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Trap for Price

Trap for Price will perfectly complement your arsenal of trading strategies allowing you to trade Forex more efficiently.

You probably noticed that the market is often marked by unexpected price impulses occurring for no visible technical or fundamental reason. Trap for Price detects such movements thanks to the thorough approach to pending order modification (Stop orders are set by default). They are not simply modified with a predetermined interval but respond precisely to a price movement acceleration. Trap for Price tracks the market movement holding the trap ready. The EA efficiently trades on news as well (if your broker does not expand spread greatly) without any additional settings. Traders using Limit orders on a quiet market can set the OrdersPendingType parameter to the necessary value.

Launch the EA on one or several charts of any currency pairs, and it will catch all sharp price impulses till you focus on other strategies or simply do other things besides trading. Trap for Price detects a favorable moment and opens a pair of pending orders that follow the price waiting for a sharp price impulse. After the deal is handled, the cycle continues.

Sensitivity to impulses is highly customizable.

Deals are always protected by stop losses.

The default settings are optimized by default for EURUSD during high volatility periods. When using the EA on a quiet EURUSD market, as well as before launching it on other symbols, a separate optimization is recommended.

Minimum spreads (including when tested in the tester) and commissions are advisable.

It is important to work with trusted brokers having fast and accurate order execution and actual quotes.

If there is a trend in the market and you want to follow it, set Buy_Orders or Sell_Orders in the settings.

Attention: testing with the default settings takes a long time due to frequent modifications of pending orders. You can accelerate the process by increasing the time set by ModTime parameter (not more than 60 seconds are recommended), but then you may not see objective results, so please be patient.

Attention! Make sure to disable auto-trading and remove all pending orders before weekends to avoid false positives as a result of gaps and spread expansion.


Inputs

  • Autotrade (true, false) - enable/disable auto-trading;
  • ModTime, sec (0 - every tick) - pending order modification interval; if 0, they are modified with each tick;
  • Time 1, sec - first time limit for an average price calculation (response time for a price movement; the higher the value, the slower the movement may be to touch a pending order);
  • Time 2, sec - second time limit for an average price calculation (the higher the difference between the first and the second limits, the less sensitive the pending orders to price changes during modification);
  • OrdersType - select trading direction (for example, in case of an apparent trend);
  • OrdersPendingType - select a pending order type;
  • MaximumTrades - maximum number of open deals;
  • AllowableDistance - minimum allowed distance from the current price to one of the orders before opening (should always be less than Distance);
  • Distance - distance for modification of pending orders from the average price within Time1 and Time2;
  • Risk Percent - dynamic volume calculation depending on the balance;
  • Lot - static volume;
  • TakeProfit;
  • StopLoss;
  • Max Spread;
  • MagicNumber - deal ID;
  • Length of Breakeven/Trailing (0-Off) - breakeven/trailing stop length;
  • Breakeven - breakeven value;
  • TrailingStep (0-TrailingOff) - breakeven step.

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