This EA operates when there is a huge candle formation with a body range of 50 pips or more. The edge about this strategy is that so big candle formations are symptom of trends and directional movements. The EA place the order just at the open of the next candle with a 25 pips Stop Loss and a TP with a RR of 1:5. There is also a Trailing Stop to decrease risk and a Stop Profit Management to protect profits. On average it makes about 2,6 trades per month.
The EA works on EURUSD H1
Here the settings:
- Magic Number: identification number in order to run this EA with other EAs.
- risk: risk in percentage based on the balance (for example, 2 means 2% risk)
- compounding: improve the money management with the risk based on the compounding effect.
- lots: option to open orders with a predefined lots, specified in the option lots. If is 0, this option is not used.
- distCandle: minimum distance of the body candle.
- distSL: distance of the Stop Loss in Points.
- RR: distance of the Take Profit target based between the distSL and the Risk-Reward Ratio.
- StopProfitStrategy: number that define the Strategy of the Stop Loss management during the trade lifetime (leave the default number or put 0 to not use this option).
- TrailingStopMovement: this option allows moving the SL dynamically (Point by Point) until it reaches the breakeven point. It is a Trailing Stop till breakeven Point.
- filterCloseBeforeWeekend: if is true the EA close and delete all orders on Friday at 22:00 broker time.
- partialRange1/partialProfits1: range calculated in percentage from the total distance of the Take Profit (for instance if partialRange1 is 0.5 and partialProfits1 is 0.333, it means when the trade reaches 625 Points in profit (partialRange1 x distSL x RR = 0,5 x 250 x 5 = 625) it takes partialProfits1 0,333 (33% or one third of the position in profit).
- partialRange2/partialProfits2: same at the previous one, in this case partialRange2 has to be greater than the first one, otherwise if 0 is not used
- activateMoneyManagement: the money management included is the Anti-Martingale system that increase performances and lower the DD (I created a Money Management algorithm included!)
- commentTrade: put your preferred comment or leave blank to the default comment