This system uses tops and bottoms to place Buystop/Sellstop orders witha a small Stoploss and if the order isn't closed by the Stop, it continues to ride the Trend until it's closed by an implemented indicator or if a certain number of bars have passed since the order was opened or TP function . It also has a Lot management system included which is correctly calculated for accounts in USD .
New alternative settings Post #79 in the "Comments" section .
The EA also has a Breakeven function wich can be set by the user and Trailstop function .
It is recomended that you trade with a low-spread broker because the system uses small stops and of course , if the spread is larger, you must also increase the StopLoss , which leads to a higher drawdown .
The system also has a loss recovery function which partly recovers the losses using Macd indicator , price levels and the jump in price when the other conditions are met .
Pairs : EUR/USD , USD/JPY , GPB/USD .
Timeframe : H1 .
Magic - Magic Number .
Lots - Lot size if lot size used is fixed and no auto lot management is used ;
Manage_Lot - true/false - if true , lot size will be automatically calculated by the EA ; if false , fixed lot size will be used;
Risk Percent - is used in the auto lot management , if set to 1 , with Manage Lot set to true , it will open 0.01 lot size for every 100$ of the account equity .
Hard Stop - is a normal stoploss ,set in points , based on the pending order placement or on the virtual trade level , if virtual pending orders are used ; if it is set to 0 it is not used ;
Virtual Stop - closes the open order if it was triggered at worse price than initially requested , so that the loss is not larger than it should be ; it is set in points and is not used if it set to 0;
Take Profit - normal takeprofit , set in points , based on the pending order placement or on the virtual trade level , not used if set to 0;
Close Orders by Macd indicator or after a certain number of bars after the order was opened , customisable (true or false) ;
Close by Macd Offset : delays the closing by Macd to prevent premature closing ;
CloseByNewLevel - if true , moves the TakeProfit to a newly formed trade level ;
TrailingStop - set in points , not used if set to 0;
TrailStep - the step in points the TrailingStop will move;
StartTrailAfter - starts TrailingStop only after the input number of points;
BreakEven - true/false ;
BreakEven after points - moves the Stop after the input number of points ;
BreakEvenPoints - points to lock in profit if BreakEvenAfterPoints is activated;
Level - set to 48 - upper and lower levels from the last 48 candles in the chart ;
VirtualPendingOrders - if true , market orders will be used instead of pending orders;
MaxSpreadPoints - the maximum spread in points allowed for market orders;
Working time for sending market orders : StartTime , EndTime;
Loss Recovery function uses lot multiplication to achieve profit , places market orders based on high/low trade levels combined with Macd indicator . Profit and loss can be managed by normal SL or TP , or by account currency.
Adding new set files in the "Comments" section .
Close by Parabolic SAR indicator - follows the profit with a Trail Stop defined by Parabolic SAR value from last candle .
Defined working time for orders as integer , so they become optimisable .
Added new Max Spread parameter , used when resuming operation after pausing .