SqueezeMarket EA Utility is an Utility EA that works normally in the environment where the market direction could not be ascertained. It helps the trader to open both the Buystop and Sellstop pending orders at once.
After you see the market squeezed for a particular period on any currency pair, then, you will first of all plot an upper channel line on your chart window and do the same for the lower channel line, then open your SqueezeMarket EA Utility parameter settings by right clicking on the chart window of your pc and enter the price on which the upper channel line falls and do the same on lower channel line. and click OK, then come to the chart to click on Chart button "Open Buystop and Sellstop Orders" and it will instantly opens both pending orders above and below the channel with the default distance of 20 pips and 20 pips as our Take-profit while we define our Stop-loss as 20 pips, here you can put any number of pips you like depends on the market structure at the time to avoid getting hit and take you out of the market with loss.
All the default setting are defined as the System demands but you should feel free to use your own setting according to your trading styles. Check the Screenshots and see what I meant.
With this Utility EA, you can do the following (see the screenshot for the graphical picture of the parameter settings):
1. Use the Magic number to identify your orders opened by SqueezeMarket EA Utility , thereby it can work with other EAs on any MT4
2. You can move the On-chart Trade button panel to any position on the chart
3. You can choose to open just one of the Pending orders if you are sure of the direction and disable the other
4. You will define the Buy-stop and Sell-stop prices in the text field boxes provided for it
5. You can also define the distance of the distance between the upper and lower channels to avoid early trigger which may lead to loss
6. Then you can define your Take-profit and Stop-loss according to your preference or the market condition at the time or change them to zero
7. You can also set it to close the other pending order if one is being triggered
8. You can also choose to automatically remove the Utility from the chart immediately it opened the pending orders
9. You can also re-set and re-position the buttons of the On-Chart-Symbol/Time-frame Changer up or down, left or right
10. On the On-Chart buttons, you can do these:
a. You can both the pending orders at o a click of this first button "Open Buystop and Sellstop Orders"
b. Close Buystop order only
c. Close Sellstop order only
d. You can close Buy order only either with profit or loss
e. You can close Sell order only either with profit or loss
f. You can close all orders at once
With all these functions, I believe you will enjoy using this Utility EA. The rate of profit are more than its losses, you may not even incur any loss for a long time if you got the usage right. Take note of the Results in the screenshots and see that it makes consistent profits if done right.
However, practice using it with demo first and get it right before committing money.
Thanks for your interest, cheers and be full of green pips.