Hi everyone,
I don’t have anything against posting EA’s found on other groups or forums because I do believe in the value of sharing. I have done that myself a couple of times, but every time I always quoted the author of the code and the group from which it was found, at least when this data is available inside the code. This is just a remark and by no means a complaint, but from an ethical point of view it is only a small but fair contribution to all the coders who freely and gladly share their work.
This said, just a quick explanation on what this ea can do.
- You can use it for baby sitting manually opened positions. In that case it will check and immediately fill SL and TP if you didn’t fill that already at the time you placed your trade. It will trail your position by any amount of pips, but also scale out multi lot positions closing them partially every xx pips as well as secure your positions to any breakeven level you want.
- You can use it as a range breakout expert during low volume / quiet market consolidation periods. In that case it will put pending buy and sell orders xx pips above and below price and if a position is triggered you can either have the ea remove the opposite pending order or keep it also. Of course all the functions on trailing, breakeven and partial profits take out will also kick in.
All order management here is done by the ea.
- You can use it as a straddle EA for news events. In that case you can specify how long before news release you want it to place the 2 pending orders so we get rid of spread widening issues or platform freeze problem. The ea will take it from there and it will start adjusting these 2 pending orders, keeping them at the same initial distance above and below price as price moves. This will be done every minute until x minutes before the event.
As Dave said, everything is more than documented inside the code, with detailed explanations and examples on every parameter and every mechanism.

I hope it will be valuable. As usual, use it at your own risk. Demo trade first so you get acquainted with all the settings and how it works.

Yannis

Edit: just saw your post Dave. Market was dead last night when i "fixed" the bug so i couldn't check it. I am going to as soon as possible and update version.
Thanks for your feedback.