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Forex Envelopes EURUSD

  • Forex Envelopes Expert Advisor uses a special algorithm with the Envelopes and Stochastic indicators to open positions and the Alligator oscillator to close.
  • All indicators are manually customizable.
  • This EA has a protection function in that the EA is not allowed to open positions above a spread to be set. Also there is a equity protection you can set.
  • Furthermore, you can set at what times the EA should only be active.
  • In addition, you can set the EA to close all positions below a certain equity. Stop Loss and Take Profit can also be set for each trade.
  • It is recommended to use accounts with five-digit quotes and moderate spread.
  • Use Fix Lot size or AutoLot Calculation based on Account Equity.


The Logic behind the EA

Open Long position at Bar Open when

  • Envelopes
    • The bar opens below Lower Band after opening above it
  • Stochastic
    • Stochastic rises

Close a long position at Bar Open when

  • Alligator
    • The Lips crosses the Teeth downward
  • Hit Take Profit or Stop Loss

Open Short position at Bar Open when

  • Envelopes
    • The bar opens above Upper Band after opening below it
  • Stochastic
    • Stochastic falls

Close a Short position at Bar Open when

  • Alligator
    • The Lips crosses the Teeth upward
  • Hit Take Profit or Stop Loss


Information

  • Use on several accounts is possible
  • Best result in EURUSD H1
  • Works with 4-5 digits brokers
  • Money management (Stop Loss, Take Profit, Maximum Spread, Minimum Equity) is adjustable
  • Trading times are adjustable
  • Best Timeframe: H1
  • Symbols: EURUSD
  • Minimum deposit: $500

Manual adjustment possibilities

  • Magic Number
  • Entry Lots
  • Minimum Equity to Stop the EA
  • Stop loss
  • Take profit
  • Maximum spread protection
  • Minimum Equity Stop
  • Auto lot calculation
  • Fixed lot possibility

Trading time

  • Sunday open time
  • Sunday close time
  • Monday-Thursday open time
  • Monday-Thursday close time
  • Friday open time
  • Friday close time
  • Ignore Sunday trading
  • Close trades after session close
  • Close trades at Friday close


Indicator parameters

  • Magic Number - You can change Magic Number.
  • Entry Percent - Your entry risk based on your equity value.
  • Maximum Lots - Your Maximum Lot size value when using Entry percent.
  • useFixedLot - Use Fixed Lot instead of AutoLot.
  • Entry Lots - Your Lot size value.
  • Use Spread Protection - Select if you want to use maximum spread protection.
  • Maximum Spread (points) - Maximum allowed spread to open a position.
  • Use Minimum Equity - Select if you want to use Equity Protection.
  • Minimum Equity - Stop opening new trades, close all trades and disable the EA when equity is below X amount.
  • Sunday Open - start trading time on Sunday. Enter time in seconds when the EA starts opening positions on Sundays.
  • Sunday Close - end trading time on Sunday. Enter time in seconds when the EA stops opening positions on Sundays.
  • Monday-Thursday Open - start trading time on Monday-Thursday. Enter time in seconds when the EA starts opening positions on Monday-Thursday
  • Monday-Thursday Close - end trading time on Monday-Thursday. Enter time in seconds when the EA stops opening positions between Monday-Thursday.
  • Friday Open - start trading time on Friday. Enter time in seconds when the EA starts opening positions on Friday.
  • Friday Close - end trading time on Friday. Enter time in seconds when the EA stops opening positions on Friday.
  • Ignore Sunday - Select if the EA should trade on Sundays, true/false.
  • Close at session Close - Close all positions after a session, true/false. Time you have setup before.
  • Close at friday Close - the EA will close all positions at the end of Friday session.


Indicators for opening a Position

  • Envelopes
    • Period - Indicator's Period value
    • Deviation % - Indicator's Deviation value in %
  • Stochastic
    • %K Period - Indicator's %K Period value
    • %D Period - Indicator's %D Period value
    • Slowing - Indicator's Slowing value
    • Level - Indicator's Level value


Indicators for closing a Position

  • Alligator
    • Jaws Period - Indicator's Jaws Period value
    • Jaws Shift - Indicator's Jaws Shift value
    • Teeth Period - Indicator's Teeth period value
    • Teeth Shift - Indicator's Teeth Shift value
    • Lips Period - Indicator's Lips Period value
    • Lips Shift - Indicator's Lips Shift value
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Version 1.1 - 2018.06.25
- some code improvements