PZ Day Trading EA MT5
This EA trades untested breakouts of variable periods when the market is orderly and behaving in a predictable fashion. It is oriented towards short-term trading and relies on the fact that volatility increases by orders of magnitude when the market reaches previously untested price levels, allowing for a quick profit or a small loss based on a time expiration. The EA performs well in orderly markets and suffers in very small timeframes or thinly traded instruments.
- Stop-loss and take-profit levels are automatically set
- No averaging, no grid, no hedging and no martingale
- Orders are closed on friday night
- NFA-FIFO compliant
- EURUSD (D1 / H12 / H8 / H6 / H4 / H3 / H2 / H1)
- GBPUSD (D1 / H12 / H8 / H6 / H4 / H3 / H2)
- USDJPY (D1 / H12 / H8 / H6 / H4 / H3 / H2)
- XAUUSD (D1 / H12 / H8 / H6 / H4)
- AUDUSD (D1 / H12 / H8)
- USDCAD (D1 / H12 / H8)
- USDCHF (D1)
- NZDUSD (D1)
- Backtest in M1 HLOC mode.
- Don't trade any other EA in the same symbol.
- Be patient, the EA only trades when it finds a suitable scenario.
- Try to never unload the EA to assure the atomicity of the strategy.
- There is no need to set a different Magic Number to trade different symbols.
- Trade from a VPS or leave your trading computer turned on 24/5.
- High spreads will decrease the trading frequency of the EA.
- The EA trades using pending orders at bar closing.
- The EA will not trade if a weekly or daily gap has not been closed.
- The EA sets appropriate stop-loss and take-profit orders based on market levels.
- The EA will by default close all pending orders on friday night and end the week flat.
- Trading Direction: Choose if you want to buy, sell or both.
- Trading Behavior:
- Most Breakouts: The EA will trade most breakouts it detects, even outside a predictable range.
- Detected Ranges: The EA will trade only if it detects a trading range. All trades will have a suitable take-profit.
- Confirmed Ranges: The EA will trade only after a trading range has been confirmed. Less trading frequency but more quality.
- Gap Protection: Enable to forbid the EA from trading until the weekly or daily gap is closed
- Lookback: Amount of past bars to iterate looking for suitable ranges. A higher value will produce more, yes less reliable trades.
- Entry Range: Minimum range of bars to be broken to take a trade. A lower value will produce more, yet less reliable trades.
- Exit Range: Minimum amount of consolidated bars needed to find a suitable stop-loss. A lower value will produce more trades.
- Expiration: The expiration time for losing trades.
- Filter: Amount of timeframes the EA looks up to confirm trading levels. A higher value will produce less, yet more reliable trades.
- Break-even: Profit in pips at which the EA moves the
stop-loss above/below the open price for the first time. Must have value.
- Break-even Behavior: Upon breakeven, the SL can be moved to the open price, or secure part of the profits.
- Trailing Stop: Trailing stop expressed as % of current trade profit.
- Trailing Step: Minimum increase in pips for the trailing stop.
- Trade Asian Session: Enable to trade during asian session.
- Trade European Session: Enable to trade during europe session.
- Trade American Session: Enable to trade during american session.
- Trade on Monday, Tuesday, Wednesday, Thursday, Friday and Sunday.
- Close orders on Friday Night: Enable to close orders on Friday night.
- Money Management Behavior: Choose if the EA must trade a manual lot or auto-calculate the lot-size.
- Risk Allocation: Percent of free margin risked on each trade, if money management is automated.
- Manual Lot Size: Size of each trade, if money management is disabled.
- NFA/FIFO Compliant: Enable to trade with US Brokers or netting accounts.
- Magic Number: The EA uses the magic number to identify its trades.
- Custom Comment: Enter your custom comment for trades.
- Slippage: Maximum slippage allowed for trades. Do not set below 10 points or it is ignored by the broker.
Use the helpdesk for questions or timely support. Write an email to: firstname.lastname@example.org
Support and questions
Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.