Automated multi-currency Pender Expert Advisor.
Trading is performed using pending orders on important price levels, that are detected by advanced adaptive algorithm A.P.L.D.
The algorithm allows to detect dynamic levels of support and resistance
without any indicators. Only price behavior is being used, that gives
the opportunity to respond quickly to changes of market conditions.
The A.P.L.D. algorithm provides 3 strategies of important price levels detection. They can be used either together or separately.
Lite version of Pender EA is also available.
Virtual StopLoss is always set.
Adaptive TrailingStop for accounts with floating spread.
"Dangerous" strategies are not used.
Trading can be performed either with fixed lot or with automatic money-management system.To evaluate Pender EA's trading and to estimate my other products you can follow this link https://www.mql5.com/en/signals/author/alcad83
Broker and deposit
Any 5-digit broker with low spreads and fast execution is suitable for trading.
The minimum deposit - $100.
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.
The used timeframe is H1.
Terminal - MT4.
- AutoLot - can be set to true or false. If true, the EA selects the lot size for trading depending on the balance value.
- Lots - lot size is set by a user, if the value of AutoLot is false.
- Risk - parameter for automatic lot calculation, if AutoLot value is true.
- AutoRiskReduction - can be set to true or false. If true, it provides reduction of possible risks in case of simultaneous using of all three strategies on different charts - setup Option2 in video-guide.
- DD - the maximum allowable drawdown, reaching which closes all positions.
- Strategy1 - can be set to true or false. If true, the EA used first strategy.
- Strategy2 - can be set to true or false. If true, the EA uses second strategy.
- Strategy3 - can be set to true or false. If true, the EA uses third 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.
- CommissionFor1Lot - broker commission for 1 lot, in the deposit currency. If your account does not have a commission, set to "0".
- OpenMode - can be set to true or false. If true, pending orders will be set only on the beginning of new bar.
- 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. Must have different values for every chart.
- 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.
Different options of settings can be found in video-guide.
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.
I will be happy to answer any questions you may have.
Have a successful trading.
I will be thankful for your positive reviews and ratings - it inspires me for further improvements of my Expert Advisors.
2. Automatic lot-size calculation for deposits, nominated not in US dollars, was corrected.
3. Automatic lot-size calculation for deposits with small account leverage was corrected.
2. New video with setup options was published.
New parameter CommissionFor1Lot was added for comfortable tests in different market conditions.
2. New default settings.
3. Changes in description.
2. Code was optimized.
3. Unnecessary parameters were removed.
Default parameters were changed.
2. Added the "TurboMode" parameter , which increases the number of orders.
2. Improved TrailingStop.
New strategy and new parameters were added.
Virtual TrailingStop was added.