MarketFollower

This Expert Advisor trades only following the market directions. So if the market goes north buy positions will be added, and if the market goes south sell positions will be added to a specific number of pips from the last entry. If a market range is set the expert will not open another position but wait for the breakout. The open positions are managed until they are closed with a profit. You can limit the number of opened positions. Only one position can be opened on a bar.

A useful tool when the market is in the trend phase (bull or bear).

Requirements

• Minimal recommended deposit: $1000
• Account type: any
• Currency pairs: any
• Timeframe: any (higher timeframes - stable results)

Settings

• MagicNumber - to identify EA orders
• clots - number of lots that EA will start first transaction (0 - auto lots)
• lotstep - multiplier of the next open position (for example, 0.6 is 60% from last volume)
• step - the distance in pips for the next position in the same direction (for example, 500 is 50 pips)
• maxorders - maximum number of opened positions (buy and sell)
• tprofit - profit to close all opened positions (for example, 5 is 5 units of the account currency)
• StopOut - drawdown level for the EA to close all opened positions and shutdown (for example, 0.3 is 30% from balance)
• Slippage - accepted slippage (for example, 100 is 10 pips)

Custom settings for each instrument will increase profitability. (create custom settings for each instrument and test it for last 6 months)