The Forex ZigZag Zona Robot uses the “ZigZag” custom indicator, with which the EA (under the conditions noted in the screenshots) places initial pending orders:
- Buy stop – at the top of the ZigZag;
- Sell stop – at the bottom of the ZigZag.
Thus, it limits the price movement using the zone created from orders. Then the EA starts working based on the principle used in the Zona EA.
The EA features:
- trading by time;
- closing orders when reaching the profit level – in the currency or in points;
- closing orders when reaching the loss level in the deposit currency;
- disabling the EA after closing all orders by profit or loss;
- enabling trailing stop at the specified level of profit in points.
The following information about the EA is displayed on the screen:
- Magic – identification number of the EA;
- current points – current profit of the open orders in points;
- current profit – current profit of the open orders in the deposit currency;
- today profit – daily profit in the deposit currency (in the tester the net profit from the beginning of testing is displayed);
- min Distance – minimum allowed distance between BUY and SELL orders;
- Current Distance – current distance between BUY and SELL orders;
- Breakeven Point – breakeven level (calculated), in points from the outermost order.
Trading time settings are necessary for placing the first orders, that is, when it is allowed to place the first orders, and also when the trading time ends, if there are no open orders, all the pending orders are deleted. If there is at least one open order, the EA operation will be continued
- OpenHour – Trading start hour;
- OpenMinute – Trading start minute;
- CloseHour – Trading end hour;
- CloseMinute – Trading end minute.
- Magic – identification number of the EA, if Magic = 0, the EA will be able to manage the manually opened orders;
- Lots – fixed lot size only for the first orders, the minimum volume is 0,01.
Settings of the ZigZag indicator
It is not required to attach the indicator to the chart, it is enough for it to be present in the custom indicators. It uses the current timeframe, variables: Deviation=5, Backstep=3
- ExtDepth – the Depth variable of the ZigZag indicator, ranges from 5 to 100. The default value is 12.
- ZONAUSE – set to true to use the zone; set to false to not use the zone – only two first orders will be placed;
- StopLevel – distance in points, at which an opposite (instant execution) order will be placed after placing the first pending order. If StopLevel is less than min Distance, the distance between the orders will be equal to min Distance. If StopLevel=0, the orders will be placed according to the ZigZag indicator.
- BreakevenPercentage – distance from the zone borders (outermost orders) to the breakeven level as a percentage of the Current Distance (current distance between BUY and SELL orders), once the price passes this point the profit will be positive.
Settings for the closing by the total profit or loss
- TypeofClose – close orders by profit in the deposit currency – TypeofClose=1, close orders by profit in points – TypeofClose=2, close orders by profit in points or in the deposit currency – TypeofClose=3..
- CloseProfit – set true to close by the total profit, false – do not close;
- NumberOfPointsProfit – the amount of points for closing by profit;
- NumberOfMoneyProfit – the amount of currency for closing by profit;
- CloseLoss – set true to close by the total loss, false – do not close;
- NumberOfMoneyLoss – the amount of currency for closing by loss;
- OFFEaAfterClosePROF – set true to disable the EA after closing orders by profit or loss, false – do not disable.
Settings for trailing stop by the total profit
- TrailTotalProfitUSE – set true to use trailing stop, set false not to use;
- LevelProfit – profit level in points to activate trailing stop;
- TrailingStop – trailing stop distance.
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)