The strategy is based on the idea that after n bullish/bearish candlesticks the price is likely to reverse. For example: after n bearish candlesticks in a row, the EA opens a Buy order, after n bullish candlesticks open Sell.
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The EA analyzes new bar open prices, so testing/optimization results are very close to real trading. The EA applies dynamic order placement levels, stop loss, take profit and trailing stop levels invisible for brokers. The values of the levels can be calculated in pips, money, percent of balance or ATR based volatility.
The EA is designed for intraday trading with all major currency pairs on any timeframe. Depending on settings, the EA can be configured for any trading style, such as scalping, averaging, pyramiding and hedging, which makes it not just a trading robot, but a multifunctional flexible designer.
Each block responsible for management of a particular function can be customized separately and operate as a single unit. The EA can simultaneously manage and close positions in different directions (both single orders and order baskets) interact with positions opened manually or by another expert (start managing deals, distinguished by magic number). Since the EA works at the bar opening, it can be easily and quickly optimized.
- Before using on a live account, test the EA with minimal risk on a cent account;
- Use VPS or hosting server with minimal network latency to the broker's server;
- Low spreads + low commission + high quality execution are important when choosing a broker to trade;
- Use the EA on highly liquid currency pairs, such as EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, NZDUSD;
- Minimum deposit - 1000 currency units per 0.01 lots;
- Timeframe H1.
- NumberOfBars - the number of bullish/bearish bars in a row;
- StartTime, StopTime - time for opening orders, not used if 00:00;
- LotsFor1000 - initial lot size per 1000 units of base currency;
- ATRPeriod - period for calculating the average daily volatility, in days.
- TradeDirection - trading method: trade in one or both directions simultaneously.
- OrderOpenMode - calculation of step for opening orders: in pips, in the deposit currency, as a percentage of the balance or as a percentage of ATR.
- GridStep, GridStop - position averaging step, not used if 0;
- PyramidStep, PyramidStop - position increase step, not used if 0;
- HedgingStep, HedgingStop - position hedging step, not used if 0;
- CountingOrders - order counting: each series separately or the total number of orders in different directions.
- GrowingVolume - scale in to positions by the amount of orders or by lot increment.
- IncreasingLot, DecreasingLot - increase/decrease the lot by the specified percentage, not used if -0.
- StartIncrease, StartDecrease - the position to start increasing/decreasing the lot.
- MaxLotFor1000 - the maximum lot per 1000 units of base currency.
- LevelsMethod - setting take profit/stop loss: separately for short and long positions or for the entire basket of orders.
- LevelsMode - calculation of take profit/stop loss: in pips, in the deposit currency, as a percentage of the balance or as a percentage of ATR.
- StopLoss, TakeProfit - stop loss and take profit, not used if 0;
- TrailingMethod - trailing stop method: separately for short and long positions or for the entire basket of orders.
- TrailingMode - calculation of trailing stop: in pips, in the deposit currency, as a percentage of the balance or as a percentage of ATR.
- TrailingStart - minimum profit to enable trailing, not used if 0;
- TrailingStop, TrailingStep - trailing stop and trailing step.
- MagicNumber - magic number, the EA manages all positions opened manually or by another expert if set to -1.
- TradeComment - comment to trades.