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The Tree EA EURUSD is a fully automated breakthrough Expert Advisor developed for trading on the H1 timeframe. This EA is a simplified version of The Tree EA designed for work on EURUSD, H1.

The Trade Logic

The operating principle of this EA is based on the breakthrough 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.

The full version of monitoring in signals: https://www.mql5.com/en/signals/60515

Settings and Parameters

  • Lots — Lot used for trading if AutoLots = false;
  • AutoLots — Parameter, defining if the automatic system of money management is going to be used (true = yes; false = no);
  • AutoLotRisk — Risk in deposit percentage used for calculating a lot for each deal;
  • Decimals — Number of decimal places a lot size will be rounded to in case of automated money management;
  • MaxLots — Maximum lot size (valid also for Lots). The Expert Advisor is not going to use a lot greater than specified in this parameter;
  • TradeComment — Comment to the deal (also displayed in the information window of the chart);
  • MagicNumber — A unique Magic number;
  • ShowInfo — Displaying the information window with the current comment, magic number and the EA version (true = yes; false = no);
  • HOUR1-HOUR4 — Parameters of logic responsible for the time. For correct operation, they are to be edited according to the instruction below. It is not advisable to modify them any other way.

Instructions and Recommendations

  • The EA is optimized only for EURUSD, H1. The full version of The Tree EA will allow using the EA on other currency pairs.
  • Before work, every parameter of the "HOUR1-HOUR4" group needs adjusted according to the time zone of your broker. The time format is 24 hours so permitted values range from 0 to 23. Default settings are for brokers in GMT+0. So, for a broker in GMT+3, 3 is to be added to the current value (for example, 21+3=0), and for GMT-2 2 is to be deducted from the current value (for example, 21-2=19). The adjustment for other GMT is similar.
  • It is not recommended to adjust and optimized the group of parameters "HOUR1-HOUR4".
  • Parameters of the "Money management" group are to be set according to your approach to money management. The default settings are approximate and do not consider your initial deposit, acceptable risk etc.
  • A minimum deposit of $100 is sufficient for the EA to work. For comfort trading an initial deposit of $1000-2000 is recommended.
  • For best results use the EA on VPS in the 24/7 mode.
  • When choosing a broker, the major points to take into account are low slippage, quality of order execution and stability of connection. In addition, a broker is to provide quotes up-to-date. For example, a broker, who stops trading an hour or more earlier on Friday and starts an hour later at the beginning of a new week, should be avoided. Systematic loss of data bars has a negative impact on the EA results.
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Version 1.1 - 2014.12.15
Money management system updated;
Minor bug fixes;
Some inputs modified.