Pump Up The Pips
Features & Advantages
We believe that the most important thing on forex business is to secure our account. Pump Up The Pips has several protection means to do that:
- Maximum spread setting to prevent opening trades when spread is too wide.
- Minimum margin level to open trades; prevents the EA to continue opening trades when margin level is getting lower.
- Counting other symbols trades when used on multiple symbols, when total orders of other symbols reach the limit than it stops opening trades.
- Trading time setting to prevent opening trades when news release.
Other advantages of this EA:
- Works on 4 or 5 digits.
- Displays status.
- Shortcut to show Account Information.
- Shortcut to close all current symbols trades (timing is important).
- Shortcut to close all trades.
- Continues signals by indicator.
- Settings to buy only or sell only.
- Minimum minute setting to close trades (some brokers use the rules).
- Low price for an EA with many features.
How it works
Pump Up The Pips works basing on the grid method combining with price movements and logical calculation. By opening several trades in one direction, we can set the amount to take profit on total (TotalProfitToClose). We know that price not always goes down nor goes up, we can take profit from this volatility. Of course we should pay attention to how much our balance is. With leverage 1:500 the minimum balance for standard lot (100,000) is $1000, but the ideal balance is $6000. You may use another broker that uses different lot size (10,000) to lower the balance ($100-$600).
There's a "Take Profit by time". After last trade is active more than minutes we defined, trades will be closed when the first trade's profit reaches our setting (for same symbol only).
When total profit (all symbols) reaches the setting, all trades (all symbols) will be closed.
Use only on 'safe' pairs like NZDUSD, USDCAD. If you use it on high volatility pair like EURJPY, GBPUSD, then you should increase your balance.
- StartEA — Set true to place the first trade, next trades do not depend on this input.
- MaxSpreadToTrade — Define the max spread to allow trades opening.
- MinMarginLevelToTrade — Minimum margin level to prevent trades opening when it's getting lower.
- OtherTradesLimitToStopOpenTrade — How many other symbol trades to prevent current symbol open trades.
- InitLot — Initial Lot.
- BaseLotIncrement — Base Lot increment, increase the lot size for the next trade.
- SmartLotFactor — BaseLotIncrement addition when total trades increase. Set to 1 for fixed increment.
- TradesDistance — Distance in pips/points to place the next pending trades.
- LevelToIncreaseDistance — Number of trades to start distance increment.
- DistanceIncrement — Increases the distance when total trades reach LevelToIncreaseDistance.
- MaxTrades — Maximum trades allowed, may not reach if MinMarginLevelToTrade is active.
- MinMinuteToClose — Minimum number of minutes to close trades on total profit or MinFirstTradeToClose.
- MinFirstTradeProfitToClose — Minimum first trade profit to close all the same symbol when last trade symbol is active more than MinMinuteToClose.
- TotalProfitToClose — Total profit to close all trades (all symbols).
- BuyOnly — Set to true to force open buy trades only.
- SellOnly — Set to true to force open sell trades only.
- slippage — Slippage setting.
- UseTradingTime — Set to false to trade all the time, set to true to use trading time defined below.
- Monday — Set to true to trade on Mondays (UseTradingTime=true).
- MonStart1 — First start time to trade.
- MonStop1 — First stop time to trade.
- MonStart2 — Second start time to trade.
- MonStop2 — Second stop time to trade.
- Tuesday/Wednesday/Thursday/Friday — Same as Monday.
PM me if you have any questions.
PS: This EA is also great for collecting rebate from your broker.
The only new parameter is:
MagicNumber = 5000 used for differentiate between trades with different MagicNumber