Indicator PA Patterns Robot

Buy PA Patterns Robot Expert Advisor in the store selling algo trading systems

This non-indi­ca­tor Expert Advi­sor iden­ti­fies 7 sim­ple Price Action can­dle pat­terns: Inside bar, Piv­ot Point Rever­sal (PPR), DBLHC & DBHLC, Clos­ing Price Rever­sal (CPR), Engulf­ing, Pin bar (2 bars & 3 bars), Out­side bar.

When a new pat­tern is detect­ed, the EA places pend­ing orders with def­i­nite Stop Loss, Take Prof­it and vol­ume para­me­ters. Inso­far as orders are pend­ing, it can be used both autonomous­ly and in man­u­al trad­ing, as you near­ly always has time to close a pend­ing order on not too small time frames if you find it sus­pi­cious for some rea­son.

Default para­me­ters are not con­sid­ered as oper­a­tional, but they are wide-rang­ing to the utter­most, and opti­miza­tion should be start­ing with these para­me­ters.

We rec­om­mend using this EA along with PA Pat­terns Indi­ca­tor for ease of visu­al mon­i­tor­ing.

Parameters:

  • Max risk (pips) and Min risk (pips) — lim­i­ta­tion of bar size on the top and on the bot­tom to avoid pre­de­ter­mined­ly small and over­sized tar­gets.
  • Take profit/Stop lossTP val­ue will cor­re­spond to the can­dle height mul­ti­plied by this ratio (SL is on High or Low of the cor­re­spond­ing can­dle).
  • The next is the list of the pat­terns the robot will respond to. We rec­om­mend choos­ing one pat­tern and adjust set­tings exact­ly for this pat­tern. Use sev­er­al win­dows with dif­fer­ent para­me­ters.
  • Lot and Risk (%). Pri­or­i­ty belongs to Lot, i.e. to man­u­al set­ting of a deal vol­ume. If you set 0, the robot will refer to the next para­me­ter, which is Risk (%). In this case the deal vol­ume will be cal­cu­lat­ed in such a way that when stop loss trig­gers, deposit per­cent­age spec­i­fied in this para­me­ter will be with­drawn. Lot is con­sid­ered to be a min­i­mum if both para­me­ters are set to zero.
  • Work­ing day starts at/Working day ends at — begin­ning and end of a work­ing day. It uses the time of the chart, but not the local time! The begin­ning can be lat­er than the end.
  • Orders expi­ra­tion (bars) — num­ber of bars after which a pend­ing order expires.
  • If loos­es num­ber more then …stop trad­ing ’till next — trad­ing can be stopped till the end of a day, a week, or a month in case of the spec­i­fied con­tin­u­ous num­ber of loss­es.
  • If draw­down more then (%) …stop trad­ing ’till next — trad­ing can be stopped till the end of a day, a week, or a month in case of the spec­i­fied con­tin­u­ous draw­down.
  • Force orders? — a pend­ing order can not be locat­ed too close to the cur­rent price. When this func­tion is enabled, the robot will move the order to a per­mit­ted zone.
  • Max num­ber of orders — when amount of opened (but not pend­ing!) orders exceeds this num­ber, the EA will pause the oper­a­tion.
  • Fil­ter (pips) — moves a pend­ing order, SL and TP over this dis­tance (in points) from High and Low can­dles.
  • Mul­ti­pli­ca­tor To Sto­pLim­it (err.130), Mul­ti­pli­ca­tor To Min­Ex­pi­ra­tion (err.3) — I would call these para­me­ters bro­ker ratios. Some­times spreads leap so fast, that they can appear in a renewed and increased Stop Lim­it while the pend­ing order is cal­cu­lat­ed and placed, i.e. a spread locates too close to the cur­rent price. If you have too many errors with cor­re­spond­ing codes in your jour­nal, think of increas­ing these para­me­ters. These para­me­ters are essen­tial for oper­a­tion only. In the process of opti­miza­tion they mat­ter on small TF only, where pat­terns are not effec­tive.
  • Mark orders? — whether to draw an arrow on the chart when an order opens?

The robot’s peculiarities which should be born in mind:

  • places pend­ing orders;
  • if an attempt to place an order has led to an error, there will not be the sec­ond attempt. We sup­pose that the sit­u­a­tion has changed;
  • no trail­ing;
  • does not depend on num­ber of the instru­men­t’s dec­i­mal and lot step (if the lot is not set man­u­al­ly);
  • sen­si­tive to spreads;
  • sen­si­tive to mar­ket changes, so do not opti­mize it on a too deep his­to­ry.

 

PA Patterns Robot 

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