This EA trades price action around major daily support and resistance levels.  Price tends to be “sucked” into these highs and lows, and thus there are profits to be made at those zones.

This algorithm uses a SL and TP on each trade, and also uses a trailing stoploss to maximize profitable trades, and minimize the losing trades.

It will trade about 10 trades per week.

How to run the EA:

Simply open a EURUSD Daily chart, enable the “OneChartSetup” in the parameters and set your lotsize.

For low risk, I recommend using LotsizeStep = 1000 or higher.

For Medium risk, I recommend using LotsizeStep=700

For High Risk, I recommend using LotsizeStep=500.

Important: these values are based on USD/EUR accounts.  For other accounts, please convert these values to your account currency (ask me in pm if you have questions about this)

How to backtest the EA:

Run on each pair separately, M1 timeframe with the “OneChartSetup” disabled in the parameters.

Use “open prices only” or “control points” for tickquality.  The EA doesn’t need “every tick” to get reliable backtest results, because of the nature of how the EA manages trades.

Ofcourse you can check yourself to see that the difference with “every tick” is minimal.

Recommended minimum balance: 400$

Parameter overview:

ShowInfoPanel: enable the infopanel on the chart
Adjustment of infopanel size: for high-resolution screens you can increase the size of the infopanel here
update infopanel during testing: recommended to disable for faster backtesting
UseOneChartSetup: enable running all pairs from a single chart
OneChartSetup -> pairs to run: set all the pairs you want to run
Use Virtual Expiration: enable if your broker doesn’t allow expiration date on pending orders
Magicnumber
comment for trades: the comment to be used on your trades
Lotsize Calculation method: choose either fixed lotsize (startlots) or automatic lotsize (using lotsizeStep)
Startlots: the manual fixed lotsize you want to run
LotsizeStep: the stepsize for lotsize increments (so LotsizeStep=500 means 0.01lots for each 500$ in the account)
Use Equity instead of Balance: which to use for lotsize calculations
OnlyUp: this will prevent lotsize decreasing after losses (for faster recovery)