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Specification
I am new in MQL, I need of update EA MT4!
In one of these forums of the life, I found a EA that seems to be promising, but it needs some filters not to get into all the conditions set by the algorithm.
1. The Stop Loss System is fixed, distance between support and resistance, where the SL is set in the High price of the candle to Short Order , and is fixed in the Low price of the candle to Long Order.
I want to create an external parameter to increase this SL.
example:
StopLoss = 2
Long Order: if the distance between the Resistance and Low price of the candle in the bottom of the Support line is 20 PIP
Stop Loss: 20 * 2 = 40
Stop Loss = 1
To Short Order: if the distance between theSupport and High price of the candle on top of the Resistance line is 30 PIP
Stop Loss: 30 * 1 = 30
2. Create a parameter external to break even.
example:
Breakeven = 30 PIP
EA entry to a short order, the price moved 30 PIP to the bottom, then EA drags the Stop Loss to opening price of the short order
3. Insert the William's Percent Range indicator to filter the long order and short order
External Parameter
PeriodWilliam: 48
LevelSell: -60
LevelBuy: -40
Examples
When price is above the -60 level, the EA does not perform Short Order (SELL)
When the price is below the -40 level, the EA does not perform Long Order (BUY)
PeriodWilliam: 48
LevelSell: -40
LevelBuy: -60
When price is above the -40 level, the EA does not perform Short Order (SELL)
When the price is below the -60 level, the EA does not perform Long Order (BUY)
PeriodWilliam: 48
LevelSell: -50
LevelBuy: -50
When price is above the -50level, the EA does not perform Short Order (SELL)
When the price is below the -50 level, the EA does not perform Long Order (BUY)
As I understand it, the Ea opens a resistance line and a support line , when the price is crossing a of lines at some point, will be opened a BUY or SELL order.
Let us illustrate:
PeriodWilliam: 48
LevelSell: -50
LevelBuy: -50
When price is above the -50 level, the EA does not perform Short Order (SELL)
When the price is below the -50 level, the EA does not perform Long Order (BUY)
Let's follow the hypothesis that there is a sign for Short Order (SELL), but the price is racing above the -50 level, so EA will not open an DEAL. But in the next candled (bar) the price is closing below of -50 level. THE EA DOESN'T OPEN SHORT ORDER!!!!!
It is the same to LONG ORDER (buy)!!!!
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39
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32
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5
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100%
Overdue
1
50%
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