News Expert Advisor

The News Expert Adviser is a powerful VTL Expert Adviser for VertexFX trading system. The objective of this Expert Adviser is to enter trades in the direction of a breakout and then protect these trades once profitable. If there are multiple trades, it protects them when profitable.

When the Expert Adviser 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 Adviser 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 Stoplosspoints, and the profit-target is set to Takeprofitpoints respectively. It then waits for the pending orders to be executed.

Once a trade is opened, the Expert Adviser employs trailing stop mechanism to protect profitable trades. This is done using the TrailingStart, TrailingStop, and StepTrailparameters.

Finally, the NoLoss and MinProfitNoLoss mechanism is employed to protect multiple trades. If the MinProfitNoLossis set, 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 Adviser trades price breakouts, and then protects the trades when profitable.

Configurable Inputs:

1. Stoploss – The stop-loss of the trade in points opened by this Expert Adviser. If this value is 0, then a stop-loss is not applied to the trade.
2. Takeprofit – The profit-target of the trade in points opened by this Expert Advisor. If this value is 0, then a profit-target is not applied to this Expert Adviser.
3. TrailingStop – The number of points by which the stop trails the current price once the trailing stop feature is enabled. If the trailing stop feature is enabled then this value should be less than the TrailingStart value.
4. TrailingStart – The number of points a trade must be in profit after which the trailing stop feature is enabled. For example, if this value is 100, then the trailing stop feature is enabled once the trade is 100 points in profit. The stop then trails the current price by TrailingStop value, and it moves by StepTrail points.If this value is 0, then the trailing stop feature is not enabled.
5. StepTrail – The number of points by which the stop is moved once the trailing stop feature is enabled.
6. NoLoss – Specifies the amount in terminal currency which when reached, then the stop-loss of all open trades generated by the Expert Adviser is moved to entry price.
7. MinProfitNoLoss – The minimum profit target in terminal currency of all open trades combined.
8. Magic – The magic (unique) number used to identify trades opened by this Expert Adviser.
9. Step – The number of points from the current Bid and Ask prices where the initial BUY-STOP and SELL-STOP pending orders are placed.
10. Lot – The lot size of each trade opened by this Expert Adviser.

Usage

• Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
• Copy it to your company VertexFX Local VTL Files folder i.e. C:ProgramDataVertexFX Client Terminals”Company name”VTL10Local VTL Scripts
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.