BuyTradeOnly is an EA that opens only BUY trades, and its entry logic is based on small price movements.
To close trades, it uses a trailing stop with a fixed stop loss.
The settings are meant for EURUSD M1 but it is possible to use them with other timeframes, such as M5, M15 and M30.
As per all our EAs, the results are related to the number of trades that may be opened at the same time (MaxOpenOrders), to the percentage of risk used (RiskPercent) and to the account leverage that we suggest should be of 500 on a micro account.
These values are interdependent meaning that the EA calculates the amount of lots for each trade to open considering MaxOpenOrders parameter and the ratio between the part of balance calculated with RiskPercent parameter and the margin required by broker for one LOTSIZE.
Number of trades that may be opened respecting the MaxOpenOrders parameter is calculated considering the amount of lots and the amount of balance usable applying RiskPercent parameter.
To get the best settings, we strongly suggest you to run an optimization process because history data vary between brokers, so testing should always be done using the broker intended to trade with BuyTradeOnly.
If you're going to live with it, do the optimization process and testing on the live account, not a demo one, as data usually varies between the two.
For more details about settings and other aspects, please use this link http://www.forexrobotrade.com/?p=559
- Added comment "BuyTrdOnly" to OrderSend function.