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One day

One day is a fully automated Expert Advisor.

  • The strategy is based on intraday trading using pending orders. After a certain time interval specified in settings, all positions are closed and all pending orders are deleted.
  • The EA does not use Martingale, grids, hedging and other risky Money Management techniques, while every trade is protected by Stop Loss.
  • The EA provides the ability to set the maximum allowable TakeProfit and StopLoss values.
  • It is possible to use a fixed lot.
  • The volume of each deal is calculated automatically, depending on the "Risk Equity (%)" variable specified in the EA parameters.
  • Minimum of settings. You only need to set the opening and closing time, the type of trade and the acceptable risk value.
  • The EA opens no more than one order of each trade type per time session (opening time and order deletion time are specified in settings), i.e. it can open one Buy Stop and one Sell Stop order.


Input parameters

Pending order placing time - the EA is allowed to place orders after this time:

  • Opening in hours;
  • Opening in minutes.

Position closing and pending order deletion time - the EA is allowed to delete pending orders and close existing positions after this time:

  • Closing in hour - deletion or closing hour;
  • Closing in minutes - deletion or closing minute.

Trade Settings

  • The magic number - the EA's identifier can be -1, 0 or any positive number.
    • If "The magic number" is zero, the EA will work with all orders opened or placed manually.
    • If "The magic number" is -1, the EA will work with all orders opened or placed manually or by another EA.
  • Allowed to open orders - choose trade type from available options:
    • No permission to open orders - the EA is not allowed to place orders;
    • Only Buy - only Buy Stop are allowed;
    • Only Sell - only Sell Stop are allowed;
    • Buy & Sell - both Buy Stop and Sell Stop are allowed.
  • Risk Equity (%) - allowable risk per trade as percentage of equity.\ Higher risk can enhance profits, but also entails higher drawdowns. See example in the figure below.
  • Fixed lot (volume) - volume of the placed orders.
    • If "Fixed lot (volume)" is set to zero, the volume for the orders to be placed is calculated automatically, depending on the "Risk Equity (%)" variable specified in the EA parameters.
    • If "Fixed lot (volume)" is greater than zero, the "Risk Equity (%)" parameter is disabled. In this case, the volume of the orders to be placed will be fixed.
  • TakeProfit max - the maximum allowable take profit in points.
  • StopLoss max - the maximum allowable stop loss in points.
    • When placing orders, stop loss is calculated automatically, but if the calculated stop loss value exceeds "StopLoss max", then the stop loss will be set to the "StopLoss max" level.


Recommendations

  • The EA parameters have been optimized for the following symbols: EURUSD, GBPUSD, USDJPY.
  • Default parameters are recommended for use on EURUSD.
  • For GBPUSD:
    • Opening in hours = 10;
    • Opening in minutes = 00;
    • Closing in hour = 16;
    • Closing in minutes = 30.
  • For USDJPY:
    • Opening in hours = 3;
    • Opening in minutes = 00;
    • Closing in hour = 18;
    • Closing in minutes = 30.
  • The minimum recommended deposit is $100.

If you have questions or ideas for improving this Expert Advisor, please contact me.

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Version 2.0 - 2018.07.24
Added input parameters:
Fixed lot (volume) - fixed lot size. If "Fixed lot (volume)=0", the lot size will be calculated automatically.
TakeProfit max - the maximum allowable Take Profit value, in points.
StopLoss max - the maximum allowable Stop Loss value, in points.