PLC (penetration of the last candle) - expert pour MetaTrader 5

Idea by: Vyacheslav Barbakov.

MQL5 code by: Vladimir Karputov.

Trading in the price movement direction with pending Buy Stop and Sell Stop orders on the 5-minute timeframe.

The cycle starts with placing pending orders with 0.01 lots (minimum lots) above the High and below the Low of the preceding candlestick by the value of Shift OHLC.

The next Buy Stop / Sell Stop order can be placed above and below the Buy/Sell position (by the value of Shift of Positions), respectively.

Upon reaching the Minimum Profit, all positions are removed.

When fractals are broken through at the timeframe of 5 minutes and 60 minutes, you can place your orders with doubled and quadruplicated volumes (parameters Lot increase rate Fractals M5 and Lot increase rate Fractals H1).

Inputs

• Shift OHLC (in pips);
• Minimum Profit - profit, at reaching which all positions are closed;
• Shift of Positions (in pips) - shifting up from High and down from Low;
• Lots buy - Buy volume;
• Lots sell - Sell volume;
• Lot increase rate Fractals M5 ("0" -> off) - lots increasing factor when the fractal is broken through on M5;
• Lot increase rate Fractals H1 ("0" -> off) - lots increasing factor when the fractal is broken through on H1;
• magic number - unique identifier for the EA.

Stop Loss / Take Profit levels are not specified.

Testing results on M5 in the "Every tick" mode from 2017.01.16 to 2018.05.01

When using this strategy, you should note that there can be both relatively profitable periods:

and completely losing ones: