Two Direction is specially made to trade correlation between currencies , both positive correlations and negative correlations.This expert is the result of many years of trading experience that has been applied as an expert advisor.
The bot will Place a pending order using an adaptive trendline, if the price turns down or up, the pending order trendline will follow. With its adaptive function, you will minimize entering the market too soon or too late.
At First, only for semi manual, like set n forget bot, but it can also be used as a scalper.
You do the analysis in the morning of the Asian session, if there is a pair that can be traded, install the bot, use vps, and the rest of the bot will do its job.
When it reaches the profit target, the bot will close the position automatically and will place another pending order if possible, if only enough once, then you can activate trade continue new cycle = false, then the bot will not take a position anymore, only manage positions that are still open.
Use the smallest lot 0.01 with a minimum start balance of 1000 usd.
This bot should be paired with a trade monitor for risk management.
1. Second Symbol Correlation: fill in 2nd Pair correlation
2. Minimum Range to Start Pending Order: High and Low Range
3. Bars to count: Number of history bars to analyze
4.Range size of pending orders (in pips): Distance of pending orders from the current price, pending orders use adaptive trendline
5. Range size to move pending order (in pips): Trendline will move to the latest prices according to the number of sizes entered.
6. Start Pipstep (in pips): Initial Step
7. Pipstep Exponent: Coefficient multiplier of step increase
8. Lotsize: Initial lot
9. Maxtrade = Maximum trade allowed
10. Target money for closing orders $: Target profit in money
11. Cut loss if loss $: Target cut loss in money
12. Trail start $: Target profit in money to start trailling
13. Trail stop $: Trail step in money
14. Time control : when will start to open position and when will stop taking position.
15. Close all positions at the End of Session: Expert will close all positions after today's session ends
Determine the closing hour by activating the time control = true and filling in the start and end hours.
16. Slippage (in Pips): Deviation from the asking price
17. Maxspread (in Pips): Max Spread allowed18. Continue New Cyle: If false, then the expert will only manage open positions and will not open new positions when all positions have been closed.
1000 usd = open 2 chart = 4 pair
5000 usd = open 10 charts = 20 pairs
If you rent Two Direction, please give a comment and send me message at mql5 chat to get the indicator for free: Multi Pair Correlation Scanner and 2D Overlay.
Suggestion: If you trade more than 1 pair and open more than 1 position in 1 pair, I highly recommend using a trade monitor.
Trade monitor will make it easier for you to monitor all your trading results, in addition it will provide information on how many more pips will stopout. This stop out information is very useful so you don't over trade.
+ added Close all position at the end of session