SP Algorithmic Method
This Expert only runs on the 5min Chart.
Opens 6 pending trades with StopLoss and TP set at a certain time (default 6am GMT+2) of the day, Monday to Thursday.
Friday is excluded as the certainty that the Algorithm works on a Friday is very slim, but it can be overwritten in the settings so it run on a Friday but we won't suggest it.
3 of the trades are BUY and the other 3 are SELL.
When the one direction triggers the other direction gets removed.
If the TP triggers on a trade and the other trades are still pending they get removed.
When all TP triggered we are done for the day.
Currently works the best on EUR/USD but also works on some of the other currencies.
- Set all TP to be the same as the first transaction in a particular direction.
- Set StopLoss to percentage of Equity when 3rd trade is triggered. To minimise losses.
- Certain date when Algorithm does sometime not work to avoid losses. This can be switched off.
- The hour in GMT+2 time the Algorithm must run every day.
- Percentage used to calculate the lot size of the 6 orders which will be create at the above time.
- The next Tuesday which GP CPI announcement will be, this is a no trade day the Tuesday and Monday before GB CPI. This date automatically shift to the next month if its past the date.
- Flag to override the GB CPI no trade day and trade on the Tuesday and Monday of this date.
- Random date we discovered which we must not trade on Monday and Tuesday, this may change if we discover its no longer needed.
- Flag to override setting 5 and trade on that Tuesday and Monday.
- Factor used to calculate the StopLoss when the 6 orders opens.
- StopLoss percentage of Equity when 3 trades have triggered.
- Flag to switch of setting 8 above.
- Override the no Friday trading and trade on Fridays.
- Flag to make all TP the same as the first trade.