Swing-based Expert Advisor: the EA sets a pending Sell stop or Buy stop order with an increased lot and in the opposite direction.
Inputs:
Stop Loss, in pips (1.00045-1.00055=1 pips)
Take Profit, in pips (1.00045-1.00055=1 pips)
Trailing Stop (min distance from price to Stop Loss), in pips
Trailing Step, in pips (1.00045-1.00055=1 pips)
Money management: Lot OR Risk (only for first positions) – lot calculation type for the first position: fixed lot or in risk % relative to the deposit
The value for “Money management”
//—Â trading logic
Step, in pips (1.00045-1.00055=1 pips)Â – pending stop order step
Lot coefficient (for a series of deals) – lot increase ratio for subsequent positions
Multiply the volume of all positions – enable/disable multiplying the overall volume of open positions by “Lot coefficient”
Maximum number of positions
Maximum volume of all positions
Profit target in money (“0.0” -> OFF)
Minimum Equity (in percent of balance) -> pause in trade
Close all positions at startup
//—
magic number – unique EA’s ID
Start hour
End hour
Each time, the EA starts a trading cycle after falling within the allowed time interval between Start hour and End hour provided that there are no pending orders and no positions opened by this EA. An open position is accompanied by a pending stop order. A position volume depends on the Money management and The value for “Money management” parameters, while the volume of a pending Stop order depends on the Lot coefficient and Multiply the volume of all positions parameters.
Position direction is determined according to the following rule:
Close of bar #0 > Close of bar #1 -> open BUY; OTHERWISE -> open SELL
Pending stop order type depends on an open position:
if BUY, a Sell stop is set; if SELL, a Buy Stop is placed
A pending stop order is set at Step from the current price. Trailing Stop and Trailing Step are enabled further on together with the profit tracking mechanisms (Profit target in money and Minimum Equity).Â
When a pending order is triggered, a pending stop order with an increased lot is set again in the opposite direction.
It is recommended to run optimization on small timeframes. First of all, look for the Stop Loss, Take Profit and Step parameters.
