NearTheMarket is a fully automated trading EA with an excelent predicting criteria to enter into Market. First it opens market orders, buy or sell, with a predefined Take Profit. If after a specified time the trade is still open, the robobot deletes the Take Profit and opens a limited order with a lots amount equal to a multiple of lots of the market order.
The mission of the robot is to get the PayOffPrice (average price of the net position) closer to market price.
Again, if open orders are on both sides the robot opens a new limited order on the side with more open lots when the PayOffPrice is under or over, a certain amount of points respect to the market price.
So, trade is closed by Take Profit or, all together, by a Closing Function when a target profit is reached.
In the free version no input parameter are available, execpt MaxSpread value.
You can use or test the robot on a real or demo account, type ECN or STP, with a minimum amount of 10.000 USD or equivalent and with a leverage 1:500. I suggest to start with EURUSD M1.
Normally the drawdown should not go over 30% of the balance. The spread applied by the broker may be up to 20 points (2 pip).
Principal input parameters:
MaxSpread - set the maximun value when your broker does not apply a commission. With a commission the MaxSpread must be around 2.
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