Many traders use the strategy "price channel breakout - returning to the level - rollback from it". This product is a semiautomatic EA tracking the price levels set in the EA settings or determined automatically. Two operation options are available. Semiautomatic ( Automatic detection levels is set to false) and automatic( Automatic detection levels is set to true). In the semiautomatic mode, the levers are set by the user manually, set using the EA settings or by using the control panel. In automatic mode, the EA determines the price levels automatically. As soon as at least one or two bars (depending on the The criterion of breakdown of the level value) close above/below the specified price level of a given timeframe, the EA will consider the level broken. After that, depending on where the EA is allowed to trade (defined by the Trade is allowed yes/no parameter), it places a limit buy/sell order at this level and notifies the trader. In addition, the EA is able to send emails and push notifications (specified in the settings). The current location of the price relative to a price level is indicated by color. For the convenience of managing the price levels, the EA features a control panel, using which you can add, modify or delete a price level at any time.
Note: When you change the timeframe of the chart the EA is running on, it is reinitialized all the settings and levels added through the control panel will be reset to default values.
This is a multicurrency EA (only in semiautomatic operation mode; in the automatic mode, the EA only works with the currency pair it is attached to), the number of monitored currency pairs is unlimited. If you have not found a particular symbol, simply add it to the Market Watch window. The EA greatly simplifies the life of the traders who work with multiple currency pairs.
Parameters
- Trade symbols - list of traded symbols. "+" symbol is used as a separator;
- Time interval monitoring - timeframe for the EA to monitor the levels;
- Control Levels - controlled price levels. "+" symbol is used as a separator;
- Automatic detection levels - operation mode (true - automatic, false - semiautomatic);
- Stop loss - if 'Automatic detection levels' set to true - stop loss only for the automatic mode;
- Take Profit - if 'Automatic detection levels' set to true - take profit only for the automatic mode;
- Volume - if 'Automatic detection levels' set to true - volume only for the automatic mode;
- Volumes - volumes. "+" symbol is used as a separator;
- Take Profit - take profit. "+" symbol is used as a separator;
- Stop Loss - stop loss. "+" symbol is used as a separator;
- The criterion of breakdown of the level - criterion of a level breakout (one or two bars);
- Method of opening the position - choice of order type (market or limit);
- Open price offset - shift for the opening price of a pending order relative to the price level;
- Trade is allowed yes/no - enable/disable opening limit orders;
- Notice on e-mail yes/no - enable/disable opening sending emails;
- Notice on the mobile terminal yes/no - enable/disable sending push notifications;
- time life the limit orders - expiration time of limit orders in hours;
- Magic number - magic number;
- Slippage - slippage;
- Comment - comment to orders;
- Control panel on/off - show/hide the control panel;
- Text color - Choose the color of text.
Color indication: blue - price above level, red - price below level, lime - upward breakout, crimson - breakdown.
Control Panel features
The control panel allows you to: add, modify and delete price levels. The "Add" button adds a new level. To modify a value of a level, specify its symbol, timeframe and the current price level, and do not forget to specify a new level value in the field "New value price level". After that, press the "Change" button. The levels can be deleted just as easily: set the level parameters are press the "Delete" button.
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