DaleTM EA Discription.

This EA (Expert Advisor) was developed to control significant intraday level and place Market
Orders. These levels are kindly given by Trader Dale in his thread. You may use any other levels.
EA is developed for price reverse trading mode. So our profit target is on the back price move way
when price have hit the level. You may consider it as a kind of counter trend trading EA.
Below are a pair of trading examples illustrating EA work. EA prohibits opening trades before and
Red News and close opened trades before Red News to prevent big losses. EA controls Long &
Short levels and discard them in case they are already tested. EA does not allow to open trades
while Monster Move and spread widening. EA checks if the levels are entered correctly and draws
these levels.

Sell Trade example:

Buy Trade example:

Touch level event and discard level example:

EA inputs.

• Sell and Buy levels. EA has 2 Buy and 2 Sell levels. You may use none or some of them or
all. In order to activate particular level you should enter its value for ex 1.25834 and EA will
use it. Please pay attention that all active Sell levels should be above the current price at the
moment or EA start and vice versa with Buy levels. Otherwise EA may open trade
immideately after start. In case you use not all levels you should better set them = 0.0 or
another opportunity is to set them much higher than current price for Sell and much lower
than current price for Buy. But I advise to reset them to zero.
• Trading Lot — fixed constant lot according to your broker specifications.
• Trading Lot in % of Account Equity and Margin for auto. Set the % lot size to 0.0 or lot
size to 0 depending on which one you don’t want to use. Set the correct value in the one you
want to use.
• Fixed TP & Fixed SL in points. Please pay attention: all EA settings are in points
(usually 5-digit) but not pips.
• Points to correct. This input parameter allow you to correct the entry point of all the levels
if you wish. For example your broker have bigger than others spread and you are going to
enter the deal a bit earlier than Dale`s price level. Positive value of «Points to correct»
would shift Sell levels lover and Buy levels higher and wise versa with negative values. This
input make sence if you copy-paste exact levels and later want to correct them all in one
touch.
• Max spread & Max slippage. They are also in points.
• BE (BreakEven) settings are also in points. Based on reached profit.
• Ziggy`s SL moving. Lets assume we are talking about a long trade. Once a trade is entered,
and any closed 5 min bar has a closing value both above the entry point and above the high
point of the previous closed 5 min bar, then EA would move SL to the lowest point reached
after the trade was opened. So SL would be still in the negative zone but with much less
value which could be lost when the SL is triggered.
• Move SL to Reaction Point after X poits Profit. This feature may decrease your possible
loss if the price make a sudden reversal.
• Move TP to Break Even after two M5 candles closed in loss. This feature was proposed
by renda1234 here who claimed to trade this strategy for 2 years.
• Move TP to Break Even after X points loss. This feature may help you to get out from
losing trade at Break Even when price reverse.
• Close Loss Parameters Section. It allows or restrict EA to close losing deals by some
conditions. Let us describe LWR (Loss/Win Ratio) here. LWR is calculated by EA after it
has opened position. Its formula: LWR=TimeInLoss/TimeTotal.
TimeInLoss — Time spent by position in losing zone after it was opened.
TimeTotal — Total Time after position was opened.
LWR values may be from 0.0 when position is winning all the time after it was opened till
1.0 when position is in loss from the beginning. Dale Trading System is level based and
LWR is a good instrument to auto define wheather Support level became Resistance or not
and it is time to exit.
• Time (min) to close losing position. If position life time (in minutes) is more than this
parameter value and it is in loss than EA will close it by market price.
• Time (min) to close losing position by Loss/Win Ratio. If position life time (in minutes) is
more than this parameter value and it is in loss and LWR exceeds threshold value than EA
will close it by market price.
• TP reduce Parameters Section. This section controls activating triggers to reduce TP to
exit losing position with minimum loss. First we define the speed of TP reducing. It is
measured in Points per Seconds. Defaul value is 5 points (0.5 pisp) per 30 seconds which is
equal to 1 pips/minute. You may enable and adjust TP reducing by LWR, max loss or time in
loss zone.
• Points to Level. It is the first discard level parameter which defines how close should the
price come up to the level in order «touch level» event is triggered by EA.
• Points from Level. It is the second discard level parameter which defines how far should
the price move away from the level in order to discard the level if «touch level» event was
triggered by EA previously.
• Maximum number of EA orders on all pairs/charts. This feature may avoid
simultaneously opening trades on several correlated pairs at the same time.
• Red News Filter settings are obvious. Red News Filter needs FFCal indicator for proper
work which should be placed in \Metatrader 4\MQL4\Indicators folder.
• GMT Offset hour. Check the time is correct on news between Forex factory and EA. The
new EA shows time to news just like the ffcal always has. Adjust time to suit.

• Monster Move Filter is working by following rules. EA looks for current (not yet closed)
bar which is Bar[0] and the previous Bar[1] which is the last closed bar. And if one of these
bars (High-Low) is greater than user defined theshold EA prevents to open Market order.
• Minutes till Red News to close trades. EA would close all its trades by market if the
number of minutes till Red News is less or equal this value.
• Non-Trading Time. You may use it to exclude from trading some particular time/event not
mentioned in News Calendar. You have to set both equal values for start and stop time to
exclude (switch off) non-trading time.
• Currency Pair / Symbol Suffix. If you have non-standard symbols for example
«eurusd.pro» or «EURUSDmicro» containig some suffix you have to enter this suffix here.
In case standard for example «EURUSD» or «eurusd» currency pairs symply leave this field
blank.
 • Timing Section. EA operates with up to 3 Sessions. Session can be switched off if any both
negative values are entered as in above screenshot for Asian session. Timing can be ignored
by EA if both positive equal values are entered for any Session. EA would trade all 24 hours.
• Signal on Touch / Signal on Trade. You may allow or not sound alarm on these events and
use you own custom sound file.
• Push Notifications on different events are available. You may switch on/off them for Touch
event, Trade event, Tested event and Discard level event.
• Remove FFCAL indicator vLines and Messages. You may use this option if you find
FFCAL objects annoying.

I advise you to try EA with default settings, change only levels first.

EA features.

• From version 1.3 and older EA automatically draw entered active levels.
• EA first places order with zero SL & TP and then modifies TP & SL to user defined levels.
This is made to allow EA to trade an all account types: with Market Execution and Instant
Execution (better known as ECN/STP accounts) where SL & TP are prohibited when
placing the order.
• EA is printing some significant events in Experts log so you may control when each level
was touched, traded or discarded.

• EA is TF (TimeFrame) independent. It means that you may attach it to any TF chart.

• EA is working with Bid price when analyzing price levels even in case of Buy setup when
Ask price is used for entry. The reason is all bars/candles (highes, lows, opens, close) are
build by Bid prices in MT4 and there is no Ask price history.
• Do not change TF of chart EA is attached to as it cause EA reinitialisation with resetting
already tested or traded levels and breaking other logic.
• EA can trade not currency pairs but other market instruments as well. Please pay attention to
point value trading Gold for example.

P.S. I invite traders with working significant levels defining strategy for fully automated robot
mutual development. I am pretty sure that more than 90% of the rules may be programmed into EA.
All other working and making money ideas are also welcome. Please do not offer paid coding work
as I earn money from trading but not from programming.

For feedback sevan62@gmail.com