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Resistance and Support Trade

This product has been developed for semi-automatic trading. Place horizontal lines on the chart. When they are crossed by the price, a trade is opened (BUY when Res line is crossed upwards and SELL when Sup line is crossed downwards).

Attention! If you place Res line below the current price or Sup line above the current price, a trade is opened immediately!

The trade volume is calculated based on the ratio of a point price to the deposit balance so that this correlation is equal to the percentage value set in Risk variable.


Parameters

  • Delta – the number of points the price should pass after crossing the line for trade activation;
  • Stop – planned loss in points. Stop loss is set after opening a trade;
  • Profit – planned profit in points. Take profit is set after opening a trade;
  • Risk – deal volume, set in percentage of the balance per point.
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Version 2.0 - 2016.05.04
Added trailing stop (new parameter trailStop).
trailStop - trailing stop size in points. The stop is trailed once after each new bar on the chart, calculated based on the extreme value of that very bar.

At the value Risk=0 the trades are now opened with the minimum lot (previously, all available margin was used in such case).
It is now possible to specify the Magic number (new parameter Magic) in order for the EA not to interfere with the trades opened not by it.
Added check for sufficient margin.
If, for some reason, the EA was unable to place a stop loss and the Stop parameter is less than 0, the market situation will be constantly monitored, and when the specified level of risk is exceeded, the position will be closed "by market".