This Expert Advisor is unique in that it is not based on any technical analysis but on an analysis on market movement on a daily basis.
The EA is able to test for matching profitable periods during the day (from a 5 minute period up to a suggested maximum of 240 minute period) for corelation in either the same direction or the opposite direction.
The previous period duration and the trade period duration do not need to be the same length necessarily.
For example - the previous period 0220 - 0245 has a strong correlation in the opposite direction to the trade period of 0500 - 0600.
Some definable examples:
* The "London Rush Hour" where some large moves and counter moves are observed.
* The "NYSE Rush Hour"
* After NYSE market close
* After major news releases
* any defined move or counter move relative to a previous period during the day
Each Currency Pair, Commodity Index, Stock Index or Stock will have it's own "footprint" and through backtesting and optimization which I cover in full in the video link, I will teach you how to leverage the power of this deceptively powerful Expert Advisor.
The inputs for the EA are shown here and are discussed below. (Optimization Inputs are included)
The relevant MT4 time on my platform is UTC +3 during daylight savings time and UTC+2 during non daylight savings times
MagicNumber -? unique to each chart - 5 min charts recommended
BaseCurrency - the currency in which your lot sizes are transacted
SecondBackDSTChange - the second date backwards when DST changed - format is YYYY.MM.DD.HH
FirstBackDSTChange - the most recent date backwards when DST changed - format is YYYY.MM.DD.HH
FirstForwardDSTChange - the next date forwards when DST will change - format is YYYY.MM.DD.HH
SecondForwardDSTChange - the second date forwards when DST will change - format is YYYY.MM.DD.HH
WagerMode - determines the Wager Size - 0=Equity %, 1= Fixed lots and 2=Based on Stop Loss
EquityPercentage - the % of your equity that you will use to buy lots (if based on stop loss, this value will be % of Equity that you will lose when the stop loss is met)
FixedLots - a pre defined lot size for all trades
StopLoss - the loss in pips that your trade will close (this is an automatic trailing stop loss move up every 5% increase in profit)
TakeProfit - the profit in pips that your trade will close
WagerIncreaseMultiple - Successive losing wagers will be mutiplied by this value (up to a preset limit of 20% of equity) - default value is 1 - that is no increase
PrevStartHour - the start hour (MT4 time) of the previous period
PrevStartMinute - the start minute (MT4 time) of the previous period
PrevStopHour - the stop hour (MT4 time) of the previous period
PrevStopMinute - the stop minute (MT4 time) of the previous period
MaxPreviousPeriod - a predefined limit for the previous period (in minutes) to be reviewed (use this for backtesting and optimization)
MinPrevPipResult - the smallest pip result that will be considered for the previous period
TradeStartHour - the start hour (MT4 time) of the trade to be opened
TradeStartMinute - the start minute (MT4 time) of the trade to be opened
TradeStopHour - the stop hour (MT4 time) of the trade to be closed
TradeStopMinute - the stop minute (MT4 time) of the trade to be closed
MaxTradePeriod - a predefined limit for the trade period (in minutes) to be reviewed (use this for backtesting and optimization)
Include....days - Options to include particular days of the week (by default all days of week are included)
TradeDirection - The trade can be in the same direction of the previous trade or the opposite direction of the previous trade
Comments - Shown in the trade log (this column by default is not enabled within MT4)
The EA is unique in that is particulary strong and effective when extensively back tested and optimized. By observing the optimization inputs in the diagram above, you will get a feeling of its usefulness.
THE POSSIBILITIES ARE ENDLESS !!!
check whether any hourly period has a corelation to any other hourly period during the day.
check whether the second 30 minutes of the rush hour is opposite to the first 30 minutes. Maybe it is the first 20 minutes are opposite to the last 15 minutes
check whether after the times of major news releases, there is a tradeable retracement period
check all time intervals from 5 minutes to 240 minutes where previous trades have a correlation to other time periods.
A number of set files with explanations are provided with the Expert Advisor and are covered in the video
The Expert Advisor is available for purchase at USD $49.95 using the [Purchase] link on the right