Pin Bar Expert MT5
The Expert Advisor trades according to Pin Bar pattern on H4-D1 charts. The EA has two different trailing stops – by points and extremums, as well as two stop loss types – fixed and dynamic. Dynamic stop loss is placed at the candle's High or Low depending on the pattern direction.
Trailing stop: first, trailing operates by points up to the TrailingStop distance specified in points. After passing the distance, trailing by previous Hi-Lows of bars is enabled. Trailing by the previous bars' Hi-Low searches for extreme values on a specified period and number of bars. Stop loss is placed on an extremum plus/minus n points (depending on the direction) set in the EA parameters.
Recommended currency pairs for the EA operation: EURUSD, USDJPY, GBPUSD, USDCHF, EURJPY, USDCAD, AUDUSD. VPS server is required.
The EA monitoring: https://www.mql5.com/en/signals/author/moneystrategy
- Com – a comment to trades;
- BalanceRisk – calculation of trading lot from the balance/free margin;
- Lots – fixed lot if BalanceRisk = 0;
- TakeProfit – take profit level in points;
- StopLoss – stop loss level in points if DynamicSLPinBar = false;
- MaxOpenTrades – maximum number of open trades at a time;
- SpreadControl – maximum spread;
- Magic – magic number;
- ShowInfo – show/hide info;
- TextColor – displayed data color.
AntiRequotes Function Settings
- MaxAttempts – maximum number of attempts to open an order;
- DelaySeconds – pause between attempts in seconds;
- Slippage – maximum price slippage.
Breakeven Function Settings
- Breakeven – enable/disable the function for moving trades to breakeven;
- StartBreakeven – number of points profitably passed by the price to move positions to breakeven the first time;
- StepBreakeven – distance in points to place the breakeven level the first time.
Trailing Stop Settings by Points
- Trailing – enable/disable trailing stop function by points;
- TrailingStart – minimum number of points passed from the order open price for the trailing;
- TrailingStop – number of points to start trailing stop;
- TrailingStep – trailing stop step.
Trailing Stop Settings by Extremums
Depending on the parameters, the EA searches for High/Low price for n bars to place a stop loss (trailing).
- TrailingHiLow – enable/disable trailing stop function by extremums;
- TimeFrame – period to search for high/low price;
- BarCount – number of bars to search for extremums;
- IndentHiLow – distance from High/Low price in points for placing a stop loss.
Pin Bar Settings
- DynamicSLPinBar – enable/disable dynamic stop loss;
- IndentDynamicSL – distance from an extremum for the dynamic stop loss in points;
- NoseMinSize – minimum nose size of the Pin Bar, in points;
- BodyMinSize – minimum body size of the Pin Bar;
- BodySizeRatio – maximum body/nose ratio of the Pin Bar;
- ShadowSizeRatio – maximum shadow/nose ratio of the Pin Bar;
- UPPinBar – bullish pattern color on the price chart;
- DNPinBar – bearish pattern color on the price chart.