When there are extensions on the
price action there are imbalances between buyers and sellers and often the
price will retrace, caused by emotional trader decisions; this behavior always
happens and always will. So the probabilities are in our side and the EA wait for
the ideal extension pattern in order to enter with a risk of 100 Point and a
reward of 200 Point.
The Stop Loss is managed well during the trade lifetime and the partial profits allow taking advantage of the temporary retracements.
This EA works with success on EURUSD M5.
Here the settings:
- risk: risk in percentage based on the balance (for example, 1 means 1% risk)
- compounding: improve the money management with the risk based on the compounding effect.
- lots: option to open orders with a predefined lots, specified in the option lots. If is 0, this option is not used.
- distSL: distance of the Stop Loss in Points
- RR: distance of the Take Profit target based between the distSL and the Risk-Reward Ratio.
- filterHoursLimitation: filter that allows to stop the EA during the specified hours in HBF and HBT (for example HBF 13 and HBT 5 means that from 13:00 to 5:59 broker time the EA is stopped). [Basically the EA works only 6 hours from 6:00am to noon broker time]
- HBF: starting hour when the EA is stopped.
- HBT: ending hour when the EA is stopped.
- selectWorkingDays: select the working days of the EA separated with “,” (1 Monday, 2 Tuesday, 3 Wednesday, 4, 5 , 6 Sunday) [for instance “3,4” means that the EA works only on Wednesday and Thursday].
- StopProfitStrategy: number that define the Strategy of the Stop Loss management during the trade lifetime (leave the default number or put 0 to not use this option).
- TrailingStopMovement: this option allows moving the SL dynamically (Point by Point) until it reaches the breakeven point. It is a Trailing Stop till breakeven Point.
- partialRange1/partialProfits1: range calculated in percentage from the total distance of the Take Profit (in this case 0,6 x 200 = 120, when the trade reaches 120 Points in profit it takes partialProfits1 0,5 (50% or half of the position in profit).
- partialRange2/partialProfits2: same at the previous one, in this case partialRange2 has to be greater than the first one, otherwise if 0 is not used
- activateMoneyManagement: the money management included is the Anti-Martingale system that increase performances and lower the DD (I created a Money Management algorithm included!)
- commentTrade: put your preferred comment or leave blank to the default comment