Experts10 Auto Tader is a VertexFX client-side Auto Tader based on the price action and range breakout pattern.
The concept behind the Experts10 EA is that price sustains and continues in the direction of a breakout. If the price breaks the previous day’s High, then the likelihood of the bullish trend continuing is very high. Likewise, if the price were to break the previous day’s Low, then the likelihood of the bearish trend continuing is significant. Although the Experts10 EA can be applied on a chart of any time-frame, it has been observed that it has a high probability of success on daily charts.
In the first step we retrieve the previous day’s High (H1) and Low (L1). In the second step we find the current day’s Open (O) and Close (C).
A BUY-STOP order is placed at the previous day’s High + BREAKOUT_DISTANCE if
(a)H1 – C is greater than POROG, and C – L1 is also greater than POROG, and
(b)Today’s open is below previous day’s High (O < H1).
The concept behind this BUY-STOPorder is that today’s price should not open above yesterday’s High, and the current price is at a moderate distance from previous day’s High and Low range. When a bullish trend occurs intraday, the price starts rising and as it crosses yesterday’s High it triggers the BUY-STOP order. This indicates a strong continuing bullish trend and the likelihood of price rising further is very high, culminating in a profitable trade.
A SELL-STOP order is placed at previous day’s Low – BREAKOUT_DISTANCE if
(a)H1 – C is greater than POROG, and C – L1 is also greater than POROG, and
(b)Today’s open is above previous day’s Low (O > L1).
The concept behind this SELL-STOP order is that today’s price should not have opened below yesterday’s Low, and the current price is at a moderate distance from previous day’s High and Low range. When a bearish trend occurs intraday, the price starts falling and as it falls below yesterday’s Low ittriggers the SELL-STOP order. This indicates a strong continuing bearish trend and the likelihood of price falling further is very high, culminating in a profitable trade.
Special attention should be paid to the POROG parameter which is critical in identifying best entries and avoiding false and whip-saw trades. Since H1 – C and C – L1 must be greater than POROG for entry condition, ideally the value of POROG should be a multiple of the average daily range. It has been statistically observed that when the value of POROG is set to 0.35 times the Average Daily Range it yields excellent entry signals.
The lot-size of each pending BUY-STOP and SELL-STOP order is calculated based on Account Equity, PERCENT_OF_DEPOSIT and STOP_LOSS. If the calculated lot-size is less than MIN_LOT, then the lot-size is set to MIN_LOT.The profit target and stop-loss are set to TAKE_PROFIT and STOP_LOSS respectively.
The pending orders are cancelled at the end of the day, however open positions can continue to the next day. Open trades are closedeither stop-loss or profit target.
At most one BUY-STOP and one SELL-STOP order can be placed per day. So, it is possible that both BUY-STOP and SELL-STOP order placed for the day, with the likelihood of each getting executed during different times of the day.
https://www.hybridsolutions.com/plugins/client-vtl-plugins/free/experts10.html
