Professional Constrictor Expert Advisor follows the market using the Parabolic Stop and Reverse system indicator. At each Parabolic SAR indicator signal, a position is opened in the direction approaching the indicator. In case of an opposite signal, a new position closing the previous one is opened (in other words, positions are opened and closed partially). Thus, the EA constantly follows the price.
The EA has been designed for working in the flat market. It features a critical drawdown, at which all positions are closed. In order to diversify the funds efficiently, it is recommended using the multicurrency operation mode, at which 10 currencies are selected, while the risk is reduced 10 times and the critical section is also reduced 10 times. Approximate open prices can be used for optimization (sample settings can be found in the Comments).
The EA correctly processes errors and works reliably with the balance of $1 000 or more. The Expert Advisor uses the basic concepts: breakeven, trailing stop, stop loss and take profit. Better test with the broker who provide five-digit quotes, and even better on the MetaQuotes-Demo server.
- SetName – setting name (any);
- OrderComment – order comment;
- Magic – magic number;
- ProhibitNewSeries – if you need to close the current position and stop opening new ones, enable this option;
- LotRounding – lot rounding (to a required number of decimal places);
- TypeRisk – risk calculation equation;
- Risk – risk for automatic lot calculation;
- PeriodSignal – indicator period;
- Stoploss – stop loss;
- Takeprofit – take profit;
- TrailingStart – start of trailing stop;
- TrailingStop – number of points to trail the stop level;
- step – Parabolic parameter;
- maximum – Parabolic parameter;
- WorkCloseReversLong – allow closing a long position;
- WorkCloseReversShort – allow closing a short position;
- CriticalDrawdownLong – critical long position drawdown;
- CriticalDrawdownShort – critical short position drawdown.