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ZigZag Breakout

According to the strategy, a position is opened at a breakout of extreme values drawn on the chart by the ZigZag indicator. VSP is required for flawless operation, the recommended minimum deposit is 1000 units of the base currency. The EA is to be used on timeframe M5-H1 on highly liquid currency pairs with a small spread/commission (for example, EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, NZDUSD, EURJPY, EURGBP and EURCHF).


Features

  • Has a predictive algorithm based on price models, stop-loss and take-profit levels;
  • Provides adjustable functions of pyramiding, hedging and grid of orders.
  • Position tracking can be one of three types: single closing, unidirectional or multidirectional order basket;
  • Maximum compatible functionality, which allows you to customize the initial strategy of order opening.
  • The EA can be used with any trading strategy, both manual or automatic (Expert Advisors) if MagicNumber = -1.


Advantages

  • The EA works on candle open prices;
  • FIFO compatible if pyramiding, grid and hedging are not used.
  • Designed for real trading under today's market conditions.
  • Uses pending orders and real stop orders.
  • It does not depend on the trading account type and the broker.
  • The product works both with small and large deposits.
  • Resistant to connection loss, gaps, slippage and spread widening.


Expert system

The algorithm collects price patterns from the history and analyzes further movement statistics to build the depending on the stop-loss and take-profit levels. For the EA operation, the 1-year quotes history preceding testing/optimization start time must be predownloaded for all currency pairs and timeframes, on which the EA will be running. The lower the timeframe, the more price patterns the EA will determine, accordingly, there will be more trend change signals.


Main Parameters

  • BuildingForecast - the number of patterns to prepare a forecast, from 2 to 7. Not used if -1.
  • x1,x2...x16 - weight coefficients, from 0 to 100;
  • StartWorkingTime, EndWorkingTime - trade timing.
  • OpenPositions - order opening strategies:
    • SingleOpen - single opening;
    • Grid - a grid of orders.
    • Pyramiding
    • Hedging - hedging on the symbol.
  • OppositeDirection - open positions opposite to the signal.
  • OpposingPositions - enable oppositely directed positions;
  • VolumeCalculation - trading lot calculation method:
    • Manual - set the initial lot manually.
    • Balance - lot calculation based on the balance value.
    • Equity - based on equity.
    • FreeMargin - based on free margin.
  • InitialVolume - initial lot or % depending on the selected method.
  • VolumeBehavior:
    • SameVolume - the same lot.
    • IncreaseVolume - lot increase.
    • DecreasesVolume - lot decrease.
  • OrderOpenStep - starting step for order opening.
  • OrderStepBehavior - step behavior:
    • SameLevel - permanent step.
    • IncreaseLevel - step increase.
    • DecreasesLevel - step decrease.
  • ClosingPositions - order closing strategies:
    • SingleClosing - single closing.
    • UnidirectionalClosing - closing a unidirectional basket of orders.
    • MultidirectionalClosing - multidirectional closing.
  • TakeProfit - take profit; not used if -1.
  • StopLoss - stop loss; not used if -1.
  • Breakeven - breakeven; not used if -1.
  • TrailingStop - trailing stop; not used if -1.
  • MagicNumber - EA ID, if -1 the EA will work with all orders.
  • OrdersComment - a comment to trades.
  • Visualization - show information on the chart.
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