Frustrader Break Out Expert is one of the best semi-automatic experts for trend based strategies.
Here's how the expert works:
The figure below shows the Expert Input window.
Lot volume: In this section, you can determine the amount of lots in each transaction.
If you enter a value of zero, the expert will automatically calculate the volume according to the risk entered on the next option (the following) and takes a the position, taking into account the amount of risk.
Risk: In this section, you can specify from 0.01% to 100% the maximum amount of risk allowed for each positioning. If you enter the number zero, the expert will automatically calculate allowed risk based on margin.
Trailing stop: This section is dedicated to determining the dynamic loss limit.
The rest of the options adjust expert appearance settings in the chart. You can change the color, thickness and font of all lines and buttons toward your liking. You can also enable or disable the display of some information in the chart when the expert is active.
After making the expert settings and apply it on the chart, expert control buttons will appear as shown below.
Default mode of control buttons is set on "paused" and "off". If we want the expert to start working, by double-clicking on the Paused button, it will change to Active and the expert will start positioning with the specified settings.
It is better to always have this button in Paused mode when we want to adjust the expert, to prevent unwanted positioning.
The next button (default set on Off ) is related to the type of positions. By clicking on the button you can select positioning modes: long , short , & both.
We recommend that you set the positioning to long when you expect a bullish market according to the analysis and to a short position when you expect a bearish market.
By selecting any of these options, the line, stop loss and take profit will appear in the chart. You can use the mouse to set the trend line and the location of the stop loss and take profit.
It should be noted that when the positioning type is set to "both" mode, automatically the opposite trend line will be stop-loss for each position, and you can only set tale profit level for each position.
If the color of the buttons confuses you, use specific colors for yourself by referring to the expert settings.
Immediately after clicking the Off button and specifying the positioning direction, a vertical line with a blue default color will appear on the chart. This line is to limit the time of expert activity. After the blue line is hit by the price candles, the expert will no longer take positions.
An alarm as shown below also shows that the expert has stopped working.
The last button is for the confirmation candle to get the position. If set to touch, the position opens at the moment when the candle hits the trend line. If it is set on close, the position will be opened after a candle closes behind the trend line.
If set to breakout, the position will be opened after second candle confirms the break of the trend line.
You must be logged in to post a comment.