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Specifiche
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Green candle means - Closing price is greater than Opening price.
Red candle means - Closing price is less than Opening price.
Timing Of Triggering Trades:
1 trade is triggered every time a candle closes, except on the candle that ends are rollover time. The candle that closes at 0:00 will also trigger a trade but it should be 300seconds before so it would trigger at 23:55:00
If the chart timeframe if H1 then 23 trades will be triggered when the candle closes and 1 trade will be triggered at 23:55:00
If the chart timeframe if H4 then 5 trades will be triggered when the candle closes and 1 trade will be triggered at 23:55:00
If the chart timeframe if D1 then there is only 1 trade per day and it will be triggered at 23:55:00
The conditions & direction of trades:
If a candle is green and it is time to trigger a trade EA will trigger a Buy trade
If a candle is red and it is time to trigger a trade EA will trigger a Sell trade
Types of trades & workings of EA
Settings – Input Section
Main Trade Size = 0.10 lots
Main Trade Profit = 0.00100
The EA first triggers a Main Trade let’s say it is a 0.10 lot buy order @ 1.17200 and feeds in take profit level of 1.17300
Price goes up and hits take profit. Trade closes. Next time conditions are met since there are no active trades, EA again triggers a Main Trade.
Settings – Input Section
Counter Trade Size = 0.70 lots
Counter Trade Profit = 0.00100
IF however, price does not reach 1.17300, but instead moves down. When the conditions are met EA triggers a Counter Trade and let’s say it is a 0.70 lot sell order @ 1.16850 and feeds in take profit level of 1.6750
Price moves down further, and hits take profit. A profit of 100 points x 0.70 lots = $70 – commission charges = $65 net profit
Now the EA automatically adjusts the loss of the Main trade. The Main Trade is currently making a loss of 1.17200 – 1.16750 = 450 points x 0.10 lots = $45 + commission charges = lets say this is $48
The EA just closes the entire 0.10 Main trade since the loss of the Main Trade is less than the profit of the Counter Trade.
If however, the active loss was something like $95 and the Counter Trade profit was $65 then the EA would only close part of the Main Trade. ($65/$95)x100 = It would close less than 68.42% of the Main Trade so 0.06842 lots but rounded down so it would close 0.06 lots
0.04 lots of the main trade would remain active. Now conditions for a new trade are met again and a new trade is triggered. It will be a Counter Trade again since there is an active Main Trade that is in a loss.
*Note* The gross profit must be taken from the terminal since the above calculation will not always be accurate. If we are trading the EURAUD chart and funds are in USD then there will be a conversion rate due to which the profit might be 35% or 30% lower. Therefore, we take the profit from the terminal – commission – swap charges to land the net profit.
Similarly, the loss on the loss making trade should also be calculated from the terminal.
In this way the Counter Trades will be placed again and again until all the Trades are closed. Counter Trades will also be placed to reduce losses on other loss-making counter trades. It is not only restricted to reducing the losses on Main Trades.
Counter Trades will be restricted when trades are in profit.
In some cases, I need the EA to restrict placing a trade. This is when another active trade is in profit. So, if there is a buy order at 1.12530 with take profit 1.12630 (whether it is a Main Trade or a Counter Trade). If price rises to 1.12670 and the time comes to trigger another buy order, the EA will not place this trade since there is an active buy order in profit. However, if the price was 1.12620 then it would trigger the trade.
Therefore by this logic if there is an active trade at 1.12630 then the EA will only place another buy order if the price is lower than 1.12630
The same rule applies for sell orders. If there is an active sell order at 1.10450 then it can place another sell order only at prices above 1.10450