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Forex Fraus for M1 Chart is a VertexFX VTL client-side Expert Advisor based on the Williams %R indicator that identifies market reversals and
trades based on these market reversals.
The basic idea behind this indicator is that it opens a BUY trade when the Williams %R indicator is in oversold mode (greater than -99.9), and open a
SELL trade when the Williams %R indicator is in overbought mode (less than -0.1).
At the close of each candle, this Expert Advisor determines whether the Williams %R is overbought or oversold. If it is overbought, and an open SELL
position does not already exist, it opens a SELL trade. The stop-loss and take-profit is set to STPLOSS and TKPROFIT respectively. If the Expert
Advisor is configured for trailing-stop ( Parameter PROFITTRAILING = True), then a trailing-stop is applied using the Parameter TRAILINGSTOP
and Parameter TRAILINGSTEP parameters respectively.
The Expert Advisor can be configured to trade during specific hours of the day (trading session), by setting Parameter TME to TRUE, and configuring
Parameter STARTIME and Parameter STOPTIME r[You must be registered and logged in to see this image.]espectively.
If Parameter ALLPOSITIONS is set to TRUE, the exit criteria using stop-loss, take-profit and trailing-stop is applied to open positions of all symbols
and not just the current symbol. However, it should be noted that the entry rules apply to the current chart symbol only even if Parameter
ALLPOSITIONS is set to TRUE.
trades based on these market reversals.
The basic idea behind this indicator is that it opens a BUY trade when the Williams %R indicator is in oversold mode (greater than -99.9), and open a
SELL trade when the Williams %R indicator is in overbought mode (less than -0.1).
At the close of each candle, this Expert Advisor determines whether the Williams %R is overbought or oversold. If it is overbought, and an open SELL
position does not already exist, it opens a SELL trade. The stop-loss and take-profit is set to STPLOSS and TKPROFIT respectively. If the Expert
Advisor is configured for trailing-stop ( Parameter PROFITTRAILING = True), then a trailing-stop is applied using the Parameter TRAILINGSTOP
and Parameter TRAILINGSTEP parameters respectively.
The Expert Advisor can be configured to trade during specific hours of the day (trading session), by setting Parameter TME to TRUE, and configuring
Parameter STARTIME and Parameter STOPTIME r[You must be registered and logged in to see this image.]espectively.
If Parameter ALLPOSITIONS is set to TRUE, the exit criteria using stop-loss, take-profit and trailing-stop is applied to open positions of all symbols
and not just the current symbol. However, it should be noted that the entry rules apply to the current chart symbol only even if Parameter
ALLPOSITIONS is set to TRUE.
