This EA is based on the DiscreteChannel indicator.
Levels are monitored constantly and all positions are closed when the goal is reached. The user has many options for changing completely the behaviour of this expert advisor.
For a profitable trading is better to consider a broker with low spreads and a fast execution.
Limits and suggestions
Suggested timeframe: M1
A dedicated account must be used: it means only this EA and only 1 instance of it should run on an account. It can work only on a currency pair(EUR-USD for example)and no other EA should run on the account.
Before buying read this article. It can help
Deviation is set at 15 points.
During test, check carefully logs, particularly for the NOT ENOUGH MONEY. In this way you can choose the right size of your positions
- Lots: lot size.
- MaxLots: lot size maximum for position.
- Stop loss: in ticks
- Take profit: in ticks (valida only if AutoTP is false)
- AutoTP: if true Take profit is set automatically
- MaxDropDown: MaxDropDown in currency
- Counter: to increase lot size(>=1)
- LotStep: for increasing Lot size (>=0.01)
- MultiOp: Allows more operations in same band
- Goal: close all positions if gain is >= of X(in currency,e.g.20€)
- Channel height: the distance in ticks between the up line and the down line.
- Advance step: when a new level is created, a shift is applied. The shift can be anticipated or postponed.
- Auto Advance: the indicator adjust itself the direction of the advance step or eventually does not apply it.
- Use Open /Close price: the line of the channel is broken depending of the candle values. It can wait the close of the candle or reacting based on the minimum and maximum of the candle.
- Trailing 1 activation threshold: threshold in ticks for activating the trailing stop
- Trailing 1 Step: in ticks, distance between maxium price and stop loss
- Use half lot size for no trend positions: allows to place a position with half lot size if the position is considered "no trend"
Eg: supposing the market is going short but having small movements to up, it is better to put these "buy positions" with a small size.