Power Levels is a semi-automatic utility that uses user-drawn HORIZONTAL lines to trade. The program needs at least one horizontal line on chart to trade on. It reads automatically the presence of these objects. The way it works is really simple :
- A user draws a horizontal line/ Or an Indicator does it automatically
- After it attached to chart it starts interpreting the lines as levels and prices
- The trades occur on line breakout / when crossing from below - a buy trade is opened/ when from above - a sell trade
- The user can easily set tolerance from the line for the trade functions, using the special function for this
- Also the money management, implemented in the product, is easy to operate with.
Recommended pairs EURUSD / AUDUSD / EURGBP / AUDCAD / GBPUSD / EURAUD / USDJPY / NZDUSD
Time Frames M1 - H1 // You can use all TF from one minute to one hour.Best used in conditions of good directional movement.
- 4/5 Digit Broker Adaptations
- Protection via the use of StopLoss
- No high risk strategies
- Balanced trading algorithm
- Adaptive money management system, benefiting from the trend building up/down
- Break even stoploss
- Incremental function for the stop loss - when orders are opened one after another up or down , the stop loss of the upper order "drags" the stop loss/ break even of the lower
and created a risk free environment
Example A. - There two lines drawn above the current price level. The price breaches both, but when breaching the upper line, when order is opened, the stop loss of the lower buy is taken to the level of the upper stop loss/ break even. This operation of modifying stops is made each time an order is opened in the same direction or a Break Even is executed. Therefor a beautiful cascade reaction is built up.
- Tolerance for opening trades
- Can trade with metals/ indices/ oil etc.
Only needs a good trend / direction to build up great consistent profits.
- TakeProfit in pips - The distance from the order open price measured in pipsIt can take values from 0 to 1000. If you set up 0 the primary way orders are closed automatically in profit would be via break even and the incremental feature of the EA. So that the next trade if in the same direction would "drag" up/down the BE and will cause cascade profits. You can also use it with different values(pips), but we advise to change and adapt the TP every time the time frame is changed, and keep in mind the distances between lines, if you want to use the incremental trail - leave the TP little above the distance between lines.
- StopLoss in pips - The distance from the order open price measured in pips
- AfterLine Tolerance - pips - Tolerance from the horizontal line to open tradeWe recommend the usage of this tolerance input, this way false signals are filtered. A variety of combinations for breaking out through the lines have been implemented, so that no real signals get trapped and stopped. Important! Have in mind our advice to adapt it for different time frames and/or distances between lines.
- Breakeven Trigger pips - The distance in pips that the price should go up/down to trigger the break even
- Breakeven size - The position of the new stop lossThe way its calculated : after the BE is triggered the new SL is at the level of the Order Open Price +/- the BE size(pips). For example 3 pips above the order open price !
- Enable Incremental trailThis input enables stop loss adaptation - when a new order of the same type(buy/sell) is opened, the previous`s order stop loss is lifted/dropped to the level of the newest order`s stop loss. This operation is executed each time order is opened in the same direction or break even is triggered.
- Slippage - Slippage tolerance parameter
- Magic Number - The unique number for order opened by the "Power Levels" software
- AutoLotEnables the dynamic lot calculation. This means that all base(not incremented) lot size are going to be equal the risk percentage of the Account free margin.
- Risk percentage - The risk taken for opening a new order
- Initial/Incremental lotsizeThis parameter is used in two cases : Both if the auto lot is not enabled, then is used as base lot size,and as incremental lot size - if there is more than one order per type.