LoLFx is a scalper Expert Advisor which uses the strategy of support and resistance lines breakthrough. Fully automated. Designed for trading EURUSD, a low spread broker is preferred.
The EA independently detects support and resistance lines and places pending orders. When the market changes it removes old pending orders and places new ones.
Just in case, orders are placed with preset stops to avoid significant losses in emergency situations, for example in case of Internet disconnection.
Virtual hosting is preferred. Thirty minutes timeframe is recommended.
Settings and Inputs
- Period — timeframe (in minutes), e.g. 30 - M30, 60 - H1.
- Kolbar — the number of bars to use for finding the support and resistance line.
- Kolbarshift — the number of bars to shift from the zero bar.
- First Virtual Take Profit — first take profit which closes a part of the order volume in case of profit.
- Second Virtual Take Profit — second take profit which closes the whole order in case of profit.
- Virtual Stop Loss — stop loss in points, the order closes if the price passes this number of points below the open price.
- Kof — the ratio ro close part if the volume by first take profit
- Comment — order comment.
- The magic number.
Added ability to close orders after a certain time.
Added ability to configure maximum spread and slippage.