The Cowboy Band is an Expert Adivisor who uses one of the most used indicators on the market, the Bollinger Bands, to determine a BUY or a SELL order. It uses this indicator both to estimate whether the market is in trend or reversal. When the channel is narrow, we have a reversal condition, when the channel is wide we have a trend condition. The EA uses a Grid System to put additional orders when the first order is losing, but it have a maximum orders number to put and a dropdown trigger to prevent bigger loses. The default settings are set to EURUSD M5.
- Volume_Minimum = 69 - Minimum volume to trade.
- Volume_Period = 1 - Period of the volume.
- High_Level = 1.35001 - Maximum price for sending a BUY order.
- Low_Level = 1.08000 - Minimum price for sending a SELL order.
- Candle_Stick = 60 - Size of the Candle Stick used on calcs with Bollinger Bands
- First_Lot = 0.01 - Lot size of the first order.
- Grid_Map = 120/0.02 120/0.03 120/0.04 120/0.05 120/0.06 - Distance and Lot Size of the additional orders (Ex.: Distance/Lot Size.)
- Take_Profit = 10000 - Order Take Profit.
- Stop_Loss = 30000 - Order Stop Loss.
- Slippage = 20 - Order Slippage.
- Max_Orders= 5 - Number of additional orders.
- Start_Hour = 6 - Start hour to trade.
- Start_Minute = 0 - Start minute to trade.
- Finish_Hour = 21 - End hour to trade.
- Finish_Minute = 0 - End minute to trade.
- Number of points of the trailing stop = 52 - Trailing Stop in points.
- Total points in profit trailing begins = 52 - Trailing Profit in points.
- Trail_Step = 2 - Step Trail both Stop Trailing as Profit Trailing.
- Max_DD = 0.10 - Maximum loss of your equity. Ex.: 0.10 means 10% of DD.
- Market_Execution = true - Send a Market Execution order.
- Magic_Number = 15011983 - Magic Number.
- Write_Journal = true - Write EA journal.