Open Season is a fully automated Expert Adviser that allows 'active' and 'set and forget' traders to trade high probability EURUSD H1 price action breakouts. It detects price action set ups prior to the London Open and trades breakdowns.
- The EA draws from human psychology to trade high probability shorts
- Every trade is protected by a stop loss
- In-built time filter
- Three position sizing techniques to suit your trading style
- Two trade management techniques
- The EA does not use a Martingale system
- The EA does not use Hedging, and complies to FIFO rules
Minimum Account requirement can be as low as 100$ for use with fixed lots, however, 500$ is the minimum requirement to use dynamic risk and inter-trade scaling effectively.
Open Season does not require any optimization.
Open Season works with well with most execution speeds and brokers. Minimal spread is preferred but not necessary. (ECN & VPS are preferred but not necessary).
Trading on Live Accounts
This EA is designed to last. It works best in downtrends and under fearful market conditions, however it can function in all conditions. That being said there will be drawdowns, as with every system. However, with a properly sized account, sensible risk and a diversified portfolio the drawdowns should be minimal.
Position Sizing Techniques:
- Inter-Trade Scaling: Open Season uses price action and previous trades to detect if we are in a downtrend and increases/decreases lot sizes accordingly.
- Fixed Lots: You may fix the trading size to suit your account size or trading needs.
- Risk Settings: You can adjust the risk of 3 subsets of trades
- Normal: No take profit is set; you may close the trade at any time or allow the EA close the trade at an optimized time before the Asian Open. Smart move to break-even levels are automatically enabled.
- Safe Take Profit: A take profit calculated based off of intra-day volatility is automatically calculated and set. Smart move to break-even levels are automatically enabled.
- Magic Number - Use this to set the Magic Number to track trades made by Open Season.
- SafeTakeProfit - True activates SafeTakeProfit & False deactivates
- SafeTrade - True activates SafeTrade & False deactivates
- TradeMonday - True allows trading to occur on Monday
- TradeWednesday - True allows trading to occur on Wednesday
- Trade Only Fixed lots - True activates Fixed Lot trading & False deactivates
- Fixed Lot Amount - Enter the amount in Lots that you would like to trade: eg. 0.01
- Activate Inter-Trade Scaling - True activates Inter-Trade Scaling & False deactivates
- StopLossMultiplier - This value directly affects stop loss distance, a larger StopLossMultiplier increases Stop Loss distance
- Slippage in points - This value indicated the allowed slippage in points
- TimeOffset - This value must be input for Open Season to work, please find the time difference between your broker and GMT. EG: EUROPE (1), EST (-5) INCLUDE THE MINUS
- LASTCALL - Trade signals after this time are considered false and are not acted upon
- DAYCLOSE - Trades are closed at this time if they have not been already
- Risk1 - % Balance risk on high probability trades 1 = approx. 1% 70%+ win (Based on Backtests)
- Risk2 - % Balance risk on medium probability trades 1 = 1% 60%+ win (Based on Backtests)
- Risk3 - % Balance risk on medium - low probability trades 1 = 1% 50%+ win (Based on Backtests)
Inter-trade scaling will change %balance risked depending on market conditions. A value of 1 = 1% per trade over time.
Do not hesitate to contact me if you are having trouble finding the correct TimeOffset, or are experiencing any other issues.
Presets are available in the Comments page.