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Level15 automatic Expert Advisor is based on classic trading from price levels. No technical indicators are used to determine trading levels. Only current volatility of a currency pair matters.
Trading is provided by a series of orders: initial positions are opened in order to “study” the current state of the market and factors that influence it – with a high probability these positions will immediately give profit. If market factors turned out to be unfavorable, the Level15 Expert Advisor opens opposite positions.
DD parameter executes StopLoss function.
Expert Advisor with simple and profitable strategy: Yellow
Stable trend Expert Advisor: TFollower
Broker and account type
Broker – any.
Account type – any with leverage from 1:400 and higher.
Timeframe and deposit
Timeframe – H1.
Minimal recommended deposit:
– for cent accounts – $300 (30000 cents) for 0.1 lot.
– for standard accounts – $3000 for 0.01 lot.
Currency pairs and terminal
Trading on any currency pair except metals and indicies is recommended.
Terminal – MetaTrader4.
- EAMagic – “magic number” of the EA, that allows it to work only with its positions. Must have different values for every chart.
- AutoLot – can be set to “true” or “false”. If “true”, the EA selects lot size for trading depending on account balance.
- Lots – lot size is set by a user, if the value of AutoLot is false.
- Risk – percentage of the deposit used for the automatic calculation of the lot.
- DD – maximum allowed drawdown in % of balance. If reached, all positions on that symbol will be closed.
- CommentOfOrder – comment to orders. Can take any value.
- TakeProfitInPoints – take profit in points.
- TrailingStop – trailing stop in points.
- LotMult – lot multiplier for next opened position.
- StartHour – hour to start trading.
- EndHour – hour to stop trading.
- TradeOnFridays – can be set to “true” or “false”. If “false”, the EA will not open new order series on fridays, but will continue to accompany previously opened order series.
- SaveDeposit – can be set to “true” or “false”. If “true”, the EA will close order series with minimal profit regardless of TakeProfitInPoints parameter.
- ShowLevels – can be set to “true” or “false”. If “true”, the EA will show current price levels in the beginning of next trading hour.
- ShowInfoPanel – can be set to “true” or “false”. If “true”, the information panel will be displayed on the chart of the traded pair.
- Panel_Language – language of the information panel.
- TextColor – font color of the information panel.
Recommended settings – default and on testing screenshots.
Parameters are set as for 4-digits servers. They will be automatically recalculated for 5-digits servers.
Once a month it’s recommended to check that account history (history of previous trades) is downloaded to MT4 terminal. It’s important.