This EA utility opens trade when price touches trend line on your chart.
How to use in 2 steps?
- Attached this utility on your chart with your desired parameters and risk management settings set.
- Draw a line using " Horizontal line tool " or " Trend line tool " on your chart.
Rules:
- You can draw a minimum of 1 line and a maximum of 2 lines in the chart.
- It will only trade once on a symbol when it touches the line.
- You need to have a fundamental knowledge about trend line trading.
Parameters:
- MagicNumber - return an identifying (magic) number of the currently selected order.
- Trend Line Strategy - The Option to choose,
- A: Break Out Trend Line - will open buy when it crosses above 1 line or when it crosses above the Upper line, will open sell when it crosses below 1 line or when it crosses bellow the lower line.
- B: Reversal Trend Line - will open sell when it crosses above 1 line or when it crosses above the Upper line, will open buy when it crosses below 1 line or when it crosses bellow the lower line.
- Trail Stop Pips (0 to Deactivate) - Will move stop loss if price moves in favor.
- Delete Line - if set to true, it will delete trend lines after a trade is open.
- Max Spread points - the maximum spread you allow to open a trade.
- EA_Comment - input comment in trade.
- ~~~~~Risk Settings~~~~~
- TradeSize - input initial lot size.
- Loss Factor - wil multiply lot size if last trade is loss.
- Restart lot on consecutive losses - if consecutive losses is reached the next trade will open at initial lot size.
- TPSL Pips or Average True Range(ATR) - the option to choose,
- Use ATR as TPSL - it will use ATR values as measurement on placing TP and SL.
- Use PIPS as TPSL - it will use Pips values as measurement on placing TP and SL.
- ATR Settings ------------------------------------------------------
- TP ATR Size Multiplier - Multiplies ATR size to use as TP.
- SL ATR Size Multiplier - Multiplies ATR size to use as SL.
- ATR Period - Input ATR period value.
- Pips Settings ------------------------------------------------------
- TP_Pips - Input pips to use as TP.
- SL_Pips - Input pips to use as SL.
- Alert Settings - It will alert you every time it opens a trade.
- Send_Email
- Audible_Alerts
- Push_Notifications
if you have more questions just send me a private message here in MQL, thank you.
