LAST UPDATE [ July 11, 2009 ] - PLEASE DOWNLOAD THE FILE :
- Trade will only be ONE for both trendlines
- Trendlines names changed to UPPERline and LOWERline
- Parameters for trendlines name, trading mode, ea name, magic number, now external (changable)
- You can specify which mode to trade :
- Trade inside the angle (bouncing trade) only
- Trade outside the angle (breaking trade) only
- or Both of them, like before
Introduction :
Linexcutor works by watching two trendlines, UPPERline and LOWERline. First of all, we specify the two trendlines. Then rename each of them. After that, just run the EA. The EA will open a trade on the closing or leaving a trendline. This is a semi-automatic system, where we specify the trendlines and have the EA do the rest.
Expert File : Linexcutors.mq4
How does it work :
- After specifying the proper trendlines (Linexcutor1 and 2), the EA will watch the price movement
- If price is in between both trendlines :
- when price touch upper TL (UPPERline), SELL will be opened (bounce down)
- when price touch lower TL (LOWERline), BUY will be opened (bounce up)
- If price break any of trendline, any opened bouncing trade (described above) will be close, then a new trade will be opened according to its direction
- Breaking upper TL (UPPERline) : BUY
- Breaking lower TL (LOWERline) : SELL
