SWING is very popular manual strategy and we decided to code it for you as Semi-automated System.
1. The Swing Robot requires the price movement to break out from a flat channel – it will look for a trend and volatility of price action on any Forex pair.
2. Once a strong upward or downward trend is seen, you can place your first trade using the Control Panel (see video instruction below)
3. Parameters of SWING:
StartLot = lot size to trade at first swing level
SwingMaxLot = The maximum limit of lot size that robot can open
SwingTakeProfit = Take Profit in Pips for each trade
SwingStopLoss = Take Profit in Pips for each trade. Also its a channel between sell and buy orders.
SwingLotExp = Size of next order in Lots. If set at 2, than the next order will be double the previous order lot size.
4. Mathematic logic. Once an order is manually opened via the Control Panel (in this example, this will be a buy order of 0.01 which we will name as #1), the EA will then manage and modify it with a SwingStopLoss (SL) of 10pips and a SwingTakeProfit (TP) of 15pips. At the SL level of this first manual buy order, the EA will automatically place a Pending Sell Stop Order (#2) with a double lot size (0.02) and apply the same SL and TP as the first order (i.e. SL=10 and TP=15)
5. Profit / loss. The EA will either;
5.1 On #1 hitting TP level the EA will cancel the Pending Sell Stop Order #2 of 0.02 and bank profits, or;
5.2 On hitting #1 SL level, the EA will open #2 and automatically place a Pending Sell Stop Order (#3) at the SL level of #2 with a double lot size (0.04) and apply the same size SL and TP.
5.3 On hitting TP of #2 the EA will bank twice the previous loss, and cancel the Pending Sell Stop Order #3 and bank profits, or;
5.4 On hitting #2 SL level, the EA will open #3 and automatically place a Pending Sell Stop Order (#4) at the SL level of #3 with a double lot size (0.08) and apply the same size SL and TP.
From there the EA will either bank profits at TP or repeat the process until a SwingTakeProfit level is reached, recovering all previous losses before in that series.
This strategy will have only 1 market order + 1 pending order (double lot size) at the same time at 1 pair.
In parameters you can also Enter Pairs for trading and manage all pairs from 1 chart (multi-pair Dashboard Panel EA)