EACandleFollowDSTTime
- Experts
- Version: 1.0
- Activations: 10
Explanation of an Expert Advisor (EA) used for gold trading:
1. Buy side condition: Once the EA is activated, after one candlestick, if the first candlestick is a gain, the next candlestick will open a buy position. The ADX indicator must be greater than the specified value to open a position. If the ADX indicator is less than the specified value, the position will not be opened.
2. After that, set the take profit point and stop loss point according to the client's discretion.
3. If the next candlestick does not reach the take profit or stop loss points, the position will be closed immediately by the next candlestick set to the take profit and stop loss points.
4. Position opening depends on the InpCooldownBars setting, which determines how many candlesticks are needed before opening a position. However, the ADX indicator must be greater than the specified value to open a position. If the ADX indicator is less than the specified value, the position will not be opened.
5. If the take profit point is reached, open the position on the specified candlestick determined by the InpCooldownBars value. The client can specify how many candlesticks are needed to open the position after that.
6. If the position is opened and the stop loss point is reached, the InpMaxConsecutiveSL value can be set to determine how many more candlesticks are needed to trigger the stop loss, as desired by the client. 6. Trading will then stop.
7. If the next candlestick does not reach the set InpCooldownBars value, the buy position will be automatically exited.
8. For the next position, the candlestick must pass the set InpCooldownBars value before opening a new position according to the conditions in point 1.
9. For the sell side, once the EA is activated and one candlestick passes, if the first candlestick goes down, the next candlestick will open a sell position. The ADX indicator value must be greater than the set value to open the position. If the ADX indicator value is less than the set value, the position will not be opened.
10. After that, set the take profit point and stop loss point that the client deems appropriate.
11. If the next candlestick does not reach the take profit point and stop loss point, the position will be closed immediately in the next candlestick.
12. Opening a position depends on the InpCooldownBars value, which specifies how many candlesticks must pass before opening a position. However, the ADX indicator must be greater than the set value to open a position. If the ADX indicator value is less than the set value, the position will not be opened.
13. If the take profit point is reached, open the position in the candlestick specified by the InpCooldownBars value. 14. If a position is opened and reaches the stop-loss point, the InpMaxConsecutiveSL value can be set to determine how many more candlesticks are needed to trigger the stop-loss, as desired by the client.
15. If the stop-loss point is not reached, the next candlestick will automatically exit the sell position, but the take-profit and stop-loss values will remain.
16. For the next position, the candlestick must pass the set InpCooldownBars value before opening a new position according to the conditions in point 9.
Note: If the candlestick lags behind the ADX indicator below the set value, no position will be opened. A position will only be opened when the ADX indicator is higher than the set value. This will depend on whether the previous candlestick went up (buy) or down (sell). If the InpMaxSpreadPoints value exceeds the set value, no position will be opened. The EA can be set to trade during New York Time, or trade according to a custom time period.
