Momentum wave Breakout
- Experts
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Dipak Dilip Reddy
I am a professional trader in the stock and currency markets with more than three years of experience. I use both algorithmic and manual trading strategies to optimize my performance and achieve my goals. - Version: 3.4
- Activations: 10
Here's a short note explaining some of its key aspects:
The code starts with defining various input parameters such as entry amount, stop loss, take profit, and indicator parameters.
The code includes functions and variables to manage trading positions, handle position updates, and check entry signals.
The OnInit() function is called when the EA is initialized and performs necessary initialization tasks.
The OnTick() function is called on each tick and checks if a new bar has formed, then calls the OnBar() function accordingly.
The OnDeinit() function is called when the EA is removed from the chart and performs cleanup tasks such as removing indicators.
The OnBar() function is the main trading logic that updates positions, checks for session close conditions, manages position closure and trailing stops, and opens new positions based on entry signals.
The GetEntrySignal() function determines the entry signal based on indicator values.
The ManageClose() function checks if the position should be closed based on indicator values.
The OpenPosition() function opens a new position with the specified lot size, stop loss, and take profit.
The ClosePosition() function closes the current position.
The ManageOrderSend() function sends an order request and handles retries in case of failures.
The CheckOrder() function checks if an order request is valid and handles errors.
The GetStopLossPrice() and GetTakeProfitPrice() functions calculate the stop loss and take profit levels based on specified parameters.
The GetTrailingStopPrice() function calculates the trailing stop price for a position.
Preferred instrument: EURUSD M30
Preferred brokers: Octafx incorporated.
Overall, this code represents a trading strategy using three indicators: Accelerator Oscillator, Williams' Percent Range, and Envelopes. The EA opens and closes positions based on the values of these indicators.
