Description :
Sensor EA MT4 is an advanced Expert advisor for MetaTrader 4, built using the usual signals provided by Bollinger Bands Technical Indicator .
The Expert Advisor places a buy order, When price crosses above the lower band, and a sell order when price crosses below the upper band.
The Expert Advisor uses a Stop Loss and a Take profit.
The Expert Advisor settings are as follows :
( The parameters below can be set according to your trading rules. )
- StopLoss ( Stop Loss in pips)
- TakeProfit ( Take Profit in pips )
- Magic number : ( set to 616011, is the EA identifier. When running multiple instances of the same EA on one currency pair, this value should be changed for each instance )
- TradeSize : 1.0 ( Trade size )
- Maximum spread : ( set to 10)
- Maximum slippage : (set to 3, will be adjusted by the EA)
- Audibles Alerts : ( set to true)
- MaxOpenTrades : 1 ( Maximum open trades per currency pair )
- Hedging : ( Hedging mode, set to true )
Some clarification to remember :
For 5-digit brokers : 1 Point=0.00001 and 1 Pip=0.0001 => 10 Points=1 Pip
For 4-digit brokers : 1 Point=0.0001 and 1 Pip=0.0001 => 1Points=1Pip
If your account type is Netting then set Hedging mode to false.
