Inside bars EA MT5
This Expert Advisor (EA) opens orders when an outbreak from an inside bar formation occurs. It can for example be used with a strategy which you can read more about here.
The behavior of the EA can be explained in the following steps (please also see separate screenshot for visualization):
- Look for a trade when xx amount of inside bars has been reached.
- Exit when trailing stop or take profit has been hit.
- The formations with sell/buy lines will be drawn on the chart as well as the first ATR take profit level.
- Time and spread filters.
- Possibility for take profit and stop loss based on the ATR indicator or use a risk/reward ratio (based on stop loss).
- Possibility to select between adding a fixed lot or let the system set the lot size according to risk percentage.
- Possibility to trade in a reverse way (buy when sell, sell when buy).
Please make sure that you first test the EA on a demo account and let at least 10 trades be done. Before going live please also test your setup in the strategy tester.
Please be aware that I do not provide with any trading advice, signals or .set (preset) files. I will only be able to answer questions regarding the meaning of the input parameters, in case something should be unclear in the product's blog.
The EA cannot be used with netting account types.