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ELEMENTAL – fully automatic multicurrency night robot.
The main idea is that any trend has its current boundaries, after which the price comes to an equilibrium state.
The boundaries of the current trend are determined by dynamic levels of support and resistance, which are updated at each candlestick.
Since night trading has its own features, the main of which is limited market liquidity, trading is performed with pending “limit” orders for additional protection from slippage.
The minimum number of parameters makes the Elemental Expert Advisor accessible even for inexperienced users.
Since this is a multicurrency Expert Advisor, trading on different currency pairs can be carried out from one chart. It’s possible to install the robot on a chart of one any currency pair and specify in parameters, which currency pairs should be traded. However, this is not the recommended method. The reason is that quotes/ticks for each individual currency pair can come from a broker at different times, and, in case of trading from one chart, delays in making trading decisions are possible. So it is recommended to install the EA on separate charts.
The EA does NOT use martingale, grid, arbitrage.
Positions are always protected by StopLoss and DD parameters.
Broker and deposit
Any broker with small spreads and fast order execution is suitable for trading.
Minimum recommended deposit – $100.
Currency pairs, timeframe, terminal
For now trading on EURUSD, USDCHF, USDJPY, USDCAD, AUDUSD, EURJPY, EURCAD is recommended.
Working timeframe – M5.
Terminal – MetaTrader5.
- AutoLot – if “true”, the EA chooses lot size for trading by itself, depending on account balance.
- Lots – lot size is set by a user, if AutoLot=”false”.
- Risk – percentage of the deposit, used for the automatic calculation of the lot.
- DD – the maximum drawdown as a percentage of account balance, at which all positions of the EA on current currency pair will be closed.
- ZeroPositions – if “true”, the EA will open positions only if there are no other open positions on the trading account.
- Visible_TP_SL – if “true”, TakeProfit and StopLoss levels will be visible for broker.
- AutoTakeProfit – if “true”, the EA will determine TakeProfit value by itself.
- TakeProfit – TakeProfit value in points, if parameter AutoTakeProfit=false.
- StopLoss – StopLoss value in points. If 0 – disabled.
- TrailingStop – trailing stop value in points. If 0 – disabled.
- TradingDirection – allowed types of orders.
- CommentOfOrder – comment to orders. Can take any value.
- EAidentifier – identifier of the EA, which allows it to distinguish its positions from others.
- InformationPanel – if “true”, information panel will be displayed.
- OneChart – if “true”, trading will be carried out from one chart. To do this, it’s needed to specify in the parameters Symbol1 … Symbol8 currency pairs, which will be traded. If “false”, trading will be carried out only on the currency pair on the chart of which the robot is installed.
- Symbol1…Symbol8 – currency pairs, on which the EA will trade, if the parameter OneChart=true. If your broker provides symbols with a prefix (for example, fx.EURUSD) or a suffix (for example, EURUSD.fx), then they must be indicated in the names of currency pairs.
Default parameters can be used for recommended currency pairs.
If you want to test the Expert Advisor in the Strategy Tester, do it in “Every tick based on real ticks” mode!
Parameters are set as for 4-digits servers. They will be automatically recalculated for 5-digits servers.