EA Straddle Trader

Operation Principle

The EA places two stop orders (BuyStop and SellStop) with preset stop loss and take profit at a specified distance from the price and within specified time. Stop orders are repositioned every time after a new candle opens (frequency of stop orders repositioning directly depends on the time frame of the chart where the EA is installed; a minute time frame is usually used to avoid false triggering of an order; it also depends on the applied strategy). Pending orders will be repositioning relatively to the price until one of two orders triggers or until both orders are deleted at a specified moment.

After one of pending orders opens, the other one is automatically deleted. Then the EA keeps working with the open order: it changes the StopLoss level according to trailing settings to make the order move to breakeven and close in profit by the StopLoss level or the specified TakeProfit.

External Parameters

• Lots – lot size of stop orders opened by the EA
• StopLoss* – initial stop loss
• TakeProfit* – distance to place the take profit
• slippage* – allowed price slippage
• Distance* – distance above and below the price when stop orders are placed
• autolot - automatic calculation of the lot
• MaxRisk - deposit loss percentage if the initial stop loss is triggered, required for the calculation of the lot
• TimeSetOrders – local time when stop orders should be placed
• TimeDelOrders – local time when stop orders should be deleted if none of them triggers
• seconds before modification - the number of seconds until the modification of the stop orders, if set to 0, the modification happens at a new bar
• UseTrailing – if true, uses trailing
• ProfitTrailing - if true, only profit is trailed
• TrailingStop* – fixed trailing stop
• TrailingStep* – trailing step
• MaTrailing - enable trailing by moving average
• PeriodMaTrailing - moving average period for trailing
• INFO — if true, the informer is enabled
• comment — a comment displayed in the informer and a title of a letter, if required
• Color — informer color
• VisualGap — if true, all gaps found in the process of the EA operation will be visualized;
• MinFixedGap* - minimum size of gaps in points to be visualized
• Infoprofit — if true, the informer will display a profit in an account currency; if false, it will display the profit in pips
• MailSend — if true, the EA sends an email with the main information concerning the trade after the trading order is closed
• UseSound – if true, the sound signal is played when the EA opens, modifies, closes or deletes orders
• NameFileSound – can be changed, "expert.wav" is used by default

* parameters which must be different for symbols with 4 and 5 decimal places

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