Please always read the What’s new section before you decide to perform an update
This Expert Advisor (EA) opens orders when an outbreak from an inside bar formation occurs. The default settings are recommended for GBPUSD on the H1 time frame. The EA cannot be used with netting account types.
The behavior of the EA can be explained in the following steps (please also see separate screenshot for visualization):
- Look for a trade when xx amount of inside bars has been reached.
- Exit when trailing stop or take profit has been hit.
- The formations with sell/buy lines will be drawn on the chart as well as the first ATR take profit level.
- Trend, time and spread filters.
- Possibility for take profit and stop loss based on the ATR indicator or use a risk/reward ratio (based on stop loss).
- Possibility to select between adding a fixed lot or let the system set the lot size according to risk percentage.
- Possibility to trade in a reverse way (buy when sell, sell when buy).
Please make sure that you first test the EA on a demo account and let at least 10 trades be done. Before going live please also test your setup in the strategy tester.