Power Levels EA
- Experts
- Version: 2.0
- Activations: 10
Power Levels is a fully automated EA, with option for semi-automated trading. It supports two modes : automatic and fully-automatic.Both modes need horizontal lines on chart to trade with. The model is basic, the horizontal lines are picked up as price levels, and as soon as the price breaches any level( in any direction ).
The process
- A horizontal line is drawn on chart
- The line is translated as price level
- Once the price starts interacting with the level - up or down crosses , trades are being opened
- When used in tester and test mode is enabled, and the mode is fully - automated , a special
Features
- 4/5 Digit Broker Adapted
- Money Management
- Active Break even
- Balanced trading algorithm
- Trace increment system
- Two full-auto modes - fixed grid and daily pivot points
- Trade Pad to manage the EA
- Test mode, to make tests faster. Whenever you use strategy tester, you can enable is if the mode is fully automatic, so save time from test- they will run much faster
Example A. - There two lines drawn above the current price level. The price breaches both, but when breaching the upper line, when order is opened, the stop loss of the lower buy is taken to the level of the upper stop loss/ break even. This operation of modifying stops is made each time an order is opened in the same direction or a Break Even is executed. Therefor a beautiful cascade reaction is built up.
- Tolerance for opening trades
- Can trade with metals/ indices/ oil etc.
Parameters
- TakeProfit in pips - The distance from the order open price measured in pips
We recommend you use TakeProfit in such values , that allow you to use and benefit from multiple level cross.
- Test Mode
- StopLoss in pips - The distance from the order open price measured in pips
- AfterLine Tolerance - pips - Tolerance from the horizontal line to open trade
We recommend the usage of this tolerance input, this way false signals are filtered. A variety of combinations for breaking out through the lines have been implemented, so that no real signals get trapped and stopped. Important! Have in mind our advice to adapt it for different time frames and/or distances between lines.
- Breakeven Trigger pips - The distance in pips that the price should go up/down to trigger the break even
- Breakeven size - The position of the new stop loss
- Enable Incremental trail
This input enables stop loss adaptation - when a new order of the same type(buy/sell) is opened, the previous`s order stop loss is lifted/dropped to the level of the newest order`s stop loss. This operation is executed each time order is opened in the same direction or break even is triggered.
- Slippage - Slippage tolerance parameter
- Magic Number - The unique number for order opened by the "Power Levels" software
- AutoLot
Enables the dynamic lot calculation. This means that all base(not incremented) lot size are going to be equal the risk percentage of the Account free margin.
- Risk percentage - The risk taken for opening a new order
- Initial/Incremental lotsize
This parameter is used in two cases : Both if the auto lot is not enabled, then is used as base lot size,and as incremental lot size - if there is more than one order per type.
Have Fun :)
