Advanced Pin Bar Trader

Advanced Pin Bar Trader

Beginning of work

Trade pin bars as you like! Fully customizable adviser, including risk management, automatic calculation of levels of stop loss and take profit, as well as various input types in the market.

  • Working balance – account balance excluding transactions with the same symbol, and the magic number as an instance of the advisor.
  • Total risk – This total amount for all the time that the advisor can lose. Total risk is calculated as a percentage of balance sheet Working balance.
  • Today’s target – The current profit target for today. Calculated as a percentage of the balance Daily profit Working balance.
  • Today’s balance – Balance at the beginning of the day, the permissible amount the advisor can lose. Calculated as a percentage of the daily risk of Daily risk Total risk overall risk.
  • Risk per trade – if the parameter “Lot size and take profit calculation type” is set to Auto, the total riskuemaya amount per transaction is calculated as a percentage of Risk per trade from Today’s balance
  • Today’s profit – profit / loss from the beginning of the day. The beginning of the day – at midnight server time.
  • Equity – for convenience here appear available funds in the account

Main settings

  • EA Magic Number – magic number adviser. When using individual values, risk management and the calculation of the stop-loss can be carried out individually.
  • Minimum pinbar size (in points) – bar with a height (distance between the maximum and the minimum) is below this value are not considered by the expert as a possible pin bar.
  • Long to short wick and long wick to body ratio – how many times the long shadow should be a shade longer than the short and longer than the body. If the value is no longer a ‘1’ is entered, the adviser will issue an error message. This value is the filter to recognize pin bars.
  • Daily Profit (percentage of balance) – as soon as it earned a specified percentage of the balance, an adviser to stop their work.
  • Total risk (percentage of working balance) – as soon as the loss reaches a specified percentage of the balance sheet, the adviser will stop its work.
  • Daily risk (percentage of total risk) – as soon as a specified percentage of the total risk Total risk is lost, the adviser will stop its work.
  • Risk per trade (percentage of daily risk) – if the parameter “Lot size and take profit calculation type” is set to Auto, a deal risk is the specified percentage of the daily risk Daily risk.
  • Market entry type when pin bar exists – entry into the market: stops or warrant correction.
  • Retracement (percentage of pinbar height) – if the previous option is selected Retracement_Orders, this value is used.
  • Additional stop order distance (in points) – if parameter “Market entry type when pinbar exists” is selected Stop_Orders, this value is used.
  • Enable trailing stops – the use of a trailing stop.
  • Trailing stop loss distance (in points) – if the parameter “Enable trailing stops” is set to true, the parameter sets the minimum distance from the stop-loss level to the current price.
  • Price change to trail stop loss (in points) – if the parameter “Enable trailing stops” is set to true, this parameter indicates the distance from “Trailing stop loss distance (in points)” for modifying the stop-loss.
  • Lot size and take profit calculation type – if indicated to Auto, the Advisor will automatically calculate the lot size and distance of the stop loss based on the height of the pin bar and setting “Risk per trade”.
  • SL: TP ratio (TP as a multiple of SL) – if the parameter “Lot size and take profit calculation type” is set to Auto value EA will automatically calculate the distance to take profit on the basis of the stop-loss using this coefficient.
  • Additional stoploss distance (in points) – if the parameter “Lot size and take profit calculation type” is set to Auto, the Advisor will take into account this additional distance stop-loss when calculating the size of the lot.
  • Fixed lot size per trade – if the parameter “Lot size and take profit calculation type” is set to Manual, will be used for the orders given lot size.
  • Fixed stop loss per trade (in points) – if the parameter “Lot size and take profit calculation type” is set to Manual, the stop loss will be set at a distance from the opening price of the warrant.
  • Fixed take profit per trade (in points) – if the parameter “Lot size and take profit calculation type” is set to Manual, Take Profit will be installed at a distance from the opening price of the warrant.

Note that even when the “Lot size and take profit calculation type” setting is Manual (Manual), by specifying a zero value for any of the manual adjustments Advisor will use the automatic calculation of the value.

Advanced Pin Bar Trader

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