For Brazil WDO daytrade.
This Expert Advisor was developed to use a set of indicators. We spent more than 5000 hours during one year with development and tests.
It was created for Brazil WDO Mini Dólar to be used with day trade transactions for 1 Minute timeframe and looking for short exits with one point.
The strategy is to have good entrances, looking the set of indicators to confirm the entrances and high probability of gains. We use the average price to help the exits and to achieve the gains.
The program creates automatically the entrance and exit points using Buy Limit and Sell Limit for close the operations.
Parameter: Max orders - to create orders for Average Price.
Stop Loss - number of points after last average order to stop the operation with a Buy Stop or Sell Stop order.
1. The EA will identify the entrance point according the set of indicators and input one entrance, Buy or Sell, using the market price with 1 volume.
2. The program will input some Take Profit with more than 1 point to avoid negative exits, but soon the program will create an exit order and clear the TP.
In case of BUY the program will create a Sell Limit to exit this position with 1 point from the initial price.
In case of SELL the program will create a Buy Limit to exit this position with 1 point from the initial price.
3. The program will create more entrance levels to generate an Average Price from the entrance point. The maximum number of orders will be 13 orders.
In the strategy tester the program could create more than 13 orders to let us test and improve the new input entrances.
4. When the average orders had been executed the program will calculate the new Average Price and: delete the initial exit point (BL or SL) and input a new exit point (BL or SL) around 1 point according the calcs.
5. In case of some fast movement of price maybe the user will need to adjust the orders to close your operation moving the order to have a short exit or maybe include more exit volumes.
6. If the Take Profit of exit output (SL or BL) was executed the program will delete all pending orders automatically.
7. The program allows you to delete manually the orders to the average price and you can include manually new orders when you have an opened position;
8. When the Auto Trading is enabled you just can use the buttons Buy or Sell to open new position at market price. In this case is better to disable Auto Trading to Buy Limit or Sell Limit manually.
9. The program will create new orders until 5:30 PM to permit that these orders have enough time to be closed before the market end.
10. Just when running in the Strategy Tester the program will input new orders until 5:30 PM and close the positions 5:45 PM. In this way we could simulate Day Trade operations and close the positions day by day.
What you can do and how do it:
1. Put the Expert Advisor in your chart of the WDO symbol and set the timeframe for 1 Minute
2. You should start Auto Trading after the market begins.
Do not let Auto Trading always enabled!
3. You need to supervise the program to check if it put correct exit points in cases of high price volatility and put correct exits orders.
You could have some problem with your internet or broker connection and the program do not execute correctly the input, output or clean pending orders.
4. You need to supervise your risk management according your available warranty account and decide to continue or to stop the active transactions and assume some loss, to avoid your broker to execute your loss because you do not have enough warranty.
5. If you want, you can delete orders that was not executed to new average prices or change for other prices.
6. You can include new orders to have new average prices levels if you want. Just respect your risk management.
7. At the end of your operations please disable Auto Trade and check that all your orders were closed.
8. To input a manual order, you should Stop Auto Trading or use the buttons Buy and Sell to input it by Market Price. It´s not possible to open a Buy Limit or Sell Limit if you do not have and open transaction. The program will delete it automatically.
If you need some information, you have any suggestion or want to share your results please contact us by chat.
We hope to continue improving this EA and release new versions.