Volcano is an Expert Advisor based on a breakout strategy. It uses the important support and resistance in addition to classic patterns to determine the exit points especially when the price is consolidated between them.
It has a very tight stop loss with a special breakeven and trailing system to decrease the drawdown as much as possible.
The best performance is obtained for EURUSD H1 and GBPUSD H1, so other symbols or timeframes are not allowed. Also, you can only run it on brokers with a zero stop level.
- Lot - amount of fixed lot when MoneyManagement is false.
- Slip - maximum allowed slippage.
- FirstTrade - trade scalping immediately after breaking the support or resistance.
- SecondTrade - trade when the support or resistance is broken and the price goes further.
- BreakEvenOn - move the stop loss to breakeven.
- BreakEven - stop loss is moved to breakeven at this level regarding to the opening price.
- TrailingOn - move the stop loss to protect profit.
- MagicNumber - EA magic number.
- Minimum_Equity - amount of equity, for which trade is allowed.
- Risk - percent of margin risk to calculate a lot size when MoneyManagement is true.
- MoneyManagement - calculate the lot size automatically by using the margin and the determined risk.
- MaximumLot - maximum allowed lot when MoneyManagement is true and the calculated lot is equal or more than this value.
- MinimumLot - minimum allowed lot when MoneyManagement is true and the calculated lot is equal or less than this value.
- StopLoss1 - stop loss of the first orders other than three pips (true - Stop Loss is 3 pips plus StopLoss1).
- StopLoss2 - stop loss of the second orders other than three pips (true - Stop Loss is 3 pips plus StopLoss2).
- Displacement - second order activation from the first order.
- alpha - trailing parameter.
- Remove_Outdated_Orders - remove pending orders lasting more than 24 hours.
- VolatilityFilter - cancel all pending orders when it is true and the volatility is less than VolMin.
- VolMin - minimum volatility allowed for trading.
- ATRPeriod - ATR period to calculate the volatility.