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Binario 31 Expert Advisor for VertexFX terminal
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[QUOTE="omsaitech555, post: 111710, member: 35658"] The Binario 31 Expert Advisor is a powerful VertexFX client-side script that trades breakouts based on Exponential Moving Averages (EMA). It relies on Exponential Moving Averages to define a price band which acts as Support and Resistance levels, which when breached generates new trend breakouts. Pending SELL-STOP and BUY-STOP orders are placed just outside the Support and Resistance levels to catch potential breaks. If the price reverses after a breakout, which is termed as a false breakout, and then hits a stop-loss, the pending order of the opposite direction is triggered, thus providing another opportunity to trade the breakout in the opposite direction. In the first step it calculates the 144-period Exponential Moving Average of the High prices. This is considered the Resistance level. It then calculates the 144-period Exponential Moving Average of the Low prices. This is considered the Support level. A BUY-STOP pending order is placed at a distance of PIP_DIFFERENCE above the Resistance. The stop-loss of this BUY-STOP pending order is one pip below the Resistance level and the take-profit is set to the TAKE_PROFIT value. If a LONG position is already open, a pending BUY-STOP order is not placed. Likewise, a SELL-STOP pending order is placed at a distance of PIP_DIFFERENCE below the Support. The stop-loss of this SELL-STOP pending order is one pip above the Resistance level, and the take profit is set to the TAKE_PROFIT value. If a SHORT position is already open, a pending SELL-STOP order is not placed. If the Support and Resistance levels change while the order(s) are pending, the entry price, stop-loss and take-profit values are adjusted accordingly. The Expert Advisor protects profitable positions with a trailing stop defined by the TRAILING_STOP parameter. [URL]http://www.hybrid-solutions.com/plugins/client-vtl-plugins/free/Binario-31.html[/URL] [/QUOTE]
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