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Open Trade on Price Action Closing Beyond the Support / Resistance Line Drawn on Chart

MQL4 Esperti

Specifiche


Open Trade on Price Action Closing Beyond the Support / Resistance Line Manually Drawn on Chart (Set & Forget). 

Price Action from Below and closing Above the Line drawn, will open a BUY Trade. (Will not open trade if it just touches or the Price action upon crossing Up and  closes below the Line drawn)
Price Action from Above and closing Below the Line drawn, will open a SELL Trade. (Will not open trade if it just touches or the Price action upon crossing Down and  closes above the Line drawn)
Once a BUY or SELL position is opened, that Support or Resistance line will be inactive and will not be considered for BUY and SELL signal in the next 24 hours. If Price Action only touches the line without meeting the BUY or SELL conditions, then it can be further considered for BUY and SELL signal. 

New positions can be opened in the same chart due to other Support and Resistance lines drawn.

StopLoss : Stop Loss = Low of the Candle which opens a BUY trade / High of the Candle that opens a SELL trade

TakeProfit: Take Profit in PIPS

MaxStopLoss: Maximum allowed Stop Loss (in PIPS). if the Signal candle is too large, to avoid having big Stop Loss, this feature will be used. If the difference in PIPS between the Signal candle's Close price and High 

(or Low) is 80 PIPS but if MaxStopLoss = 40, then StopLoss will be = 40 PIPS

MinStopLoss: Minimum allowed Stop Loss (in PIPS). if the Signal candle is too small, to avoid having small Stop Loss, this feature will be used. If the difference in PIPS between the Signal candle's Close price and 

High (or Low) is 10 PIPS but if MinStopLoss = 30, then StopLoss will be = 30 PIPS

BreakEvenTrigger: Profit in PIPS. When Break Even is Triggered

BreakEvenPoint: + / - PIPS relative to Open Trade Price. Stop Loss will be moved to this point, when BreakEvenPoint is triggered. Value = 0, will move the StopLoss to the Break Even position. Value = 5, will move the StopLoss to 5 PIPS profit. Value = - 5, will move the StopLoss to - 5 PIPS Loss. 

EquityTrailTrigger: Distance in PIPS from TakeProfit when reached, the TakeProfit will be increased by EquityTrailPIP and the StopLoss position will be moved by EquityTrailPIP to protect more profit. If it is Zero, ignore. 

Example:
TakeProfit = 40 PIPS
StopLoss = Current position is at break even
EquityTrailTrigger = 5 PIPS
EquityTrailPIP = 10 
So when the Profit reaches 35 PIPS and is 5 PIPS short of reaching initial TakeProfit of 40 PIPS, StopLoss is moved to 10 PIPS profit and the new TakeProfit = 40 + 10 PIPS = 50 PIPS.
The process will repeat till the position is closed or stopped out

EquityTrailPIP: Value in PIPS

Lot Size = Manually enter Lot size 

Multiple Orders = Yes. (if No, it will not open any New order if an existing trade is Open and ignore further Buy or Sell Signal). If Yes, It will open a BUY or SELL order at each BUY or SELL Signal. If Multiple Orders = Yes, Then TakeProfit, StopLoss, MaxStopLoss, MinStopLoss, BreakEvenTrigger and EquityTrailTrigger will be applicable to all the individual Open trades. 

Drawdown_StopLoss = % of Equity (If Multiple Orders are Open, all open positions will be closed if draw down from all the positions in that chart is equal to % of Equity). Push Notification should be generated if this event happens

Multiple_Profit =  % of Equity (If Multiple Orders are Open, all open positions will be closed if profit from all the positions in that chart is equal to % of Equity). Push Notification should be generated if this event 

happens.

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