This EA takes as a channel between your resistance and support trend lines that you draw on your graphic, and when the price reaches your support-resistance trend lines EA automatically open or close your position.
You must draw two trend line with same color for EA to work, not equidistant channel line. and this color must be specified in ChannelColor parameter
Features available for the money management
You can put limit on the number of positions that are closed with Loss...
This indicator calculates (Hourly, Daily, Weekly, Monthly) pivot point, support and resistance price with different formulation (Classic, Camarilla, Woodie, DeMark, Floor, Fibonacci) and then adds lines on the chart. Line color and style can be changed with input parameters. And you can choose alert type (Alarm activated when price reach any pivot price).
1. Calculation Method Option (Method = Classic, Camarilla, Woodie, DeMark, Floor, Fibonacci).
This indicator calculates daily pivot point, support and resistance price and then adds lines on the chart.
Indicator's calculation method is classic formulation.
RANGE= (HIGH - LOW) R3 = HIGH + ( 2 * (PP - LOW) ) R2 = PP + RANGE R1 = (2 * PP) - LOW PP = (HIGH + LOW + CLOSE) / 3 S1 = (2 * PP) - HIGH S2 = PP - RANGE S3 = LOW - ( 2 * (HIGH - PP) )
In the next version I am going to include some settings.