Market / MetaTrader 5 / Experts /

Order Block Nerd

FREE

Published: 4 July 2023

Current version: 1.4

Order Block Nerd

Experts
Amos Tsopotsa
Version: 1.4

The Expert advisor was created based on ORDER BLOCKS AND SMART MONEY CONCEPTS and Pit floor trading strategies.

TRADING SETTINGS:

Working Time frame : Current to 1 Month i recommend trading from 1Hr to Daily time frames as lower time frames are more prone to markets noise

Stop loss : Use this to set your stop loss per trade taken

Take Profit : Use This to set your target take profit level

Trailing Stop minimum distance from the price : As the trade moves into profit this trailing stop follows as a way to lock in profits incase of retracements

Lots : Use this to set the minimum or maximum lot size you want to use for trading an asset class

Trade Mode : You have the option to select buy only ,sell only OR Buy and Sell

Pit floor orders

X1 : Order block price level 1

X2 : Order block price level 2

X3 : Order block price level 3

X4 : Order block price level 4

I Highly recommend to leave the default settings of 1 on all these order blocks

Coefficient : This is a statistical measure of the dispersion of data points around the mean. It is calculated as the ratio of the standard deviation to the mean, and can be expressed as a percentage, The lower the ratio of the standard deviation to mean return, the better the return relative to the risk.

PLEASE LEAVE THIS SETTING SET TO 1 DONT CHANGE IT

Deviation in points : This is a manual setting used to avoid requotes. This allows the system to execute your order within the permissible slippage parameter set. Requotes only happen in instant execution, which means that deviation can only be used when placing market orders on instruments using instant execution.

PLEASE SET THIS TO 1 ALWAYS MAKESURE ITS SET THAT WAY

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