This is a fully automated free version of Pender Expert Advisor.
Lite version of Pender EA is also available.
Trading is performed using pending orders on important price levels, where the price had slowed down during the recent time periods.
The EA includes two strategies of important price levels detection. They can be used either together or separately.
Virtual StopLoss is always set.
"Dangerous" strategies are not used.
Differences from full version :
1. Opens only SELL positions.
2. Trades with 0.01 lot only.
Broker and deposit
Any 5-digit broker with low spreads and fast execution is suitable for trading.
The minimum recommended deposit - $50.
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.
Timeframe - H1.
Terminal - MetaTrader 4.
You can evaluate my other products here: https://www.mql5.com/en/users/alcad83/seller
- 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 # 76.
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.
2. New default settings.
3. Changes in description.
Adaptivity to floating spread was added.
2. Default parameters were changed.
Added the new parameters.
Added the info panel.