Silver Line Lite EA
This Expert Advisor is a light version of the Silver Line EA and is optimized exclusively for EURGBP. If you will use the EA on other pairs, you need to optimize the settings for best result.
The EA automatically determines the number of digits in quotes. The expert advisor can work on standard accounts, ECN, cent and micro accounts.
The timeframe on which the expert advisor works is defined in the settings. Therefore you can put any period on the chart or change it during work, the result is not affected.
The recommended leverage is 1:500 (1:400).
The monitoring of the EA on a real account you can see by the link.
The default settings are optimized for the EURGBP pair.
In the Expert Advisor, two variants of the trailing stop are implemented. Classic and trailing stop on the previous bar.
- Disabled - trailing stop is disabled.
- Standard - the standard (classical) variant of the trailing stop.
- Previous Bar - trailing stop on the previous bar.
The standard trailing stop includes the parameters: Trailing Stop and Trailing Step.
Trailing stop on the previous bar uses the parameters: No of Previous Bar and HighLow Price Shift.
The expert advisor can open orders using a dynamically calculated lot value. In this case, the lot will depend on the size of the deposit and on the value of the risk parameter. I recommend the risk parameter to choose no more than 0.6 with a deposit of at least 2000 units.
You can also use a fixed lot size. In this case, all the first orders in the chain will be opened with the specified lot size.
To prevent the opening of the orders in the period release of strong news or just before the market closes, the adviser has a spread filter. This filter is disabled by default.
The minimum recommended deposit is about 2000 USD on standard accounts.
With smaller amounts of deposit, you need to use cent accounts or micro accounts.
- Risk - the risk value. Used to calculate the dynamic lot size of the order;
- Fixed Lot Size - fixed lot size. If set to 0, the EA uses the dynamic lot size;
- Spread control - enable/disable spread filter;
- Maximum spread - maximum allowable spread;
Buy and Sell Section
- TP for Single order - expected profit for a single order, in points;
- TP for 2 orders - expected profit with two open orders, in points;
- TP for 3 orders - expected profit with three open orders, in points;
- TP for 4 orders - expected profit with four open orders, in points;
- TP for 5 orders - expected profit with five open orders, in points;
- Min Candles - minimum time between the orders, in minutes;
- Min Distance - minimum distance between the orders, in points;
- Min Range - minimum allowable deviation of the indicator;
- Period - period of the indicator;
Trailing Stop Section
- Trailing First Order Mode - the used variant of the trailing stop for the first order;
- Trailing Other Orders Mode - the used variant of the trailing stop for all orders except the first;
- No of Previous Bar - number of the bar that will be used as the stop loss price;
- HighLow Price Shift - shift of the stop loss price from the previous bar's price;
- Trailing Stop - profit to activate trailing stop, in points;
- Trailing Step - step of trailing stop, in points;
- Work Timeframe - working timeframe;
- Slippage - maximum allowed price of slippage, in points;
- Order's Comment - comment of the Expert Advisor's orders;
- Magic Number - unique number of the Expert Advisor's orders (any number);
For any questions please send me a private message. I will be glad to help you.