FaceOut MMT system
The Expert Advisor trades false breakthroughs. The trading robot uses no indicators. Standard indicators are derived from the price. "False breakthrough" pattern is formed by the actual buyers/sellers balance.
Most traders do not control their emotions and are ruled by fear and greed. They enter the market during strong price impulses and local breakthroughs for fear of missing the movement. Big players use this liquidity and then start moving against the crowd creating a very powerful impulse.
The Expert Advisor enters the market together with large players and places two orders:
- The first one has a fixed take profit and breakeven function in case there is no false breakthrough;
- The second one uses trailing stop to catch a lengthy trend.
The product has been optimized for working on EURUSD Н4. However, it shows good results on other currency pairs as well.
- If the Expert Advisor is launched on Н4, select a broker with UTC +1 terminal time.
- ECN broker with no limitations on stop limit and narrow spreads.
- In the settings, Gap field should exceed the symbol's spread.
- Magic - unique number.
- Bar - number of bars for the false breakthrough.
- Sleep Bar - minimum number of bars for the local High\Low.
- Spike - distance in points, upon breaking which the breakthrough is considered to be true.
- Gap - distance in points for placing an order near a broken level.
- Time live order - pending order's lifetime in bars.
- Stop loss - initial stop loss.
- Stop_1 - distance in points, for which the stop loss is moved after the 1st candle from its High\Low is closed.
- Stop_1_2 - distance in points, for which the stop loss is moved after the 2nd candle from High\Low of the first or second candle is closed (depending on which of the candles is the farthest).
- Paritet - distance in points for moving a position to breakeven (only for the first half of the position).
- Trailing stop - trailing stop.
- Take profit - take profit.
- Risk - risk per deal in percentage value.
- bNoOffsetPos - prohibit opening an opposite position if the previous one is not closed yet.
- LlineColor - support line color.
- HlineColor - resistance line color.
- Part1Trade - enable/disable the first position.
- Part2Trade - enable/disable the second position.
- DrawVLine - enable/disable vertical lines.
Optimized settings for live trading are presented in Comments tab. They are updated from time to time.