The EA is based on areas of probable reversal and trend continuation. High and low prices for the given period and candle analysis are applied. It does not use custom indicators and high-risk Forex strategies, like a grid or Martingale.
Works only on pending orders. Pending orders are placed at N distance from the current price. There may be one or two pending orders depending on the current situation. You can choose a type of pending orders in the EA's settings: STOP or LIMIT. Set liftime of pending orders (expiration). Orders are removed upon the expiration of this time. Pending orders can be modified by time upon expiration of which orders are moved at N-distance from the current time again retaining expiration time (lifetime of pending orders). Pending order modification and expiration timer is set in minutes. If TimerModifyOrder = 0, pending order modification is disabled.
If there are two pending orders, a pending order is removed if its opposite order triggers. If the EA works on several currency pairs with the same magic number, all unengaged pending orders are removed on all currency pairs of the EA, and further trading is performed on the currency pair of the opened position. If there are different magic numbers, the EA works on each currency pair separately. If an order triggers on one currency pair, pending orders of another pair are not removed.
Trades are executed by the market (Market Execution) - TakeProfit and StopLoss are placed after an order is executed and modified after a pending order triggers according the EA's settings.
- Ability to select a pending order type;
- Ability to modify orders by time according to a new price;
- Several types of trailing stop and moving trades to breakeven;
- No Grid, no Martingale;
- Stop loss and take profit are placed on every trade;
- Additional ability to close trades by drawdown or profit as %;
- PeriodAnalyzing - period of bars to perform calculations;
- ManualLot - trading lot if BalanceVolume = 0;
- BalanceVolume - calculating trading lot on the basis of the balance;
- TakeProfit - take profit in points;
- StopLoss - stop loss in points;
- ProfitClose - closing trades by profit as % of the balance; not used if set to 0;
- DrawdownClose - closing trades by drawdown as % of the balance; not used if set to 0;
- TypeOrder - type of pending order placement;
- DistanceOrder - indent from the price to place pending orders;
- TimerModifyOrder - pending order modification in minutes;
- ExpirationOrder - pending order lifetime in minutes;
- Magic - magic number;
- MaxAttempts - maximum number of attempts to open an order;
- DelaySeconds - pause in seconds between attempts to open an order;
- Slippage - maximum price slippage;
- Breakeven - enable/disable breakeven function;
- StartBreakeven - number of points to start breakeven;
- StepBreakeven - number of points to move a position to breakeven;
- Trailing - enable/disable trailing stop by points;
- TrailingStart - the minimum number of points passed from the order open price for the trailing;
- TrailingStop - the number of points to start trailing stop;
- TrailingStep - the step of the trailing stop;
- TrailingHiLow - enable/disable trailing stop by Hi-Low;
- TimeFrame - timeframe to search for low/high price;
- BarCount - number of bars to search for extrema;
- IndentHiLow - indent from Hi-Low price to place stop loss;
- ShowInfo - show/hide details;
- TextColor - displayed data color.