LINEXCUTORS - TrendLine Break EA

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Linexcutor works by watching two trendlines, UPPERline and LOWERline. First of all, we specify the two trendlines. Then rename each of them. After that, just run the EA. The EA will open a trade on the closing or leaving a trendline. This is a semi-automatic system, where we specify the trendlines and have the EA do the rest.

GET THE EA AND MORE EA HERE

How does it work :

  • After specifying the proper trendlines (Linexcutor1 and 2), the EA will watch the price movement

  • If price is in between both trendlines :

    • when price touch upper TL (Linexcutor1), SELL will be opened (bounce down)

    • when price touch lower TL (Linexcutor2), BUY will be opened (bounce up)

    • If price break any of trendline, any opened bouncing trade (described above) will be close, then a new trade will be opened according to its direction

      • Breaking upper TL (Linexcutor1) : BUY

      • Breaking lower TL (Linexcutor2) : SELL

    LAST UPDATE [ July 11, 2009 ] - PLEASE DOWNLOAD THE FILE :

  • Trade will only be ONE for both trendlines

  • Trendlines names changed to UPPERline and LOWERline

  • Parameters for trendlines name, trading mode, ea name, magic number, now external (changable)

  • You can specify which mode to trade :

  • Trade inside the angle (bouncing trade) only

  • Trade outside the angle (breaking trade) only

  • or Both of them, like before

Files:
linexcutorwork.jpg  104 kb
linexcutors.gif  15 kb
 

updated ...

 
fosgate_r:
Hi, Linexcutors will watch price movement around trendlines we made. Once it touch or cross one of them, a trade will be made.

Could you post your whole setup with indicators and template?

 

Hi Thor,

For this EA, it does not need any external indicator. You only need to draw 2 trendlines, and change the name to :

- Upper trendline : Linexcutor1

- Lower trendline : Linexcutor2

The indicators in my screenshot is just for my guidance

 

Hi fosgate_r,

Nice EA, Do you think you can add Trailing stop, Stop loss, Take profit

Cheers.

fosgate_r:
Hi Thor,

For this EA, it does not need any external indicator. You only need to draw 2 trendlines, and change the name to :

- Upper trendline : Linexcutor1

- Lower trendline : Linexcutor2

The indicators in my screenshot is just for my guidance
 

No problem, I'll add it later

 

hi

Can you add the indicators?

 

Hi tinohrid,

This Ea uses no indicator. the user have to manually draw a trend line on the chart then you rename it to

- Upper trendline : Linexcutor1

- Lower trendline : Linexcutor2

Another way would be to use a trend line indicator but you have to rename the trend line to the above.

 

Thanks for the explanation Claypot.

Yes, Linexcutor is a trendline breaking EA. We need to draw the trendlines first then let the EA watch and execute the trades.

Regarding your request, I have added the TP and SL, but not yet Trailing Stop :P I'll do it later. The new version, I put it in my blog. You can download it from there.

 

modified

 

Thanks fosgate_r see how we go, nice blog!

fosgate_r:
Thanks for the explanation Claypot.

Yes, Linexcutor is a trendline breaking EA. We need to draw the trendlines first then let the EA watch and execute the trades.

Regarding your request, I have added the TP and SL, but not yet Trailing Stop :P I'll do it later. The new version, I put it in my blog. You can download it from there.
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