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Nevalyashka_BreakdownLevel EA
The strategy of trade - the breakdown of the maximum / minimum of the selected time period.
To compensate for the unprofitable orders, use the "tumbler" with an increase in the lot on the principle of the Martingale.
This advisor calculates the maximum and minimum prices in the time interval between
Nevalyashka_BreakdownLevel(1).mq4 6.85 kb, 41 downloads since 2014-10-09
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The Nevalyashka Breakdown Level EA is a trading robot designed for the MetaTrader 4 platform. Let's break down how this EA works, its strategy, and how to set it up.
Strategy: This EA is primarily designed for intraday trading and aims to profit from price breakouts during specific time intervals. It operates with pending limit orders, meaning it places orders at predefined price levels in anticipation of a price breakout.
Key Parameters:
TimeStart: This is the starting time for the EA to operate. It defines the beginning of the trading session.
TimeEnd: This is the ending time for the EA's trading session.
TimeCloseOrder: This is the time when the EA closes any open positions. Typically, it's set at the end of the trading day.
LOT: The trading lot size, which represents the volume of the trade.
Magic: A unique identifier for the EA's trades to distinguish them from other trading robots.
K_martin: A parameter that controls whether the EA uses a Martingale strategy (increasing lot size after losses).
No_Loss: A boolean option that, when enabled, attempts to manage open positions without incurring losses.
How to Set It Up:
Install the EA on your MetaTrader 4 platform.
Define the time interval during which the EA should trade using "TimeStart" and "TimeEnd."
Set the time to close any open positions with "TimeCloseOrder."
Specify your preferred lot size with "LOT."
Optionally, configure the Martingale strategy with "K_martin."
If you want to enable a no-loss management feature, set "No_Loss" to true.
How It Works:
At the beginning of each trading session, the EA identifies the highest and lowest price levels within the specified time interval.
It then creates a rectangle object on the chart to represent this price range.
The EA waits for a breakout by placing pending limit orders just outside of this price range.
If the price breaks out above the upper limit of the range, the EA places a buy order. If it breaks out below the lower limit, the EA places a sell order.
If the trade is profitable, the EA closes it with a take profit order. If the trade goes against it, the Martingale strategy may be applied to increase the lot size for the next trade.
If "No_Loss" is enabled, the EA attempts to modify open orders to minimize losses and protect profits.
At the end of the trading day, as specified by "TimeCloseOrder," the EA closes any remaining open positions.
Please note that this EA's success depends on the specific market conditions and the parameters you set. It's important to test it on a demo account before using it for real trading.
Nevalyashka_BreakdownLevel(1).mq4 6.85 kb, 6 downloads since 2023-11-05
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