Reliable Trader uses Bill Williams' Fractal indicator on various timeframes. The indicator is used to enter the market via pending orders. The EA benefits from the market inertia making it impossible for the price to "reduce speed" or reverse sharply. Orders are closed when a bar Close price crosses the Simple Moving Average using additional factors indicating the possible end of a trend.
The EA has been designed for long-term trading on EURUSD, where testing the EA on the last five years shows a steady deposit growth. You can also use it on GBPUSD and USDJPY. Other pairs are not recommended.
The EA should be applied to M5 chart. Auto trading should be allowed.
- Number of lots - number of deal lots (specified when applying the EA to M5).
- Added the additional "false" entry filtration criteria by the lever rule.
- Added floating Stop Loss for pending orders.
Improved compatibility for use on multiple instruments.