Idea by: Scriptor.
MQL5 code by: Vladimir Karputov.
Working with pending orders Buy Stop and Sell Stop. A channel of two indicators iMA (Moving Average, MA).
- Take Profit - Take Profit;
- Trailing Stop - trailing;
- Trailing Step - trailing step;
- Lots - lot size is set manually (a NECESSARY CONDITION: Risk must be equal to zero!);
- Risk - lot size is calculated automatically, in risk percents per trade (a NECESSARY CONDITION: "Lots" must be equal to zero!);
- Difference - offsets from the channel borders;
- Expert Every Tick - enable/disable working on every tick;
- MA PRICE_HIGH and PRICE_LOW: averaging period - indicators averaging period;
- MA PRICE_HIGH and PRICE_LOW: horizontal shift - indicators horizontal shift;
- MA PRICE_HIGH: smoothing type - averaging type for indicator calculated by High prices;
- MA PRICE_LOW: smoothing type - averaging type for indicator calculated by Low prices;
- magic number - unique identifier for the EA.
Trading idea: Forming a channel of two indicators iMA (Moving Average, MA) - one based on prices PRICE_HIGH and another one on PRICE_LOW. Pending Buy Stop and Sell Stop orders are placed at the channel boarders. The calculation is on the break-through (catching a strong movement).
The EA can work in modes: On every tick and only when a new bar appears. The mode is defined by parameter Expert Every Tick. An example of how parameter Expert Every Tick affects the EA operation, exemplified by EURUSD,D1:
Please note that this strategy may have dead seasons, i.e., the times without any entrances, the period of no rollbacks for a currency pair: