
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Main Purposes:
- Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center.
- Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price.
- Setting a necessary virtual order and entering the market in case the dealing center has prohibited placing orders closer than ‘n’ points from the current price.
- Setting Take Profit levels.
The goals are reached by the following means. The script doesn’t place a real pending order for buying. It places a market order once the Bid price reaches the level specified by the trader. Thus, brokers can widen the spread as much as they want. You will be safe and you’ll enter a long position as the price reaches a really significant level. In addition, the script includes the so called “tracking” Stop Loss that will close an unprofitable position only when the price closes below the STOPLOSS level, not when it just hits this level. Take Profit is not virtual, it is actually placed.
Script Settings:
- LOT — lot size, 0.1 on default.
- DEVIATION — price deviation, 10 on default.
- LEVEL — the trigger level for the virtual “waiting” Buy Stop order in units of the price chart. 1.10 on default.
- STOPLOSS — the Stop Loss level in units of the price chart. 1.00 on default.
- TAKEPROFIT — the Take Profit level in units of the price chart. 1.30 on default.
- NEWCHECK — a restriction on setting a stop after restart (allows setting/modifying the Stop Loss after entering a position). False on default.
The specified level for entering a position, the Stop Loss and Take Profit levels are marked with lines of different colors on the chart.
Related Posts
Trade strategy:
The Expert Advisor places pending orders above the high fractal and below the low fractal on the distance of “The point of creating order”. When one of the orders …
READ MORE
The Expert Advisor analyses two dimensions, described in the book “Trading Chaos” by Bill Williams, — the Fractal (phase space) and the Driving force (phase force). Bill Williams’ Alligator (Alligator) …
READ MORE
EAmicroMoney Bet Expert Advisor works on 1 currency pair — EURUSD. Lots are set up manually in the Lots parameter. Optimization of the Lots parameter makes this Expert Advisor powerful. It …
READ MORE
Snowman is a regular Expert Advisor based on a quite simple Moving Average strategy. Unlike most “mega-profitable” Expert Advisors, it certainly cannot earn you millions. The main idea behind the …
READ MORE
The signal is generated using standard Gator indicator. Gator Oscillator is based on Alligator and shows the degree of convergence/divergence of its balance lines (smoothed Moving Average). The upper histogram …
READ MORE
The Midas1 Expert Advisor trades based on the price rollback from the borders of a price range: it buys near the lower border and sells near the upper one. It …
READ MORE
TrendValuerTrading is a modification of the free TrendValuer Expert Advisor.
The standard set of functions allowing the trading robot to work on a real market has been added. ModeHuru mode has been …
READ MORE
This multicurrency Expert Advisor operates with 26 currency pairs. A separate software kernel on the basis of the LigaWin Expert Advisor is allocated for each currency pair. Values of the …
READ MORE
If you want something as below:
Sell FOREX trading signal.
Manage multiple accounts.
Follow somebody’s trading.
“TradeCopier_source” and “TradeCopier_follow” can help you!
Features:
Copying from one source (master) account to multiple follower (slave) accounts.
Allow investor (read …
READ MORE
Randomly place pending orders just for do some testing. All is random: random symbol, random lots, random order type, random stoploss and takeprofit…
Notice: It can’t run on live(real) account.
READ MORE
Expert Advisor BreakFractals
Expert Advisor EAmicroMoney Bet
Expert Advisor GatorGibrid
Expert Advisor TrendValuerTrading
Expert Advisor LigaWinMulty
Expert Advisor TradeCopier source
Expert Advisor Random Orders