Ea advisor "The strategy is based on definite levels," assuming we are working on EURUSD. "These levels are fixed, they don’t change." An example given in the screen on the left where the levels are the ones in black writing. The Ea will need to recognize them because it has to do very precise actions when the price touches one of them. They can be represented like a red horizontal line on the chart like shown in the next slide. LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL LEVEL Upper level "As i type, the price on EURUSD is 1.01817." The upper level is 1.0250. The lower level is 0.99900. The first step the Ea needs to do is to place two couples of pending orders as shown in this left screen. The sell limit/stop need to be placed 3 pips below the level. The buy limit/stop need to be placed 3 pips above the level. "When one got opened, the other one" has to be erased. We are here! Lower level For example: "If the sell limit at 1.02020 got opened," the second couple need to be erased. Otherwise… "If the buy limit at 0.99930 got opened, the first couple need to be" erased. FIRST SCENARIO ( INUSUAL ONE): "If the only sell limit at 1.02020 got opened, the take profit will be the 0.99930" ( 3 pips above the lower level) 1 lot sell 1.02021 TP at 0.99930 Otherwise… "If the only buy limit at 0.99930 got opened, the take profit will be 1.02020" ( 3 pips below the upper level) TP at 1.02020 1 lot buy 0.99930 SECOND SCENARIO ( USUAL ONE): Assume now that we have both sell and buy trades opened. So we have a buy trade opened at 1.02080 and a sell trade opened at 1.02020. "We have now two levels, one upper and" one lower. The upper level is 1.03522 The lower level is 0.99901 Upper level 1 lot buy 1.02081 1 lot sell 1.02021 Lower level Assume that price is going up and it comes in the area of the upper level of 1.03522. Upper level 1 lot buy 1.02081 1 lot sell 1.02021 The 1 lot buy trade gains around 1500 euros The 1 sell trade looses around 1500 euros When the price touches 1.03492 ( 3 pips below "the level), the Ea will do the following actions:" 1) Close the 100% of buy trade in profit 2) Close the 80% of sell trade in loss 3) Execute immediately a 0.80 sell trade 4) Place a buy stop of 1 lot at 1.03552 ( 3 pips "above the level). The pending order need to be visible, please!" Lower level Upper level Assume now that price is going up again and it comes in the area of the upper level of 1.04591. - 1 lot buy trade opened at 1.03552 gaining around 1000 euros - a 0.80 sell trade opened at 1.03492 losing around 800 euros -a 0.20 trade opened at 1.02020 losing around 500 euros When the price touches 1.04561 ( 3 pips below "the level), the Ea will do the following actions:" 1) Close the 100% of buy trade in profit ( 1 lot opened at 1.03552) 2) Close the 80% of sell trade in loss ( 0.80 opened at 1.03492) 3) Execute immediately a 0.80 sell trade at 1.04561 ( 3 pips below the level) 4) Place a buy stop of 1 lot at 1.04621 ( 3 pips above the level) Lower level Upper level Assume now that price is going up and place "the 1 lot buy stop at 1.04621, then it goes down and it comes in the area of the lower level of 1.03522." - 0.80 sell trade opened at 1.04561 gaining around 900 euros - a 1 lot buy trade opened at 1.04621 losing around 1100 euros -a 0.20 trade opened at 1.02020 losing around 260 euros When the price touches 1.03552 ( 3 pips below "the level), the Ea will do the following actions:" 1) Close the 100% of sell trade in profit ( 0.80 lot opened at 1.04561) 2) Close the 80% of buy trade in loss ( 1 lot opened at 1.04621) 3) Execute immediately a 0.80 buy trade at 1.03552 ( 3 pips above the level) 4) Place a 0.80 sell stop at 1.03492 ( 3 pips below the level) Lower level Upper level Assume now that price is going down without placing the 1 lot buy stop at 1.04621. at 1.03522. We will have the following situation: - 1 lot sell trade opened at 1.04561 gaining around 1100 euros - 0.20 sell trade losing around 200 euros Our strategy is accomplished! When the price touches 1.03552 ( 3 pips below "the level), the Ea will do the following actions:" 1) Close the 100% of the opened trades Now it’s time to start a new round so we need again the couples of pending orders as seen at page 3… Lower level You should have noticed that there’s a 0.20 lot that is always floating negatively. This 0.20 mentioned above will be handled in two ways: "1) As seen in the page 9, it will be closed entirely when the strategy is accomplished ( easier way)" "2) Meanwhile, when the strategy is still on work, the 0.20 has to be closed when it comes at almost its breakeven" level. Following an example given. "At the end of page 8, we had the following situation:" 1) 0.80 buy trade opened at 1.03552 2) 0.20 buy trade opened at 1.04621 3) 0.80 sell trade opened at 1.03492 4) 0.20 trade opened at 1.02010 Assume now that price is going down and approaching the lower level at 1.02051. We will have the following situation as mentioned in the previous slide: 1) 0.80 buy trade opened at 1.03552 losing 1200 euros 2) 0.20 buy trade opened at 1.04621 losing 500 euros 3) 0.80 sell trade opened at 1.03492 gaining 1200 euros 4) 0.20 trade opened at 1.02010 losing 20 euros ( almost BE level) When the price touches 1.02081 ( 3 pips above "the level), the Ea will do the following actions:" 1) Close the 100% of sell trades ( the 0.80 and 0.20 mentioned above) 2) Close the 0.80 buy lot in loss 3) Execute immediately a 0.80 buy at 1.02081 ( 3 pips above the level) 4) Place a 1 lot sell stop order at 1.02021 ( 3 pips below the level) Upper level Lower level