The EA calculates the channel width using the ZigZag indicator and sets a grid of BuyStop and SellStop pending orders according to the specified settings. The first pair of BuyStop and SellStop pending orders is placed at a predetermined distance from the channel borders. The distance is set in the percentage of the calculated channel width. The channel width is calculated by the specified amount of the ZigZag peaks. StopLoss and TakeProfit levels are set for each order (specified in the parameters). The next pair of orders is set at the TakeProfit level of the previous one.
Pending order placing time is set in the EA parameters. The time of non-activated pending order removal is also specified in the parameters.
The EA distinguishes between 2-3 and 4-5-digit quotes. Parameters' values are set in points (the second or the fourth decimal place).
The EA works on any symbol and timeframe (TF).
You can set a special number to distinguish the EA's orders from orders of other tools. You can attach the EA to different charts with same instrument but different parameters. In this case, you should set different numbers for each chart. You do not have to change a number if charts have different instruments. There won't be any confusion.
Adjustable Parameters
- Size of the bet, lots - bet size of each grid order in lots
- TakeProfit level, pips - profit for each grid order in points
- StopLoss level, pips - stop level for each grid order in points
- Number of bets in the series - number of orders in each series (1 is a single pair of orders - one BuyStop and one SellStop)
- Indentation from the channel to % - indentation of the first pair of pending orders from the channel border in percentage of the channel width
- Time of placing trades - pending order placement time (hour:min) - server time
- Time of removal deals - pending order removal time (hour:min) - server time
- Waiting time of the orders, min - order send waiting time in minutes
- To send the expiry date - send pending order expiration time to the server (set to False in case of error 147)
- Number of calculation points zigzag - number of the ZigZag reference points for plotting the channel
- Slippage - slippage (parameter for placing orders)
- Room Advisor - EA's magic number
- Depth - the setting of the zigzag indicator - Depth ZigZag indicator parameter (see below)
- Deviation - the setting of the zigzag indicator - Deviation ZigZag indicator parameter (see below)
- Backstep - the setting of the zigzag indicator - Backstep ZigZag indicator parameter (see below)
- Arrow color orders BuyStop(Blue) - BuyStop order arrow color (no arrows by default)
- Arrow color orders SellStop(Red) - SellStop order arrow color (no arrows by default)
- Transfer to break-even (0=Off), pips - value in points at which the order is transferred to breakeven
- Minimum profit when break-even, pips - the value of the breakeven points.
Depth is a minimum amount of bars that will not have the second maximum/minimum less/more by Deviation pips than the previous one. Backstep is a minimum number of bars between maximums/minimums.
It is reasonable to set the indentation of the first pair of pending orders by Fibonacci levels - 23.6, 38.2, 50.0, 61.8.
Comments
- The EA shows the following data in the upper left corner of the active chart:
- the EA name and its basic parameters
- calculated channel width
- calculated indentation of the first pair of orders
Alternative Use
The EA can be used instead of the Hunter on the channel breakout BuyStop SellStop script for the automated setting of an order grid.Example
Figures indicate an example of the EA setting and its testing in the strategy tester. The last six months are used for the test. The parameters are set with no selection and optimization: Parameters Lots=0.1; TakeProfit=48; StopLoss=48; QuantityLots=10; PriceSpanPercent=32; TimeStart="01:00"; TimeEnd="23:30"; UseExpiration=true; ZigzagCount=3.
Optimization Report s7_Hunter_bot
OctaFX-Demo (Build 950)
Symbol EURUSD (Euro vs US Dollar)
Period 1 Hour (H1) 2015.07.01 00:00 - 2015.12.31 20:00 (2015.07.01 - 2016.01.01)
Model Control points (a very crude method, the results must not be considered)
Initial deposit 1000.00
Spread 10
1. Testing on a real tick story - EURUSD,H1
Strategy with low risk:
growth 15% for 6 months
maximal drawdown 6%
Strategy with high risk:
growth 150% for 6 months
maximal drawdown 65%
UPDATE
Mod.2.00 - added the function of transfer to breakeven when the specified value is reached. Two new parameters appeared in the parameters. The first sets the value in points at which the order is transferred to breakeven. The second sets the value of the breakeven points.
Testing the new version of the expert Advisor "Hunter on the channel breakout Bot NoLoss".
The new version adds the function of transferring open orders to breakeven.
Below is a screenshot of the terminal you are testing on.
Testing the updated robot s7_Hunter_bot_NoLoss v200. Test for the year 2018.
Category: Experts
Author: Aleh Sasonka
Published: 28 July 2015
Current version: 2.1
Updated: 2 March 2019
Buy the 'Hunter on the channel breakout Bot' Trading Robot (Expert Advisor) for MetaTrader 4 in MetaTrader Market!
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