The Tree EA
Tree EA is a fully automated breakout Expert Advisor designed for trading on the H1 timeframe.
The Trade Logic
The operating principle of this EA is based on the breakout of local levels of Support and Resistance. The indicator Parabolic SAR is a filter for signals to enter a deal. Trade is made only with SellStop and BuyStop orders. Every order has a separate level of Take Profit and Stop Loss setup, which is calculated based on the current volatility. The function of transferring a trailing profit to breakeven and order expiration time before and after the deal was open are used in this Expert. This is the way to prevent keeping the deal open for an unnecessarily long time. The Expert opens only one order in one direction at a time.
Settings and Parameters
- Lots - lot used for trading, if AutoLots = false
- AutoLots - parameter, determining if the automated money management system is going to be used (true = yes; false = no)
- AutoLotsRisk - risk in percentage of the deposit. It is used as a base for calculating a lot for every deal
- Decimals - number of decimal places for the lot to be rounded down to in case of automated money management
- MaxLots - maximum size of the lot (also valid for Lots). The Expert Advisor will not exceed it.
- TradeComment - comment for the deal (additionally displayed in the information window on the chart)
- MagicNumber - unique magic number
- ShowInfo - displaying an information window with the current comment, magic number and the Expert Advisor build (true = yes; false = no)
- HOUR1-HOUR4 - parameters of the logic responsible for the time. For correct operation they have to be set up according to the instruction below and it is not recommended to change them any other way
- group of the parameters Indicator parameters define the operational logic of the Expert. These are not recommended to be changed
Instructions and Recommendations
- Settings bundled with the Expert are optimized for the currency pair USDJPY on the H1 timeframe. To use the Expert efficiently for other pairs, you need to download settings files here or contact the developer for the relevant settings.
- Before you get started, every parameter of the group "HOUR1-HOUR4" needs adjusted according to the time zone your broker is using. The time format is = 24 hors, which means that permitted values vary from 0 to 23. Current settings are for the brokers using GMT+0. For a broker using the GMT+3 time, you will need to add 3 to the current value (e.g. 21+3=0), and for brokers using GMT-2 deduct 2 (21-2=19 accordingly). The adjustment for other GMT is similar.
- Changing and optimizing the groups of parameters "HOUR1-HOUR4" and "Indicator parameters" is not recommended without previously discussing it with the developer.
- Using the EA for the pairs it was not optimized for or for pairs with different settings are also not advisable.
- The "Money management" parameter should be set up in accordance with your approach to the money management. The initial settings are only indicative and do not consider the size of your initial deposit, permissible risks, etc.
- Minimum deposit for the work of the Expert is $100, though for comfortable trading the recommended amount is $1000-2000.
- The EA is recommended to be launched on VPS in a 24-hours mode.
- When choosing a broker, the major points to take into account are low slippage, quality of order execution and stability of connection.
- Using the Expert on several currency pairs can improve the general picture, but you need to keep in mind increasing risks. Deals for several pairs can be opened simultaneously, but there is a chance that they will be closed at loss. Assess your risks beforehand considering this factor.
Minor bug fixes;
Some input parameters has been changed.