JumpTrader (JT) EA looks for a predefined price jump in a predefined time period, and trades accordingly. The default method is selling if a price jump occurs upwards and buying if a price jump occurs downward. Then the EA manages the position with the same logic of ObeyTheLimits EA. If the price moves in the opposite direction, JT opens new positions until the last position gets into profit by predefined points. Then JT closes all of the positions and starts over.
JT EA only works in M1 charts. If a higher timeframe chart is used for the EA, the trading robot warns the traders and closes itself for safety.
- jump_up (jump_down): how many points will be required to classify a price action as a price jump upwards (downwards)
- jump_time_in_minutes: this is the timeframe in minutes where EA looks for the price jumps
- start_lot: size of the initial automatic position. Next amount will be multiplied by lot_multiplier when adding new positions
- allowed_spread_for_trade: this is the maximum spread where EA may trade a price jump. This is useful for pairs that get wide intra-day spread
- open_new_if_price_oppose: set a point value so that new position is opened when the price moves in the opposite direction and the difference between current quotation and the last position price is greater than this value
- close_all_if_price_favor: set a point value so that existing position(s) is (are) closed when the price moves in the same direction and the difference between current quotation and the last position price is greater than this value
- trade_method: the two options are available - normal and reverse. In normal option, the EA sells in price jumps upwards and buys in price jumps downwards. In reverse mode, buy-sell reverses
- auto_close_open_pos: set it to true if you would like the EA to manage open positions. Set it to false if you would like to manage closing them by yourself. The ObeyTheLimits_CloseAll utility script can also be used for closing all positions
- close_all_when_fail_to_open_new_position: set it to true if you would like to start over when the EA is unable to open new position in case of insufficient funds. Otherwise, the EA will not open a new position and wait for free margin to increase or the one or more positions are stopped out
- auto_magic_number: the EA can use automatic magic number generation for the orders. The algorithm generates the same magic number for a symbol every time, so that even if you start over, the same magic number is used on that symbol. This way you can avoid malfunctioning of the EA. Sometimes, there can be conflicts in magic numbers, so that different symbols can get the same magic number (e.g., EURUSD and EURAUD), and these conflict can be avoided by the use of ObeyTheLimits_MagicNumber utility script
- magic_number: if the previous option is false, you need to specify a unique magic number for the symbol that the EA is running on.
Chart Screen Information
- As the EA waits for a price jump, you can watch the current jumps and the thresholds on the top-right of the screen. JU is for a jump up action and the immediate number is the current jump up. The number in parenthesis is the user supplied jump_up threshold. JD is for a jump down action and the numbers follow the same logic with JU.
- When EA opens a trade, information on the screen changes to display data on take profit and add position. tp is for take profit action and immediate number is the current point distance to take profit. The number in parenthesis is the user supplied close_all_if_price_favor. add is for adding a new position and the number follows the same logic with tp.