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Setup 9 Expert Larry

Setup 9 Expert Larry

This EA performs day-trade operations automatically in favor of local trends, with trading based on three different Larry Williams Setups (9.1, 9.2 and 9.3). For the sake of investor security, trades are automatically terminated at the end of the initial entry trends or when the EA's Take Profit or Stop Loss levels are reached. In addition, the user can set the preferred trading window, avoiding orders outside the specified period (positions are also automatically closed outside this period determined by the user).

The Expert can be optimized for any currency and chart period to suit the user's trading style. The number of contracts to be operated is constant and defined by the user, in order to provide a better management of the risk involved in each operation. Widely configurable, EA also enables the inclusion of:

  • Stop Loss based on Larry Williams setup strategies
  • Constant trailing Stop Loss
  • Break Even
  • Partial position close
  • Minimum return required between Stop Loss and Take Profit for new entry

Expert's trades management algorithm is based on Price Action analysis, finding local extreme values to define the best entry and exit points for the user.

All algorithm parameters are configurable and can be optimized by the user.


Parameters
Moving Average period (int) Moving average period to be used into the Setup 9 strategy
Moving average method Moving average method to be used into the Setup 9 strategy
Order volume Constant number of contracts in an order
Trading opening hour (h) No order is to be placed before the opening time
Trading opening minutes (min) No order is to be placed before the opening time
Trading closing hour (h) Positions are closed and no orders are placed after closing time
Trading closing minutes (min) Positions are closed and no orders are placed after closing time
Setup 9 stop loss trailing Enable Stop Loss trail according to Setup 9 Strategy
Setup 9 stop loss candles (int) Bars to be used for Setup 9 Stop Loss analysis
Setup 9 stop loss ticks (int) Ticks of distance between calculated and utilized Setup 9 Stop Loss in an order
Enable constant stop loss trailing Enable constant Stop Loss trailing
Price variation for trail update Minimum variation for constant Stop Loss update
Break Even enable Enable Break Even
Break Even threshold (pts) Traveled ticks needed to trigger the Break Even
Break Even offset (pts) Break Even position adjustment after firing
Enable Setup 9.1 strategy Enable setup Strategy 9.1 (not exclusive)
Enable Setup 9.2 strategy Enable setup Strategy 9.2 (not exclusive)
Enable Setup 9.3 strategy Enable setup Strategy 9.3 (not exclusive)
Pending order duration (int) Number of new candles until cancelling a pending order
Minimum trend slope for an entry (pts) Minimum slope required at moving average for new order
Enable partial close - Double scale out Enable partial close of positions
Double scale out volume proportion (0-1) Partial close volume relative to the position volume
Double scale out take profit proportion (0-1) Take Profit of partial close relative to total Take Profit
Bars considered for peak and valley identification (int) Total number of bars used in peak and valley analysis will be equal to (value * 2 + 1)
Minimum return ratio required for a new order (1) Minimum Take Profit and Stop Loss ratio to place an order


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