The Brains Behind the Idea: Andrey
Code Creator: barabashkakvn
Ketty is an Expert Advisor (EA) designed to work with pending Buy Stop and Sell Stop orders, specifically tailored for the MetaTrader 5 platform.
Utilizing the well-known strategy among British traders, Ketty plays into the idea of being “stop level hunters.” This means that the initial market movement at the opening of the London session may not always be reliable.
Here’s how to execute the buying strategy:
- Wait for the London session to kick off and monitor the price until it dips to a new range low, at least below the Open price by the Channel Breakthrough value (this range is the price movement between the Frankfurt and London openings).
- Once the pair reverses, it should hit a new high.
- Set a pending buy order with a volume of Lots positioned Order Price Shift above the range high.
- Remember to immediately set your stop loss (Stop Loss) and take profit (Take Profit) levels.
To calculate the channel range accurately, strictly consider the time from Channel Start Hour:Channel Start Minute to Channel End Hour:Channel End Minute. Look for the high and low points within this timeframe and use these values, along with the start and end times, to visualize the channel:
A pending order should be placed within the specified time range from Placing Order Start Time (hours) to Placing Order End Time (hours). If this time window closes and the pending order hasn’t been activated, it’s best to cancel that order.
Example: GBPUSD on M15:
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