The Expert Advisor opens orders when the price crosses the trend lines. The product can trade both roll backs (Bounce off level) and breakthroughs (Breaks the level).
- Bounce off level - when the price crosses the support line, a SELL order is opened; when the price crosses the resistance line, a BUY order is opened.
- Breaks the level - when the price crosses the support line, a BUY order is opened; when the price crosses the resistance line, a SELL order is opened.
To start using the EA, set the trend lines and name them according to Support and Resistance parameters (Sup and Res, accordingly). In other words, when placing a support trend line on the chart, it should be named Sup, while a resistance line should be named Res.
You do not have to use both lines simultaneously. The EA can work with only one of them.
After opening an order, the EA updates its comment to a trend line. If this comment is not deleted, the EA does not open new orders in case the price crosses the line again.
- Support - support trend line name;
- Resistance - resistance trend line name;
- Action - the action to be performed when the levels are touched. Bounce off level = roll back, Breaks the level = breakthrough;
- StopLoss - stop loss in points;
- TakeProfit - take profit in points;
- Lots - trading lot;
- MagicNum - magic number;
- BreakevenDeals - if true, trades are moved to breakeven;
- BreakevenStart - the minimum number of points passed by the price to move a position to breakeven;
- BreakevenStep - minimum profit in points to move to breakeven;
- Trailing - point based trailing if set to true;
- TrailingStart - the minimum number of points passed from the order open price for the trailing;
- TrailingStop - the number of points to start trailing stop;
- TrailingStep - trailing stop step;
- TrailingHiLow - trailing based on the Hi - Low of the previous bars if set to true;
- TimeFrame - the timeframe to search for the extrema of the previous bars;
- BarCount - the number of past bars to search for extrema;
- IndentHiLow - shift of Hi - Low from the highest/lowest value;
- TextColor - text color.