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The robot places limit and stop orders at key price levels and closes orders , or the basket of orders when the profit target is reached .If the profit target is not reached by the first opened order it makes use of the power of accumulation , it accumulates orders untill the profit target is reached .
Profit Factor is calculated using lot size , for 0.01 lots the profit should be 1$ if the Profit Factor is set to 1, 10$ for 0.1 lots ,100$ for 1 lot and so on .Profit Factor and Loss Factor are correlated with lot size .
The EA also has a built in spread filter when closing orders , in order to avoid widening spreads at midnight and a "Maximum Spread allowed" function when closing opened orders to avoid closing orders in widening spreads or fast movements in price , reducing the risk of closing orders in a loss instead of a profit .
The best result is achieved on the EUR/USD pair on timeframe H1 . Lower or higher timeframes may lead to higher drawdown .
A low latency broker is recommended and a relatively fast computer or VPS due to possible fast changes in market prices .
Recommended Pair EUR/USD ;
Timeframe H1 ;
Risk - calculated correctly for accounts in USD ;
Profit Factor - calculated correctly for accounts in USD ;
Level - upper and lower levels from the last "X" candles in the chart ;
MaxSpread - Maximum Spread allowed when closing orders ;
Parameter description :
Lots-manual lot size
Auto_Lot-if set to true ,
then manual lot size is not used ,
but "Risk" parameter is used , if Risk is set
to 1 on a 1000 $ account , then 0.01 lot size
will be the computed lot size
KeepHighLot- if AutoLot is set to true and drawdown starts to increase
then the computed lot will not go lower than the previous used lot size
LowOffSet-if different from zero, then the lowest trade level is not used , but it
is offset by the number of input points , it can take positive or negative
values , above or bellow the lowest price calculated
HighOffSet- same as the lowoffset but the reference is the highest price
Highest and lowest price are computed from the "Level" parameter which is
preset to 50 ( 50 candles on chart)
Stochastic_Period- stochastic indicator is used to reset trade levels , when stochastic
passes above 50 , the lowest trade level is changed , when it
passes bellow 50 , the highest trade level is changed
Profit_Factor-is dependent on lot size , if it is set to 1 and 0.01 lot size is
used then closed profit will be 1$ on an USD account ,or 1 EUR on an
EUR account , the EA is made for USD accounts , but works on any account
the same if profit factor is ajusted to currency type .
Loss_Factor - same as profit factor , dependent on lot size
Profit_On_Bar- closes the orders only at the end of the bar if it is set to true ,
it may increase profit or miss profit .
Magic - expert ID , every EA has an ID number so it can identify its own orders .
Use_Safety_Stop - if se to true , it will close all orders if drawdown will increase
too much ( defined by safety stop percent parameter)
Max Spread - maximum spread allowed when closing orders - not when opening , but when
closing ( drawdown may increase to more than 50 % if high risk is used
and at midnight when large spreads occure the orders might be closed in loss, so
in order to avoid that and hoping the price will return and drawdown
goes lower than 50% , the orders will not be closed only after the
spread comes back under the limit ).