BlackPearl is built to be traded on pairs with very low spread such as EURUSD and USDJPY. The strategy is based on pip velocity where it measures the amount of pips covered within the last 10 seconds. Once it has detected a reasonable pip velocity it will begin trading in the direction of the trend. Each trade is protected with a tight server side stop to prevent large losses. The strategy has no limit to the number of trades it can have open at any given time however it will not open new trades until all the other trades have a stop loss above break even. Every trade uses a tight trailing stop to ensure profits are locked in.
- TradeComment = "BlackPearl"; A string value which is set on every trade made by the expert advisor.
- MarginUsage = 0.015; The amount of equity used to calculate the lot size for trading. Proper values would range from 0.001 to 0.050. For example, an account of size 10000 USD that uses 2.5 USD to open 0.01 lots ( ie 500 leverage ) and MarginUsage set to 0.01 would enable the expert advisor to trade 10000 * 0.01 / 2.5 = 0.4 lots per trade. This setting ultimately controls the money management aspect of the strategy.
- MaxSpread = 0.7; A double value used to limit opening new positions when the market spread is below the set value. Proper values for this input are 0.1 to 2.0.
- TimeChange = 10; Amount of time in seconds used to calculate the pip velocity. The market movements are tracked over this short period constantly and thereby calculating the pip velocity from this setting. Proper values are 1 - 30.
- TickSample = 100; Number of ticks to sample for the pip velocity. Proper values are 10 - 500;
- TickRatio = 0.7; The ratio at which a losing trade will be closed. Proper values are 0.5 - 0.9
- PipVelocity = 9; The pip velocity measured to open new positions. Proper values are 1 - 30
- TrailPips = 1; Number of pips to initiate a trailing stop loss. Proper values are 0.5 - 10.0
- TrailDelta = 0.5; Minimum amount of change in pips for the trailing to stop to be adjusted. Proper values are 0.1 - 1.0
- StopLoss = 10; Hard stop measured as pips set on each trade placed by the expert advisor. Proper values are 5 - 50