Idea by: Alexey Lopatin
MQL5 Code Author: barabashkakvn
This Expert Advisor (EA) springs into action with the emergence of a new bar, making it a handy tool for your trading strategy.
Trading System Signals
- A signal to open a BUY position: If the Close price of bar #Bar index for signal checking is > the Open price of bar #Bar index for signal checking;
- A signal to open a SELL position: If the Close price of bar #Bar index for signal checking is < the Open price of bar #Bar index for signal checking;
Trading Settings
You have the flexibility to disable Stop Loss and Take Profit by simply setting the respective parameter value to 0.0. If you want to reverse trading signals, use the parameter Enable/disable reverse mode for trading. Keep an eye on the current spread as well; if it exceeds the Maximum allowed spread, the position open signal will be ignored.
Working Timeframe
For your convenience, the Work TimeFrame is a separate parameter. This allows you to test the EA on your chosen symbol across all timeframes, giving you a better understanding of its performance.
Position Volume Calculation
This EA offers two options for position volume: trading a fixed lot size (set Lots > 0 and Risk = 0) or using a dynamic calculation (set Lots = 0 and Risk > 0). Here’s a quick breakdown:
- Lots - fixed position volume (in this scenario, the Risk parameter must be set to zero);
- Risk - percentage risk per trade (in this case, set the Lots parameter to zero).
For example, if you’re trading the EURUSD with the setting "Every tick based on real ticks":
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