Idea Creator: eugene-last.
MQL5 Code Author: Vladimir Karputov.
Meet Maximus vX Lite, an Expert Advisor designed to identify price consolidation levels. It visually represents these consolidations on your chart as horizontal lines, effectively forming a channel. The two upper lines (in green) indicate the trading corridor for BUY positions, while the two lower lines (in red) highlight the corridor for SELL positions:
This EA is smart about trade management, typically limiting itself to two open positions per type (BUY or SELL). The rule is straightforward: if you already have an open position, you can only open another one of the same type after a certain period, determined by the Trade once in the 'timeframe of checked elements' multiplied by the History: timeframe of checked elements.
Input Parameters
- Trade once in 'timeframe of checked elements' - the minimum interval before a second position can be opened (this value is multiplied by History: timeframe of checked elements);
- Minimum distance from the consolidation line - the minimum gap from the current consolidation line before opening a position;
- History: range candle (High - Low) - the minimum size of the candlestick for consolidation calculations;
- History: data count to copy - the number of elements requested for consolidation calculation;
- History: number of checked elements for Max and Min - the number of analyzed elements within History: data count to copy;
- History: timeframe of checked elements - the timeframe used for consolidation calculations;
- Risk in percent for a deal from free margin - the risk per trade expressed as a percentage of free margin;
- Stop Loss - the stop loss value (50 translates to 0.00050 on 5-digit quotes and 0.0050 on 4-digit quotes);
- Min profit (percent) - the minimum profit target (in percentage) at which all positions will be closed;
- Magic number - a unique identifier for the EA.
Here's a look at the testing results on EURUSD, H1, using the default parameters:
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