Strx Trendline Break and Bounce Trader
Trendline based utility, you design your trendlines or horizontal lines, the EA opens trades for you
- Possibility to trade on break and/or bounce events
- Indipendent break and bounce settings
- Configurable market, stop and limit orders
- T1T2 Logic to lock profits and minimize losses
- Trailing Stop Loss
- Max Spread check
- Notifies you when your trendlines are crossed
- No strange trendline name or syntax, you decide the color of trendlines to monitor and EA open trades for you or only notify you as soon as they are crossed.
Testable in MT4 strategy tester; being a semi-automatic EA it is backtestable in visual mode.
T1T2 means that when points specified are reached, half of order gets closed and stop loss moved to breakeven.
Works on every pair and every timeframe; best results obtained on H4 timeframe, but can be used even for scalping on M5 and M15
EA works in points, 10 points always equal to 1 pip even if your account is a 4 digits account: for example, 20 pips stop loss always equal to 200 points.
- ActiveTrenlinesColor: EA watches trendlines and horizontal lines of this color; every other trenline or horizontal line is ignored
- TradeTrendlineBreak: if true, when a trendline or horizontal line gets crossed, EA open a trade in same cross direction; for example, if a support line gets broken, EA open a SELL trade, otherwise if a resistance line gets broken EA open a BUY order.
- BreakOrderType: order to open in case of line breaking, can be:
- PO_TYPE_MARKET: open a market order at current price
- PO_TYPE_STOP: open a STOP pending order at current price +/- BreakPendingOffsetPoints points
- PO_TYPE_LIMIT: open a LIMIT pending order at currente price +/- BreakPendingOffsetPoints points
- BreakPendingOffsetPoints: See BreakOrderType before
- BreakSLPoints: Initial Stop Loss points; for example, if you want a 20 pips initial stop loss, specify 200
- BreakTPPoints: Initial Take Profit points
- BreakLots: Trade volume for break events
- TradeTrendlineBounce: if true, when a trendline or horizontal line gets crossed, EA open a trade in opposite cross direction; for example, if a support line gets broken, EA open a BUY trade, otherwise if a resistance line gets broken EA open a SELL order.
- BonceOrderType: see BreakOrderType description above
- BouncePendingOffsetPoints: see BreakOrderType description above; has same behaviour but for Bouncing orders
- BounceSLPoints: Initial Stop Loss points for bounce orders
- BounceTPPoints: Initial Take Profit points for bounce orders
- BounceLots: Trade volume for bounce events
- DeactivateTrenlineAfterBreak: if true, when trendline or horizontal line gets crossed, its color is changed to DeactivatedTrendlinesColor; in this way they will be ignored on next tick events
- DeactivatedTrendlinesColor: deactivated trendlines color
- TrailSLPoints: Trailing Stop Loss points; the more your trades get profitable, the more your stop losses get smaller securing profits and limiting losses
- T1T2Points: when a profitable trable reach this number of profit points, half of order gets closed and stop losses is moved to open price (breakeven). This is a common strategy used by many FX professionals
- MaxSpreadPoints: orders are opened only if spread is less or equal than this value
- PendingOrdersExpirationSeconds: in case or stop or limit orders, they will expire after the number of seconds specified here
- CancelOrphanPendingOrder: if true, if you decide to open 2 limit orders in case of break and bounce, when one is activated the other gets canceled avoiding edging and/or unwanted doubled orders
- NotifyTrendlineCross: if true, when a trendline or horizontal line gets crossed, a notification will be sent to you linked smartphone with MQL app installed
- MagicNumber: number used by EA to identify its orders; if 0 it is auto-generated by pair and timeframe; if you want to activate more than one indipendent EA on same pair and timeframe, please specify a unique number here