The Black Raven EA
This is a trend scalper which determines the most probable trend direction via behavior of prices (ratio of High-Low to Open-Close) on a certain number of bars which precede to the trade opening.
The EA controls total amount of profit/loss via virtual stop loss and take profit.
Trailing stop has the main function. It works both in loss and in profit.
Recommended time frame: M5, major currency pairs (metals) with low spread.
It can work on several currency pairs at a time.
The MaxSpread setting allows to avoid opening orders when a broker significantly increases spread, for example during big impact news and high volatility. The setting is disabled by default. We recommend to use it by setting MaxSpread on the level of regular spread on the trading instrument + 1-1.5 points.
Expert Advisor Setup:
- comment - this value will be in comments to the EA's orders;
- MM - enable money management;
- MaxRisk - if ММ=true, a working lot will be calculated using this value;
- Lot - if ММ=false, this will be your working lot value;
- VirtualTP - total number or points in profit to close all market orders opened by the EA;
- VirtualSL - total number or points in loss to close all market orders opened by the EA;
- Kperiod - setting the %K Period parameter of Stochastic Oscillator;
- Dperiod - setting the %D Period parameter of Stochastic Oscillator;
- Slowing - setting the Slowing parameter of Stochastic Oscillator;
- TrailingStop - start trailing stop;
- TrailingStep - trailing stop step;
- MaxTrades - maximum number of orders opened be the EA at a time;
- Slippage - maximum slippage level;
- EnableMaxSpread - enable protection from opening orders when broker increases spread;
- MaxSpead - maximum spread level. The EA cannot open orders above this level;
- Magic - magic number to distinguish the EA's own orders.