Line Trader Pro

User Manual: LineTrader PRO V6.1

General Overview

LineTrader PRO is an automated trading Expert Advisor (EA) that executes trades based on visual objects you draw on your chart (Trendlines or Horizontal Lines). By entering specific "commands" into the Description field of these objects, the EA monitors price action in real-time. When the price touches a line or fulfills specific logic conditions, the EA will immediately open or close positions. It includes advanced management for Take Profit (TP) and Stop Loss (SL) at both a global and individual trade level.

Key Features & Functional Logic

1. Fakeout Support (False Breakout Trading)

This feature allows you to trade market reversals after a failed breakout.

• Commands: BOF (Buy on Fakeout) and SOF (Sell on Fakeout).

• Operational Logic:

  • BOF: The price must first drop below the line by a set distance (InpFakeoutPoints) to change the line status to [READY]. Once the price reverses and crosses back above the line, a Buy order is triggered.

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  • SOF: The price must first rise above the line by the set distance. Once the price reverses and crosses back below the line, a Sell order is triggered.

• Setting: Define the required breach distance in the InpFakeoutPoints parameter (measured in Points).

2. Combined Commands

You can instruct the EA to "clear old positions" and "open a new trade" simultaneously using a single line:

• CAO (Close All Orders): Closes all positions for the current symbol and triggers a new trade (e.g., CAO BOT or CAO BOF).

• CAS (Close All Sell): Closes only Sell positions and triggers a new Buy trade (e.g., CAS BOT or CAS BOF).

• CAB (Close All Buy): Closes only Buy positions and triggers a new Sell trade (e.g., CAB SOT or CAB SOF).

3. Individual TP and SL per Trade

To provide flexibility beyond global account settings, you can specify targets directly on the line:

• Format: BOT TP:1000 SL:500.

• Advantage: The EA will prioritize these values for that specific trade, ensuring they are not overwritten by default global settings.

4. Exit on Better Price (Optional)

This feature manages consecutive trades in the same direction:

• Logic: If a new trade is triggered in the same direction but at a "better" price (e.g., a Buy at a lower price than the current one), the EA will close the existing inferior position and keep the new one.

• Safety Filter: If the new trigger price is "worse" than the existing one (e.g., trying to Buy higher than a current Buy), the trade is skipped, and the line is marked as DISABLED to prevent inefficient entries.

• Setting: Enable/Disable this via the InpExitOnBetterPrice parameter.

5. Negative Candle Closure Exit

The EA performs a safety check at the close of every candle:

• Logic: If a Buy position is in a loss (Current Price < Open Price) or a Sell position is in a loss (Current Price > Open Price) when the candle closes, the EA will exit the trade immediately.

• Bug Fix: This logic has been fully synchronized for both SOT and BOT commands to ensure consistent exit behavior.

6. Line Status Management

• EXECUTED: When a line successfully triggers an action, it turns Gray and is labeled EXECUTED.

• DISABLED: If a price touch occurs but conditions are not met (e.g., "Worse Price" logic), the line is labeled DISABLED and turns Gray to notify the user and prevent repetitive triggers.

Input Parameters