The News Expert Advisor is a powerful V T L Expert Advisor for Vertex F X trading system.
The objective of this Expert Advisor is to open trades in the direction of a breakout and then protect these trades once profitable.
If there are multiple trades, it protects them when they are in profit.
When the Expert Advisor is started, it first checks if there are any open positions or pending orders.
If yes, it then proceeds to manage these open positions.
If there are no open positions, or pending orders, the Expert Advisor places a BUY-STOP order at the distance of Step points above the current Ask price, and a SELL-STOP order at distance of Step points below the current Bid price.
The stop-loss is set to parameter Stoplosspoints, and the profit-target is set to parameter Takeprofitpoints respectively.
It then waits for the pending orders to be executed.
Once a trade is opened, the Expert Advisor employs trailing stop mechanism to protect profitable trades.
This is done using the parameter Trailing Start, Trailing Stop, and Step Trail.
Finally, the NoLoss and MinProfitNoLoss mechanism is employed to protect multiple trades. If the MinProfitNoLoss is set and when the profit of all open trades reaches this level then the stop-loss is moved to the entry price.
In case of losing trades, the profit-target is moved to the entry price.
Thus by employing this unique strategy, the Expert Advisor trades price breakouts, and then protects the trades when profitable.
It’s always advised to use any EA or Indicator on Demo account first and use it on live account after confirmation of the desired results of the EA or Indicator.
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