This PZ Day Trading EA trades untested breakouts of variable periods when the market is orderly and behaving in a predictable fashion. It is oriented towards short-term trading and relies on the fact that volatility increases by orders of magnitude when the market reaches previously untested price levels, allowing for a quick profit or a small loss based on a time expiration. The EA performs well in orderly markets and suffers in very small timeframes or thinly traded instruments.
- Easy to set up and supervise
- No optimization or analysis needed
- Stop-loss and take-profit levels are automatically set
- No averaging, no grid, no hedging, and no martingale
- Orders are closed on Friday night
- Offers time and session filters
- NFA-FIFO compliant
- Don’t trade any other EA in the same symbol.
- Be patient, the EA only trades when it finds a suitable scenario.
- Try to never unload the EA to assure the atomicity of the strategy.
- There is no need to set a different Magic-Number to trade different symbols.
- Trade from a VPS or leave your trading computer turned on 24/5.
- The EA trades using pending orders at bar closing.
- The EA will not trade if a weekly or daily gap has not been closed.
- The EA sets appropriate stop-loss and take-profit orders based on market levels.
- The EA will by default close all pending orders on friday night and end the week flat.
- The EA uses pending orders to trade, slippage should not be a problem.
- Session and time filters are not evaluated if the Ea is trading D1 or above
- High spreads will decrease the trading frequency of the EA.
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
Choose if you want to buy, sell, or both.
- Most Breakouts: The EA will trade most breakouts it detects, even outside a predictable range.
- Detected Ranges: The EA will trade only if it detects a trading range. All trades will have a suitable take-profit.
- Confirmed Ranges: The EA will trade only after a trading range has been confirmed. Less trading frequency but more quality.
Enable to forbid the EA from trading until the weekly or daily gap is closed.
Amount of past bars to iterate looking for suitable ranges. A higher value will produce more, yes less reliable trades.
The minimum range of bars to be broken to take a trade. A lower value will produce more, yet less reliable trades.
The minimum amount of consolidated bars needed to find a suitable stop-loss. A lower value will produce more trades.
The expiration time for losing trades.
Amount of timeframes the EA looks up to confirm trading levels. A higher value will produce less, yet more reliable trades.
Profit in pips at which the EA moves the stop-loss above/below the open price for the first time. Must have value.
Upon breakeven, the SL can be moved to the open price or secure part of the profits.
Trailing stop expressed as % of current trade profit.
Minimum increase in pips for the trailing stop.
Trade Asian Session
Enable to trade during the Asian session.
Trade European Session
Enable to trade during Europe session.
Trade American Session
Enable to trade during the American sessions.
Trade on XXXXday
Enable to trade on XXXXdays
Close orders on Friday Night
Enable to close orders on Friday night.
Money Management Behavior
Choose if the EA must trade a manual lot or auto-calculate the lot-size.
Percent of free margin risked on each trade if money management is automated.
Manual Lot Size
Size of each trade, if money management is disabled.
Enable to trade with US Brokers or netting accounts.
The EA uses the magic number to identify its trades.
Enter your custom comment for trades.
Maximum slippage allowed for trades. Do not set below 10 points or it is ignored by the broker.
The EA can trade the following symbols and timeframes.
- EURUSD (D1 / H4 / H1)
- GBPUSD (D1 / H4)
- USDJPY (D1 / H4)
- XAUUSD (D1 / H4)
- AUDUSD (D1)
- USDCAD (D1)
- USDCHF (D1)
- NZDUSD (D1)
Don’t be afraid to experiment with different settings based on the set files.
- For More PZ Indicators And EAs Visit – HERE