Thread: EA NEWS – Vertex FX Indicator Expert Advisor

The EA News is an innovative breakout based trading system implemented as a client-side VTL script. When the script is started, it places a BUY-STOP order at STEP_VALUE points above the current Ask price, and a SELL-STOP order at STEP_VALUE points below the current Bid price.

A One-Cancels-Other (OCO) mechanism is implemented - so if the pending BUY-STOP order is executed, then the pending SELL-STOP order is deleted, and likewise, if the pending SELL-STOP order is executed, then the pending BUY-STOP order is deleted.
Once a position is open, it is tracked through multiple levels of protection. An initial stop-loss and take-profit is set by the STOPLOSS_POINTS and TAKEPROFIT_POINTS parameters respectively.
A trailing stop is employed one the position is in profit of TRAILINGSTART_POINTS, and it trails by a distance of TRAILINGSTOP_POINTS. The trailing stop is incremented by by STEPTRAIL_POINTS.
If the NO_LOSS value is set greater than zero, then when the open PL of all open trades reaches this level, the then stop-loss is moved to break-even.
This Expert Advisor does not open trades if any trades or pending orders are already present.