Forex TEARING TRAP Expert Advisor review:
Tearing Trap Expert Advisor recommends trades in GOLD (XAUUSD) by placing Buy Stop and Sell Stop pending orders at Open Market Session as a preset parameter setting.
The recommended timeframe is H1, a pending order ranges between Buy Stop and Sell Stop according to a preset parameter setting.
At the time, Market Session EA is waiting for the break out.
- Market goes up after placing a Buy Stop and Sell Stop pending orders.
- Buy Stop is filled (becomes Buy), continue by opening Sell Limit for locking profit.
- If Sell Limit triggers (Sell), then continue with CloseBy for buy and sell orders.
- Delete Sell Stop.
- Market goes sideways after placing Buy Stop and Sell Stop.
- Buy Stop (Buy) and Sell Stop (Sell) trigger, the EA opens 2 additional Buy Stop and 2 Sell Stop orders on a distance from previous Buy and Sell specified in the parameters.
- If market goes down, there will be 1 Buy and 4 Sell orders, the EA will open 3 Buy Limit orders for locking profit.
- If 3 Buy Limit orders trigger (3 buys), Buy Stop order is deleted and Buy and Sell orders are closed using MultipleCloseBy.
- MultipleCloseBy feature availability depends on the brokerage platform. In case it is disabled, you can set the corresponding parameter to FALSE and the EA will use Grabbing for all positions.
Other scenarios consist in opening additional Buy Stop and Sell Stop orders according to the rules:
- If 3 Buys are executed, it opens 9 orders grid (Sell + Sell Stop);
- If 4 Buys are executed, it opens 12 orders grid (Sell + Sell Stop);
- and so on.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)