Overview of the DeMarker EA
Meet the 'DeMarker' Expert Advisor, a handy tool that operates on the well-known DeMarker indicator by utilizing pending orders, specifically 'Limit' and 'Stop' orders. The magic happens when a new bar forms, triggering the EA to check for signals.
This EA gives you the flexibility to activate or deactivate key features such as Stop Loss, Take Profit, and Trailing. A neat addition is the 'Trailing activate if profit is >=' setting, which acts like a breakeven mechanism. As soon as your trade hits the specified profit level (measured in Points), the classic trailing stops kick in.
When placing a pending order, it’s set at a distance specified by the 'Pending: Indent' parameter from the current market price. If the current spread exceeds your set limit ('Pending: Maximum spread (set to '0' to disable)'), the EA will skip the signal and won’t place the order. Plus, if your target profit in cash ('Target Profit, in money (set to '0' to disable)') is hit, all open positions will close, and any pending orders will be wiped out.
Pic.1. DeMarker Pending
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