Support and Resistance Seeker
Support & Resistance Seeker is an Expert Advisor that automatically recognizes significant levels of price such as Support & Resistance and evaluates their importance. The Expert recognizes the levels at certain time when majority of the exchanges are closed. Then those levels are used in the following 24 hours.
- Money Management: the EA automatically carries out reinvestment, increasing the lot in accordance with the growth in deposits.
- Currency pair: EURUSD.
- Timeframe used: H1.
Does not use Martingale.
The Expert supports МТ4 build 600 and above.
ECN broker with low fixed spread and VPS are recommended.
- SL in points. For buying StopLoss= Support SL. For selling StopLoss = Resistance + SL.
- MaxSpread maximum value of spread in points.
- CloseHour the time when the Expert stops opening orders.
- Day_out day of the week when the Expert does not work. 0 - Sunday, 1 - Monday, etc
- Asia enables work during the Asian session.
- Magic recognizes "own" and "alien" deals. Use it, if you want to launch several experts on one account.
- Comment. Here you can add your comment for the operations.
- F1….F5 filters for adjusting the Expert Advisor.
If the filter value is equal to 0, it is disabled.
Different brokers will have different results as the latter depend on the spreads, commissions, slippage and the time, spent on opening a position. Test the Expert on the historical data for finding the best parameters and on a demo account for checking the selected parameters. For gaining maximum performance we recommend carrying out optimization on all ticks for the last year on the H1 timeframe.
- Risk_Percent - if you want to calculate a dynamic lot, use Lot=0 as percentage of the balance and Risk_Percent greater than 0. If you want to trade with a fixed lot size, indicate the exact value.Lot.
- Max_orders is a maximum value of open orders.
- GMT_set is the difference between the local time of your terminal and GMT (UTC).
- DST- if your terminal does not take into account daylight saving time (Daylight saving time http://en.wikipedia.org/wiki/Daylight_saving_time), then put DST=1 at the change to summer time.
• Using the information panel – (true/false) - switch on/off the information panel.
• With a double-click and drag-and-drop can be moved anywhere on the chart.
- Independence from the timeframe. Support and Resistance Seeker now works on any timeframe. When using the tester in mode other than "Every tick" set timeframe to H1.
Small changes in graphical objects.
- Improved "OnInit()" initialization of the EA.
- Small changes in graphical objects.
Optimization Range: F3
Start = 500
Step = 50
Stop = 1000