Idea by: Vyacheslav Barbakov.
MQL5 code by: Vladimir Karputov.
If you're looking to trade in the direction of price movement, the PLC strategy is a solid choice, especially on the 5-minute timeframe using pending Buy Stop and Sell Stop orders.
The process kicks off by setting your pending orders with a minimum lot size of 0.01, positioned above the High and below the Low of the previous candlestick, adjusted by a value known as Shift OHLC.
For your next Buy Stop and Sell Stop, these should be positioned above and below your current Buy/Sell positions, respectively, using the Shift of Positions value.
Once your trades hit the Minimum Profit threshold, it's time to close all positions.
Keep an eye on fractals! When they break through on both the 5-minute and 60-minute charts, you can ramp up the volume on your orders—just tweak the Lot increase rate Fractals M5 and Lot increase rate Fractals H1 parameters for some serious leverage.
Inputs
- Shift OHLC (in pips) - adjust this for your order placement;
- Minimum Profit - the profit level at which your positions will close;
- Shift of Positions (in pips) - the amount to move up from High and down from Low;
- Lots buy - volume for buy orders;
- Lots sell - volume for sell orders;
- Lot increase rate Fractals M5 ("0" -> off) - increase factor when fractals break on M5;
- Lot increase rate Fractals H1 ("0" -> off) - increase factor when fractals break on H1;
- magic number - a unique identifier for your EA.
Note that Stop Loss and Take Profit levels are not specified in this strategy.
When testing this strategy on M5 in "Every tick" mode from January 16, 2017, to May 1, 2018, you might notice some mixed results:
Some periods can be quite profitable:
While others can lead to complete losses. Always be sure to manage your risk!
Comments 0