Idea by: Scriptor.
MQL5 code by: Vladimir Karputov.
Today, we’re diving into the Binario Expert Advisor (EA) for MetaTrader 5, designed for traders who like to work with pending orders like Buy Stop and Sell Stop. This EA uses a channel formed by two indicators based on the Moving Average (MA).
Input Parameters You Need to Know
- Take Profit - Set your desired profit level;
- Trailing Stop - Enable trailing stops to lock in profits;
- Trailing Step - Adjust the trailing step size;
- Lots - Manually set the lot size (IMPORTANT: Risk must be zero!);
- Risk - Automatically calculates lot size based on the risk percentage per trade (IMPORTANT: “Lots” must be zero!);
- Difference - Set offsets from the channel borders;
- Expert Every Tick - Choose to enable or disable operation on every tick;
- MA PRICE_HIGH and PRICE_LOW: Averaging Period - Set the averaging period for indicators;
- MA PRICE_HIGH and PRICE_LOW: Horizontal Shift - Define horizontal shifts for indicators;
- MA PRICE_HIGH: Smoothing Type - Choose the averaging type for High price calculations;
- MA PRICE_LOW: Smoothing Type - Choose the averaging type for Low price calculations;
- Magic Number - This is your EA's unique identifier.
The trading strategy revolves around creating a channel with two Moving Averages: one based on the highest prices (PRICE_HIGH) and the other on the lowest (PRICE_LOW). Pending orders are placed at the channel's borders, aiming to catch strong price movements when a breakthrough occurs.
This EA can operate in two modes: on every tick or only when a new bar appears. You can control this behavior using the Expert Every Tick parameter. Here’s how this setting impacts the EA's functionality using EURUSD on the D1 timeframe:
Keep in mind that this strategy may experience periods of inactivity, known as dead seasons, where there are no trading opportunities due to a lack of price movement:
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