Price Action

Price Action is a server side VTL Script expert adviser. Price Action EA is not based on indicators or patterns. At major news release, markets are highly volatile and makes rapid trend moves. The Price Action EA is designed to take advantage of this kind of volatility in markets. Price Action EA opens a trade, applies stoploss (SL) and opens a reverse trade if the stop loss is filled. Around major news release market may move in both direction, but eventually picks a direction and makes a big price wave. Run the EA after major news release, it will take advantage of the volatility at such times.

Price Action EA can be customized with the following parameters.

1-Lots1 As Double = 1
Number of lots to trade.

2-TP As Double = 100
Target for the trade in pips.

3-TrailingStop As Integer = 0
Trailing stop loss in pips. Zero means no trailing stop loss.

4-TrailingStep As Integer = 0
Steps defined in pips, the trailing stop loss is incremented.

5-Dim TradeType As Integer = 1
0 – No trades opened, 1 – start with Buy, 2 – start with sell

6-Leverage As Integer = 5
Risk reward ratio to apply stop loss. 5 means the take profit is 5 times the stop loss.

7-Symbol As String = “EUR/USD”
Symbol to trade

8-Point As Double = 0.0001
Define the point value

Usage

• Download the attachment.
• Copy it to your company VertexFX  Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Files
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.