Idea by: Sergey.
MQL5 code by: Vladimir Karputov.
Looking to enhance your trading game? Meet the Absorption EA, designed specifically for MetaTrader 5. This tool trades based on the absorption pattern and utilizes pending orders like Buy Stop and Sell Stop. With features like breakeven management and trailing stops, it’s tailored to suit your trading style. Plus, you can set individual Take Profit levels for both BUY and SELL orders!
Check out the absorption example in bar #2:
And here’s how it looks in bar #1:
Input Parameters
- Lots - the volume of the pending order you want to place;
- Take Profit Buy - Take Profit level for the Buy Stop orders;
- Take Profit Sell - Take Profit level for the Sell Stop orders;
- Trailing Stop (in pips) - set your trailing stop;
- Trailing Step (in pips) - specify your trailing step;
- Indent from High or Low - distance from the extreme high or low;
- Number of Bars to Search for Price Extremes - how many bars to check for extremes;
- Expiration of Pending Order (in hours) - how long the pending order lasts;
- Magic Number for Signal 1 - unique identifier for trades related to signal 1;
- Magic Number for Signal 2 - unique identifier for trades related to signal 2;
- Breakeven (in pips) ("0" - turns the Breakeven function off) - set your breakeven level;
- Breakeven Profit (in pips) - the profit level to trigger the breakeven move.
For optimal results, run tests using the "Every tick based on real ticks" mode for GBPUSD on the H1 timeframe, from January 1, 2018, to April 25, 2018:
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