5 PM New York time (GMT +2 during Winter, with NY DST).
It is NOT recommended to risk more than 1% of the balance when multiple waves are used.
- Magic Number: unique EA Magic Number.
- Money Management Type: fixed lot size or percent of balance.
- Money Management Size: risk size for fixed lot or percent of balance.
- Max Spread: maximum spread allowed.
- NFP Ban: enable/disable protection during NFP news.
- Slippage Protection: enable/disable slippage protection.
- Rollover Protection: enable/disable close trades before NY brokers rollovers.
- Use multiple waves?: Select yes to trade multiple waves.
- Indicator TimeFrame: timeframe for each wave, example: 15,60,240 (M15, H1, H4).
- Indicator Period: indicator period for each wave, example: 15,11,9.
- Adjust Level: adjusting level (in points) for each wave, example: -20, -20, -20 pips.
- Take Profit: TrailingStop start (in points) for each wave, example: 50,80,170.
- Stoploss: Stop Loss (in points) for each wave, example: 150,190,190.
- FridayCloseHour: Close pending orders at Friday at a specific hour.
- MondayOpenHour: Start trading session at Monday at a specific hour.
- Hours Allowed: Use each hour with comma, example: 4,5,6,10,11,12,13,15,16,17.
- Indicator TimeFrame: Single wave parameter for a timeframe used.
- Indicator Period: Single wave period for indicator.
- Adjust Level: Adjust a pending order in pips of a single wave.
- TakeProfit: TrailingStop start at specified value.
- StopLoss: Stoploss used for a single wave.
- Use single hour for optimization of trading sessions: Enable/disable for optimizing trading hours in backtest.
- Optimization EX: Start:8 Step:1 End:19: Set the trading hours of the backtest.