Trade LevelsfreeExpert Advisor opens positions from the support/resistance levels placed by a trader. The trading robot has been designed for semi-automatic round-the-clock trading freeing users from the need to constantly monitor the market. The Expert Advisor can be conveniently used on H1 by launching it on VPS service. The EA and level parameters are set and changed by a trader directly on a symbol chart. The trading robot manages only its own trades and does not interfere with the manually opened ones.
After the launch, the EA sets the parameters, displays the levels and places three parameters under each level. The mentioned elements’ values are set by default. A trader sets the levels and the parameter values directly on the symbol chart right after launching the EA.
The first parameter is a level angle (calculated by the EA, used for setting parallel levels). The second parameter is a direction of the position opened from the level when it is reached by the price (set by a trader: 0 — only buy, 1 — only sell, 2 — buy or sell according to the bar open price location (see description below), off — level disabled).
For example, a sell position from the level is opened if the open price of a previous bar is below the level and situated at the distance exceeding gap value (in points), while the price falls within 2*gap range (see the screenshot). Position is closed in case the level is piercedwhen the price reaches stop loss value (case I) or a new bar on the opposite side from the level is opened at the distance exceeding gap value (case II). In case of a rollback from the level, the closing is performed by take profit (case III).
In order to simplify trader’s level analysis, the EA makes a screenshot of the traded symbol chart and places it to //files/Symbol() (where Symbol() is the trading symbol name) within the interval of minutes set by print parameter. If print=0, chart screenshots are disabled. File name format — “symbol name month day hour minute index” (where index: “_0” — position opening; “_1” — position closing).
trade — enable/disable the EA (“on” or “off” ).
slip — allowed slippage when opening/closing a position (in points).
lot — basic position volume.
The first and the final reference level points should be located within the past week (inside the vertical red lines). The number of holidays between the past and the current weeks should be equal to two for the correct calculation of non-horizontal levels. This requirement does not apply to horizontal levels (see the screenshots and video).
Free Version Limitations
The EA works only on EURUSD with the minimum possible position size.
The number of levels is limited by two (see the table).
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