Snake Trader

This Expert Advisor is designed to trade EURUSD. Snake Trader will detect high-probability entries for price action breakouts on D1 timeframe. The EA calculates the entry at daily bars, no matter what timeframe is selected. Advantages of the EA: no martingale or grid, use of small stop loss, low drawdown, no need to optimize.

Recommendations

• VPS hosting, on which the EA runs all the time
• Broker with a low spread
• Broker with GMT+2/3 server time - five daily candles in a trading week (more precisely to trade breakouts on D1)

Parameters

• Magic Number - a unique number for strategy
• Maximum Spread (in pips) - default = 3
• Lot Size - default=0.01
• Multiply Lot per balance Equity (0 = fixed lots) - default = 45 (the Expert Advisor trades 0.01 lots per $45 balance)
• Trade Start Time - start trading at this time
• Trade End Time - stop trading at this time
• Allowed Additional Margin for Entry (in pips) - default = 4 (the maximum gap between previous day high/low and entry)
• Initial Stop Loss (in pips) - default = 10
• Take Profit (in pips) - default = 100 (exit at a trailing stop)
• Trailing stop (in pips) - default = 4
• Buy Colour - arrow colour on a chart
• Sell Colour - arrow colour on a chart
• IgnoreSunday - ignore a Sunday bar, default = true