Price Action Expert
The Expert Advisor is designed for trading based on the Price Action method to be used on accounts with Instant Execution (not ECN) on H4-D1 charts. Recognizes price patterns: Pin Bar, Outside Bar, Inside Bar.
The Expert enters the market using both market and pending orders of STOP and LIMIT type depending on the price pattern and customized input parameters. The EA has two different trailing stops - by points and by extrema, as well as two types of stop loss - fixed and dynamic. The dynamic stop loss is placed on the high or low of the candlestick depending on the Price Action pattern. Recommended currency pairs: EURUSD, USDJPY, GBPUSD, USDCHF, EURJPY, USDCAD, AUDUSD. For EA operation, a VPS is required.
- BalanceRisk — traded lot calculation based on balance/free margin;
- Lots — fixed lot. if BalanceRisk = 0;
- TakeProfit — the take profit level in points;
- IndentSL — indent from the extreme for a dynamic stop loss in points;
- OrdersIndent — indent for placing pending orders in points;
- Expiration — lifetime of pending orders in minutes;
- Magic — magic number;
- MaxTrades — the maximum number of open trades at a time;
- MaxSpread — maximum spread for the EA operation;
- BuyColor — the color of Buy orders;
- SellColor — the color of Sell orders;
- ShowInfo — show/hide details;
- TextColor — the color of information text.
Settings of the AntiRequotes Functions
- MaxAttempts — the maximal number of attempts to open an order;
- DelaySeconds — a pause in seconds between attempts to open an order;
- Slippage — maximum price slippage.
Settings of the Breakeven Function
The function has two levels for moving trades to breakeven. The first level is processed, and then the second one. After that the function is disabled.
- Breakeven — enable/disable the breakeven function;
- StartBreakeven_1 — the number of points that the price passes in the profit direction to move positions to breakeven for the first time;
- StepBreakeven_1 — the distance in points where the first breakeven level is placed;
- StartBreakeven_2 — the number of points that the price passes in the profit direction to move positions to breakeven for the second time;
- StepBreakeven_2 — the distance in points where the second breakeven level is placed.
Settings of Trailing Stop by Extrema
Depending on the parameters, the EA finds the high/low price for n bars to set the stop loss (trailing)
- TrailingHiLow — enable/disable trailing by extrema;
- TimeFrame — period to search for the high/low price;
- BarCount — the number of bars to search for high/low of bars;
- IndentHiLow — indent in points from the high/low price to set stop loss.
Settings of Trailing Stop by Points
- Trailing — enable/disable trailing by points;
- TrailingStart — minimum number of points passed from the order open price for the trailing;
- TrailingStop — number of points to start Trailing Stop;
- TrailingStep — Trailing Stop step.
Pin Bar Settings:
- UsePinBar — enable/disable Pin Bars;
- StopLossPinBar — the Stop Loss level in points. If StopLoss = 0, dynamic stop loss is enabled;
- NoseMinSize — the minimum size of the pin bar nose in points;
- BodyMinSize — the minimum size of the body of the pin bar;
- BodySizeRatio — the maximum ratio of the pin bar body to its nose;
- ShadowSizeRatio — the maximum ratio of the pin bar shadow to its nose;
- ActionPinBar — market entry strategy: current price, price breakthrough, price rollback.
Outside Bar Settings
- UseOutsideBar — enable/disable Outside Bars;
- StopLossOutsideBar — stop loss level in points. If StopLoss = 0, dynamic stop loss is enabled;
- MinSizeOutsideBar — the minimum size of the body of the outside bar;
- MaxSizeOutsideBar — the maximum size of the body of the pin bar;
- MaxSizeShadowOBar — the maximum size of the shadow of the pin bar;
- ActionOutsideBar — market entry strategy: current price, price breakthrough, price rollback.