Expert works in semi-automatic mode. The user does on the chart horizontal or trend line, which he considers the support or resistance line. The command line is specified in the format name UP | DN_xxxx: yyyy, which is understood by the expert as a call to action to buy or sell with setting stop-loss and take-profit.
The expert has a parameter setting to the size and quantity of the lot of stop-loss transfer to breakeven. If the stop-loss = 0, transfer expert breakeven produces. If greater than zero, then when the profits equal to the parameter (in points) on the transfer stop loss to breakeven. Closing a position is done either on the exposed stop-loss, take-profit or manually.
On the graph plot the trend line. MT4 gives her name Trendline 53503. If you believe that the price should push off from our line, then add the team to the title UP_xxxx: yyyy, Where:
- UP – a team to buy, DN – This sale team;
- xxxx – This stop-loss value in points;
- yyyy – the value of TakeProfit in points.
Those. in this example, I plan to set a stop loss at 300 pips from the current price, and the profit obtained from the 1200 points, so the name of the trend line looks like this: Trendline 53503 UP_0300: 1200. The expert, after seeing such a team, will oversee the price. Once the price crosses the trend line from the bottom up – the expert open the deal to buy a pre-stop loss (300 points) and take-profit (1,200 points).
The deal to buy open under the conditions:
- There are no open transactions for the purchase of this instrument, made according to an expert (checked on Magic).
- There is an open transaction to purchase on this instrument, which has formed an expert (checked Magic) and a stop-loss at the open above the opening of the transaction price, ie Stop Loss is already installed with a guaranteed profit.
For the reverse situation – for the formation of a deal to sell – a team in the title line would be: Trendline 53503 DN_0300: 1200. In this case, the expert will be waiting for the moment of crossing the price trend line from top to bottom. When this happens – it will open the deal to sell.
The deal also opens the following conditions:
- There are no open transactions for the sale of the instrument, made according to an expert (checked on Magic).
- There is an open transaction for sale on this instrument, which has formed an expert (checked Magic) and a stop-loss at the open transaction below its opening price, ie Stop Loss is already installed with a guaranteed profit.
Important observe the team recording format: UP_xxxx: yyyy and DN_xxxx: yyyy. If the stop-loss option is a two-digit (for example, 20 points), then the team is necessary to add two zeros, ie, Entry team looks like this: UP_0020: 0100.
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