Description:
This Expert Advisor (EA) is designed for trading based on key daily price levels: the daily opening (o1), the daily high (h1), and the daily low (l1). It uses the distances between these levels—up to three steps—to establish a filter base that is confirmed by the Commodity Channel Index (CCI).
Note: The demo version is specifically coded for demo accounts only. Using it on live accounts may impact other systems and manual trading! The D1 version is compatible with all brokers that use the MetaTrader 4 platform, but it offers fewer features compared to the premium version (€148) and does not include visual display options.
My systems are optimized for simultaneous trading of up to nine currency pairs.
Keep in mind that Forex trading is highly risky. It's advisable that your margin does not exceed 20% of your account balance!
Base Version: The underlying values for this EA are the daily opening (o1), daily high (h1), and daily low (l1). The distances between these levels form the filter base, confirmed by the CCI.
- Lots: The default setting for the “Lots” is 0.1. If you are trading a micro account, you should adjust this setting to 0.01.
- Auto Trading: By setting “autoTrading = false,” you can disable position opening during trading hours. My EAs are fully automated, meaning you won’t have to worry about what happens if... The EA will assess the day after trading hours, and a summary will be provided over the weekend.
- Reversal: Setting “Reversal = true” allows you to close open positions (possibly at a loss) in the event of a trend reversal.
- Stop Loss / Take Profit: You can set a Stop Loss using “OrderSL” if one has not already been generated by the system, and a Take Profit using “OrderTP.”
- Profit Stop: With “ProfitStop” (recommended: €200 or $200 per 0.1 lots), all positions will close when the Profit Stop threshold is reached. The Profit Stop will gradually decrease to 10% of its set value by trading close.
- Settings: You can view and modify your current settings in the relevant chart using the F4 key at any time.
- GMT / Time Difference:
If the chart time (broker time hh:mm) differs from GMT (hh:mm), you must adjust the difference (in hours) under “GMT_Diff.” All time references are based on GMT (Greenwich Mean Time). For example: Chart time - GMT = GMT_Diff (16:30 - 15:30 = +1). - Manual Trading: During trading hours (5 AM to 2 PM GMT), a position will open with the lot value (0.1) if no open position exists for that currency pair. For instance, if a position was opened at 5 AM and closed by 8 AM, a new position will open at the next trading signal until 2 PM GMT. If you want to limit yourself to one position, reduce the trading hours accordingly.
- Modify and Close Positions: When the holding time (e.g., HoldingHours set to 10 = 10 hours) or the GMTclosingHour is reached, a positive position will close, and a negative position will adjust its Take Profit to the opening value of that position.
Happy trading!
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