This is an automatic system that manages input signals correlating the price, places a market order and adds a stop order contrary to the opposite signal at the distance determined by the parameter "Space between orders". The concept of Cobalto is based on the volatility of the market - it looks for strong movements for buying or selling. This system is designed to be used on ECN accounts with a leverage of 1:300.
- Initial_lot: In this parameter the size of the initial lot of the market order is set. (The lot of the following orders within the cycle is calculated by a mathematical formula within the Expert Advisor). Cobalto works through a hedge: when sending a "market order", it places a "stop order" contrary to the "market order" with a new volume that covers the loss of the "market order" and also include the original profit target.
- Activate_Dynamic_lot: This parameter contains 2 conditions TRUE or FALSE. In condition "TRUE" in the moment of entering the market the EA will consider the amount of equity the account has. In condition "FALSE", it will use the initial lot parameter in the first entry of the cycle.
- Equity_per_micro_lot: In this parameter you must place the base amount which the account must have for each micro-lot, we recommend a minimum of 2,000 per 0.01 lots, this will allow you to distribute the risk using several instruments at the same time.
- Commission_lot: In this parameter you must place the average commission charged by your broker per lot (this must be evaluated per instrument), as we already said the Expert Advisor is designed for ECN account.
- Profit_points: This parameter determines the number of points that will be set as goal for each cycle, it can not contain a value that equals to 0.
- Space_between_orders: This parameter corresponds to the approximate number of points that will be established between the market order and the successive stop orders that are placed according to the number of entries per cycle.
- Hour_cycle_starts: This parameter determines the starting time at which the Expert Advisor would be enabled to execute a market order
- Minute_cycle_starts: This parameter determines the starting minute that the Expert Advisor would be enabled to execute a market order.
- Hour_cycle_end_This_filter: This parameter determines the ending time at which the Expert Advisor would be disabled to execute a market order.
- Minute_cycle_end_This_filter: This parameter determines the ending minute in which the Expert Advisor would be disabled to execute a market order.
- Volatility_range: This parameter evaluates the volatility of the instrument to determine market entry. You must consider that according to the Time Frame chosen you must recalculate this parameter.