This semi-automatic Expert Advisor (EA) is crafted to swiftly engage the market upon the formation of a Trap Play, ensuring optimal decision-making and timing. Given that human response times are insufficient for lower time frames, this EA bridges the gap for efficient trading.
This EA is programmed to:
- Automatically calculate the lot size, based on your account risk % per trade.
- Initiate market entry upon the formation of a Trap Play with a risk-reward ratio of 1:1 to 1:10.
- Position the stop loss just above/below the signal candle.
- Filterout signals that fail to meet the traders’ criteria.
Your task entails:
- Manually adjusting or implementing a trailing stop as price undergoes rapid acceleration to scalp the market.
- or, use the preferred risk-reward ratio.
Parameters
- Account risk per trade in % [MM] decide how much to risk per trade. The lot size will be determined by your account balance and risk %.
- Min,Signal Size filters out Trap Plays that are less than the signal size, in pips.
- Max.Signal Size filters out Trap Play that are greater than the signal size, in pips.
- Risk Reward Ratio choose your risk to reward ratio from 1:1 to 1:10. The ratio is based on the signal candles size, in pips.
- Extend Stop Loss this option allows traders to extend the stop loss further from the signal. Keep in mind that the risk to reward ratio will be affected if changed.
- Maximum Slippage allows for maximum slippage during trading.
- Magic Number unique EA identification, example 12345.
- Period decides the number of intervals the Donchian Channel will evaluate to identify Trap Plays.
- Sound Alert plays a sound on new alerts.
- Sound File Name plays your sound-file on new alerts.
- Mobile Push Notification sends a notification to your mobile device.
- Send Email Notification sends an email to your inbox.
- Pop-Up Alert notifies you directly in the MT5 terminal.
Register at Binance