Pips Owner

The Pips Owner trades automatically. It belongs to level breakout scalping strategies. It is designed for high-speed trading on the financial instrument it is attached to. In order to trade different financial instruments simultaneously the EA must be attached to the chart of each relevant financial instrument. The Expert Advisor trades using pending orders.

Different combinations of input parameters, timeframes and financial instruments provide the trader with wide tactical trading opportunities, which allows customizing the trading in conditions of mass application of the strategy.

Input parameters

1. Initial Deposit - the initial deposit.
2. Lot Fixed - fixed lot.
3. Last Lot - the last lot (in case the EA is reloaded).
4. Lot Percent - lot as a percentage of free margin.
5. Lot Type:
• Fixed.
• Percentage.
• Differentiated.
6. Strategy Type:
• Intensive.
• Normal.
• Mild.
7. TakeProfit Start Distance - starting distance of Take Profit:
• Long.
• Short.
• Long-Short (converts the distance after opening an order form long to short).
8. Bars Number - the number of bars.
9. Distance - the minimum allowed distance for pending orders of one type, in points.
10. Inside Level - distance of the price from the level breakout for the Normal trading style.
11. Long TakeProfit - long Take Profit in points.
12. Short TakeProfit - short Take Profit in points.
13. StopLoss - Stop Loss in points.
14. StopLoss Virtual - virtual Stop Loss in points (0 - disabled).
15. Order Symbol Limit - limit on the number of positions and pending orders of one type.
16. Magic Number - magic number.
17. Monday Start Time - operation start time on Monday (server time).
18. Friday Finish Time - operation end time on Friday (server time).
19. Daily Start Time - daily operation start time except Monday (server time).
20. Daily Finish Time - daily operation end time except Friday (server time).
21. Spread Maximum - maximum spread.
22. StopLevel Maximum - maximum Stop Level.
23. Pips as Profit for Breakeven StopLoss - the number of points in profit to transfer Stop Loss to breakeven (0 - disabled).
24. Pips as Profit for TrailingStop - the number of points in profit for Trailing Stop (0 - disabled).
25. Slippage - slippage in points when closing.
26. Slippage Defense - protection against slippage in points.
27. Use Slippage Defense - apply slippage protection:
• true - yes.
• false - no.
28. Use TP Management - apply Take Profit management:
• true - yes.
• false - no.
29. Use Daily Pause - apply daily pause in trading:
• true - yes.
• false - no.
30. Connection Control - monitor connection to the trading server:
• true - yes.
• false - no.
31. Send Mail - send email notifications about disconnection from the trading server:
• true - yes.
• false - no.
32. Print Report - print reports:
• true - yes.
• false - no.
33. Language - language of the notifications:
• English.
• Russian.

The real Take Profit and Stop Loss levels are always set. Input parameters 23 and 24 can be used both together and separately. The virtual Stop Loss is static. If it is used, it can be placed closer to the Open price than the real Stop Loss.

Limitations

The number of bars for trading and testing must be greater than 99.

Recommendations

Screenshots of testing results on М30 or Н1 show the best financial instruments for applying the EA. However, it is also possible to trade other financial instruments and timeframes. It is possible to trade multiple financial instruments and/or timeframes simultaneously.

Trading should be performed on a VPS server with minimal latency. ECN/STP brokers with low or no commissions, tight spreads and no limits on scalping are preferable for trading. The Stop level and Freeze level should also be taken into account.

The EA is recommended for trading with market execution of trade orders.

Please test the EA in the strategy tester on a demo account before using it on a live account.