The name of the theory that is the fundament of this  EA is "Auction Market Value Theory & Analytics"

in the attached image you can see, in the period jan 2017- jun 2018 the total trades, and for each trade is measurder the time in hours between the close and the previous close.

Many positions are open at the same time, and positions can last days or weeks. 

I'd like to explain a bit about the Auction Market Value Theory & Analytics EA, using an example of some days ago from my live account.

I attach below a screenshot from my metatrader, where you can see 4 open positions. one of them is AUDUSD, buy at 0.76147.

1) the order was opened after such level was retested. As you can see in the picture, the level around 0.76147 was tested already in the past 15 days, and was tested in the mid-term at least other 4 times. It seems a quite important resistance.
2) the order was opened with a stop loss (0.75419) and a Take Profit (0.77603). The stop loss was set at the lower level of value area of the last 3 days Overlay, and the Take profit is just 2 times the stop loss (depending of the setting in the input parameters).
3) the blue line is the trailing level, again this depends on the settings in the input parameters. If the price goes beyond this line AND it holds (e.g. there will be bracketing in the 3 days overlay), a trailing stop will be set. Or, if the price goes beyond this line and Activity (ATR, Volume and other parameters) will be increasing, an automatic orderclose will be sent.
4) if after 15 days the price will be between the order open level and the trailing level (e.g. a "not really convincing trend"), an automatic order close will be sent.

Summarizing, this AUDUSD order can be closed in 5 different ways:

1) Stop loss
2) Take Profit
3) Trailing stop
4) Order close due to high activity
5) Order close due to lateral wandering

The average time from opening to close is usually several days or weeks

in order to check how this EA performs, this is my live account:

https://www.mql5.com/en/signals/441615

I had a notice from my broker that from Aug 1st 2018 they will change forex pair symbols, depending on the status of the trader.

For professional traders, they will append a ".p" at the end of the string, while for non professional ones they will append a ".r".

So, for instance, "EURUSD" will not be available anymore, but a trader will see "EURUSD.p" or "EURUSD.r".

This change affects ALL the multicurrency EAs, like this one, because in order to trade on different pairs they need to specify in the mql4 code the  symbol of the pair.

After Aug 1st this EA will not work with brokers that change the symbol name, so please check with your broker.

In the meanwhile, I will work on a new version able to adapt to symbol name changes.