Pender forex Expert Advisor
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Trading is performed using pending orders on important price levels, that are detected by advanced adaptive algorithm A.P.L.D., that gives the opportunity to respond quickly to changes of market conditions.
The A.P.L.D. algorithm provides 3 strategies of important price levels detection. They can be used either together or separately.
Virtual StopLoss is always set.
Two- levels adaptive TrailingStop for accounts with floating spread.
“Dangerous” strategies are not used.
Trading can be performed either with fixed lot or with automatic money-management system.
Broker and deposit
Any 5-digit broker with low spreads and fast execution is suitable for trading.
Minimum recommended deposit – $100.
Currency pairs and timeframe
Trading on EURUSD, USDJPY, USDCAD or on any currency pair with small spread is recommended.
Trading on several currency pairs is not recommended, because of periods of drawdown. And if such periods match on several currency pairs at the same time, common drawdown of trading account can be noticeable.
Timeframe – H1.
Terminal – MetaTrader4.
Recommended settings for EURUSD are set by default.
By default, the StartHour and EndHour parameters are set for the winter terminal time zone GMT+2. If necessary, set these parameters according to the time zone of your terminal.
The A.P.L.D. algorithm provides 3 strategies of important price levels detection. They can be used either together or separately.
Virtual StopLoss is always set.
Two- levels adaptive TrailingStop for accounts with floating spread.
“Dangerous” strategies are not used.
Trading can be performed either with fixed lot or with automatic money-management system.
Broker and deposit
Any 5-digit broker with low spreads and fast execution is suitable for trading.
Minimum recommended deposit – $100.
Currency pairs and timeframe
Trading on EURUSD, USDJPY, USDCAD or on any currency pair with small spread is recommended.
Trading on several currency pairs is not recommended, because of periods of drawdown. And if such periods match on several currency pairs at the same time, common drawdown of trading account can be noticeable.
Timeframe – H1.
Terminal – MetaTrader4.
Recommended settings for EURUSD are set by default.
By default, the StartHour and EndHour parameters are set for the winter terminal time zone GMT+2. If necessary, set these parameters according to the time zone of your terminal.
Parameters
AutoLot – if “true”, the EA selects the lot size for trading depending on the balance value.
Lots – lot size is set by a user, if the value of AutoLot is “false”.
Risk – parameter for automatic lot calculation, if AutoLot value is “true”.
AutoRiskReduction – if “true”, it provides reduction of possible risks in case of simultaneous using of all three strategies.
DD – the maximum allowable drawdown. If reached all positions of this currency pair will be closed.
Strategy1 – if “true”, the EA uses the first strategy.
Strategy2 – if “true”, the EA uses the second strategy.
Strategy3 – if “true”, the EA uses the third strategy.
TakeProfitInPoints – take profit in points.
AutoStopLoss – if “true”, the EA detects StopLoss level automatically.
StopLoss – virtual stop loss in points, if AutoStopLoss=false.
TrailingStop – trailing stop in points.
TwoLevelTrailing – if “true”, the EA will use 2 levels of TrailingStop. The first – for order protection, the second – for earnings.
VirtualTrailing – if “true”, the EA hides the modified StopLoss levels from the broker.
CommissionFor1Lot – broker commission for 1 lot, in the deposit currency. If your account does not have a commission, set to “0”.
OpenMode – if “true”, pending orders will be set only on the beginning of new bar.
Delta – indent from important price level for pending orders.
StartHour – hour to start trading.
EndHour – hour to stop trading. All current pending orders will be deleted.
SummerAdjustment – adjustment for daylight saving time.
EAMagic – magic number of the EA, which allows it to distinguish its orders. There are two more hidden EAMagic parameters that are determined automatically. That is, for example, if you set EAMagic = 10, then the advisor reserves two more “magic numbers” – 11 and 12. Keep this in mind when simultaneously running several robots on one account.
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.
AutoLot – if “true”, the EA selects the lot size for trading depending on the balance value.
Lots – lot size is set by a user, if the value of AutoLot is “false”.
Risk – parameter for automatic lot calculation, if AutoLot value is “true”.
AutoRiskReduction – if “true”, it provides reduction of possible risks in case of simultaneous using of all three strategies.
DD – the maximum allowable drawdown. If reached all positions of this currency pair will be closed.
Strategy1 – if “true”, the EA uses the first strategy.
Strategy2 – if “true”, the EA uses the second strategy.
Strategy3 – if “true”, the EA uses the third strategy.
TakeProfitInPoints – take profit in points.
AutoStopLoss – if “true”, the EA detects StopLoss level automatically.
StopLoss – virtual stop loss in points, if AutoStopLoss=false.
TrailingStop – trailing stop in points.
TwoLevelTrailing – if “true”, the EA will use 2 levels of TrailingStop. The first – for order protection, the second – for earnings.
VirtualTrailing – if “true”, the EA hides the modified StopLoss levels from the broker.
CommissionFor1Lot – broker commission for 1 lot, in the deposit currency. If your account does not have a commission, set to “0”.
OpenMode – if “true”, pending orders will be set only on the beginning of new bar.
Delta – indent from important price level for pending orders.
StartHour – hour to start trading.
EndHour – hour to stop trading. All current pending orders will be deleted.
SummerAdjustment – adjustment for daylight saving time.
EAMagic – magic number of the EA, which allows it to distinguish its orders. There are two more hidden EAMagic parameters that are determined automatically. That is, for example, if you set EAMagic = 10, then the advisor reserves two more “magic numbers” – 11 and 12. Keep this in mind when simultaneously running several robots on one account.
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.