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Bar by Bar MT4

The scalper Expert Advisor monitors and makes deals when the number of bull / bear bars in a row reaches a predetermined value. It works on opening a new bar (by default M5), if the signal continues, an additional transaction is opened. The adviser has several parameters that respond directly to the direction of trade:

  • TIMEFRAME - working timeframe;
  • MIN_BAR_SIZE - minimum bar size, set as% of ATR;
  • DIRECTION_CONTINUED - the number of bull / bear bars in a row to open a transaction in the direction of travel;
  • DIRECTION_REVERSAL - the number of bull / bear bars in a row to open a trade opposite to the direction of movement;
  • PERIOD_ATR - period of the ATR indicator, for calculating the minimum bar size;
  • MAX_ORDERS - the maximum number of orders in one direction;
  • IGNORE_SIGNAL - ignore the signal to open a trade if there are already open positions opposite to the signal until the number of opposite trades reaches the value MAX_ORDERS;

The adviser has a time job function:

  • START_HOUR, START_MINUTE - the hour and minutes allowed to open trades;
  • STOP_HOUR, STOP_MINUTES - hour and minutes for the end of trading;
  • CLOSE_ZEROLEVEL - close all orders on breakeven if the allowed time for trading is over;

Management:

  • USE_BALANCE_PCT - the percentage of funds from the balance that the adviser can use is set for each symbol separately;
  • FIX_START_LOT   - fixed starting lot for each N amount from the balance (FROM_BALANCE);
  • FROM_BALANCE   - N amount of balance to calculate the starting lot (FIX_START_LOT);

Closing deals:

  • STOPLOSS_IN_PIPS - if TRUE, then STOPLOSS is set in pips, otherwise in% of balance;
  • VIRTUAL_STOPLOSS   - stop loss;
  • STOP_TRADING - stop trading when a loss is received;
  • VIRTUAL_TAKEPROFIT   - take profit in pips, initially calculated from the opening price of the first order;
  • START_TP_ZEROLEVEL - the number of orders when the take profit starts to be calculated from the breakeven level;
  • CLOSE_AT_ZEROLEVEL - the number of orders when all trades will be closed for a total breakeven;
  • USE_TRAILINGSTOP - allow to use trailing stop;
  • TRAILING_STOP, TRAILING_STEP - start and trailing stop step;
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