Candle Breakout EA
Candle Breakout EA is a trading tool for the traders who use the strategy of the breakout of previous candlesticks' high and low. The Expert Advisor opens a buy order, if the high of the previous candlestick has been broken, and it opens a sell order if its low has been broken. A trader can use trailing stop or breakeven to maintain positions. Also, the EA has tons of other options for tuning it for your specific strategy.
- Time Filter - if True, the EA will trade only on the specific period of time.
- StartTime - start of the trading period.
- EndTime - end of the trading period.
- amount of additional points the EA needs to open an order
after breaking a high or a low of a previous candle.
- SameBarsAmount - amount of previous candles of the same color, at which the EA is allowed to open a new order on a candle of similar color.
- MaxSlippage - maximum allowed slippage.
- MaxSpread - maximum allowed spread.
- FixedLot - fixed lot for open orders.
- AutoLotSize - automated lot calculation. If True, the EA calculates the lot using ForEveryDepositSize and LotWillBe parameters; if False, the EA will use the fixed lot.
- ForEveryDepoSize и LotWillBe - which lot will be used for a certain deposit sum. For example, if you set 450 for ForEveryDepositSize and 0.01 for LotWillBe, it means that 0.01 lots will be used for each 450 units of the deposit. If you have 900 on the balance, the lot will be 0.02. If the balance is 1 350, the lot will be 0.03, if 1 800 - 0.04 etc.
- StopLoss - number of loss points. The EA will close an open order after it has reached these points.
- TrailingStart - additional points for activating a trailing stop.
- TrailingStop - trailing stop.
- BreakEven - number of profit points. The EA will place a stop order on the open price of the order after it has reached these points.
- MaxOpenOrders - maximum allowed open orders at the same time.
- CloseOrderOnNewCandle - if TRUE, when a new candle appears on a specific pair, all previous orders, which were opened on that pair, will be closed.
- OpenAtCloseCandle - if TRUE, when a current candle breaks a high or low of a previous candle, instead of opening a new order instantly, the Candle Breakout EA will wait till the current candle will be closed and only after that, if the closed candle truly breaks high or low, the EA will open an order.
- TradeReverse - if TRUE, instead of a buy order, the EA will open a sell order and vice versa.
- Magic - unique number combination assigned to orders, so the EA will recognize them.
- Code is completely rewritten.
- Added the "Trailing Start" setting.
- Added the "TradeReverse" setting.
- Added a parameter for slippage control. If slippage will be higher than you allowed in the setting, then the EA will not open an order.