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Serpent revival

The Expert Advisor is based on breakthrough of support/resistance levels. This is one of the few robots that works using the indicators only.


General

  • The EA trades support/resistance level breakthroughs.
  • It uses protective stop orders at all times;
  • The robot can be launched with the default parameters. No optimization is required;
  • Initially, the robot has not been optimized, which means that the strategy actually works.


Parameters

  • AStoploss - a drop down list of available functions for placing stop orders:
    • SL_Pips - in points;
    • SL_Candles - by candles;
    • SL_Parabolic - using Parabolic SAR;
    • SL_Moving - using Moving Average;
    • SL_Bollinger - using Bollinger Bands.
  • Period_Candles - EA operation period;
  • MM - automated money management;
  • Lot - lot size if the auto money management is disabled;
  • RiskPercent - auto money management risk;
  • Distans - indent from support/resistance levels for setting pending orders;
  • TakeProfit - distance to take profit in points;
  • ModifyTP - if enabled, take profit is moved away from the price, while a stop order follows it. This allows the EA to safely increase profit. However, it is not recommended to use during a strong divergence;
  • StopLoss - distance to a stop order in points;
  • Slippage - maximum deviation from the requested price;
  • Spread - maximum allowed spread;
  • Trailing - enable order trailing block;
  • TrailingStop - enable trailing;
  • TrailStart - distance from the order, where trailing stop orders is enabled;
  • StepTrall - trailing step;
  • StopLevel - move to a breakeven;
  • NoLoss - distance from an order, at which a stop order is moved to breakeven (if StopLevel = true);
  • MinProfitNoLoss - minimum profit to move an order to breakeven;
  • UseTime - trading by time (server time is used);
  • BeginTime - trading start time;
  • EndTime - trading end time;
  • Magic - EA's stamp (identifier);
  • Remove - delete pending orders by an opposite signal generated by the indicator block (one or several additional indicators should be enabled).

The remaining settings belong to additional indicators that can be enabled both individually or all at once. These indicators are not used by default.

  • UseBands - enable Bollinger Bands;
  • BandsPeriod - period;
  • BandsDeviation - deviation;
  • BandsShift - shift;
  • BandsPrice - price used to plot the indicator (Close, Open, Average, etc.);
  • UseStochastic - enable Stochastic;
  • StochK - %К period;
  • StochD - %D period;
  • StochSlowing - slowing;
  • StochMethod - method;
  • StochPrice - price used to plot the indicator (Close, Open, Average, etc.).

When changing certain settings, make sure to change the parameters affected by such settings as well. Suppose that you disable the TrailingStop parameter. If everything else is left unchanged, the orders will be moved to breakeven without trailing. Since ModifyTP is active, take profit is moved away from the price counting on the fact that a stop order follows the price at all times, while there is actually no order trailing except for moving to breakeven. Therefore, the ModifyTP parameter should be disabled as well.

If you do not want to analyze the EA operation logics, use the default settings.


Requirements

  • Instant order execution - ECN;
  • Trouble-free connection to the server - VPS;
  • Currency pair EURUSD (with any prefixes, like EURUSD.f etc.);
  • Chart timeframe - H4.

Attention: Make sure to comply with the currency pair and timeframe requirements.

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