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Pender

Automated multi-currency Pender Expert Advisor.

Trading is performed using pending orders on important price levels, that are detected by advanced adaptive algorithm A.P.L.D. The algorithm allows to detect dynamic levels of support and resistance without any indicators. Only price behavior is being used, that gives the opportunity to respond quickly to changes of market conditions.

The A.P.L.D. algorithm provides two strategies of important price levels detection. They can be used either together or separately.


Lite version of Pender EA is also available.


Pender EA version for MetaTrader5.


Virtual StopLoss is always set.

"Dangerous" strategies are not used.

Trading can be performed either with fixed lot or with automatic money-management system.


Broker and deposit

Any 5-digit broker with low spreads and fast execution is suitable for trading.

The minimum deposit - $100.


Currency pairs and timeframe

Trading on EURUSD, USDJPY, USDCAD or on any currency pair with small spread is recommended.

Trading on several currency pairs is not recommended, because of periods of drawdown. And if such periods match on several currency pairs at the same time, common drawdown of trading

account can be noticeable.

The used timeframe is H1.

Terminal - MT4.


Parameters

  • AutoLot - can be set to true or false. If true, the EA selects the lot size for trading depending on the balance value.
  • Lots - lot size is set by a user, if the value of AutoLot is false.
  • Risk - parameter for automatic lot calculation, if AutoLot value is true.
  • DD - the maximum allowable drawdown, reaching which closes all positions.
  • OldStrategy - can be set to true or false. If true, the EA used strategy of previous versions.
  • NewStrategy - can be set to true or false. If true, the EA uses new strategy.
  • TakeProfitInPoints - take profit in points.
  • AutoStopLoss - can be set to true or false. If true, the EA detects StopLoss level automatically.
  • StopLoss - virtual stop loss in points, if AutoStopLoss=false.
  • TrailingStop - trailing stop in points.
  • VirtualTrailing - can be set to true or false. If true, the EA hides the modified StopLoss levels from the broker.
  • Delta - indent from important price level for pending orders.
  • StartHour - time to start trading.
  • EndHour - time to stop trading. All current pending orders will be deleted.
  • SummerAdjustment - adjustment for daylight saving time.
  • EAMagic - magic number of the EA, which allows it to distinguish its orders.
  • CommentOfOrder - comment to orders. Can take any value.
  • ShowInfoPanel - can be set to "true" or "false". If "true", the information panel will be displayed on the chart of the traded pair.
  • Panel_Language - language of the information panel.
  • TextColor - font color of the information panel.


Recommended settings for EURUSD are set by default.

Settings for other currency pairs can be found on screenshots of testing or in comment # 34.

By default, the StartHour and EndHour parameters are set for the winter terminal time zone GMT+2. If necessary, set these parameters according to the time zone of your terminal.

I will be happy to answer any questions you may have.

Have a successful trading.

I will be thankful for your positive reviews and ratings - it inspires me for further improvements of my Expert Advisors.


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Versión 6.7 2018.11.20
New parameter AutoStopLoss was added.
Versión 6.5 2018.11.18
Delay for order sending, when market has big volatility, was decreased.
Versión 6.4 2018.11.17
1. Code was optimized for new versions of MT4.
2. New default settings.
3. Changes in description.
Versión 6.3 2018.11.08
Opportunity to use old strategy and new strategy of price levels detection together was added.
Versión 6.1 2018.10.16
New strategy was added.
Versión 6.0 2018.09.12
Small changes in virtual TrailingStop.
Versión 5.9 2018.09.10
1. Adaptivity of TrailingStop to floating spread was added.
2. Code was optimized.
3. Unnecessary parameters were removed.
Versión 5.5 2018.08.19
Code was optimized.
Default parameters were changed.
Versión 5.4 2018.08.17
Code was optimized.
Versión 5.3 2018.07.24
Pending order management was changed in hedging strategy.
Versión 5.2 2018.07.20
Code and default parameters were optimized.
Versión 5.1 2018.07.02
Added the "Delta" parameter - indent from important price level for pending orders.
Versión 5.0 2018.06.20
Code of TrailingStop was optimized.
Versión 4.9 2018.06.13
1. Small fix of TrailingStop.
2. Added the "TurboMode" parameter , which increases the number of orders.
Versión 4.6 2018.06.05
Added information panel.
Versión 4.4 2018.01.29
1. Added the time zone auto detection.
2. Improved TrailingStop.
Versión 3.9 2018.01.22
Some conditions for order opening were changed - Pender will trade more frequently.
Versión 3.8 2018.01.12
The code was optimized.
New strategy and new parameters were added.
Virtual TrailingStop was added.