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 opening a new candle (frequency of stop orders repositioning directly depends on a time frame of a chart where the EA is installed; a minute time frame is usually used to avoid false triggering of an order; it also depends on an 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* – take profit distance;
- slippage* – allowed price slippage;
- TimeSetOrders – local time when stop orders should be placed;
- TimeDelOrders – local time when stop orders should be deleted if none of them triggers;
- Distance* – distance above and below the price when stop orders are placed;
- UseTrailing – if true, trailing is used;
- ProfitTrailing - if true, only profit is trailed;
- TrailingStop* – fixed trailing stop;
- TrailingStep* – trailing step;
- 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
The EA Additional Features (as necessary)
- Informer — amongst other things it fixes spread widening
- Gap Visualizer — records maximum value and marks bars having gaps equal at least to the specified level
- Sending trading results by e-mail — detailed information concerning the trading result, currency pair, balance, equity sent to your e-mail
The Main Trading Technique Using the Straddle Trade EA
The Straddle Trade EA is designed for trading using the similarly-named strategy based on important news and market events. The strategy involves surrounding the price by stop orders with a view to gain a profit after a big price movement. Straddle Trade can be used both for fundamental news trading and trading using particular strategies, for instance important resistance levels breakthrough.
This EA is a handy tool for trading, but it is to be understood that 90% of success depends on a trader's skills. If the trader finds a right moment to enable the EA and understands which parameters should be used, he/she will have 100% probability to have a successful trade. This EA can help you to significantly increase your deposit if you process only one significant piece of news or economic event, i.e. in the span of just few minutes of trading. It should be noted that not all brokers are appropriate for large trading with this EA. Many of them require trades lasting over 5 minutes, increase the spread before news, or do not open orders at all.
