Example O3: Exclusion of support and resistance when forwarding
This is not a ready-to-use trading strategy. A trading strategy requires adjustment to the timeframe and symbol, along with thorough backtesting. The example is intended as a foundation for your own custom strategy and to help you get familiar with the Expert Advisor Builder web application. To import and use an example, please follow the instructions provided here.
Description
This example excludes certain support and resistance levels from forwarding using the e.g. -2;+2 configuration. Only the second-nearest support and resistance levels are forwarded for stop loss and take profit calculations. This selective forwarding prevents using levels too close or too far from current price.
Selective level forwarding improves exit placement by filtering inappropriate levels. The nearest levels might be too close for proper risk management, while distant levels might be unrealistic.
The visual display shows all detected levels while highlighting which ones are actively forwarded. This transparency helps traders understand how the system selects exit levels from available options.
Recreate the Example
You can either import this example directly or set it up manually. To manually replicate the trading module, make sure a newly added module includes the following key settings and that the professional mode is activated:
Trade Basics
- Operation type = Long
Signal Generation - Indicators (MACD Main line)
- Signal in use = On
- Signal used for = Entry
- Selected indicator = MACD
- Line index = Main line
- Draw in chart = On
- Drawing slot = 1
Signal Generation - Indicators (MACD Signal line)
- Signal in use = On
- Signal used for = Entry
- Selected indicator = MACD
- Line index = Signal line
- Draw in chart = On
- Drawing slot = 2
Signal Generation - Indicator Combinations (MACD Main line & MACD Signal line)
- Signal in use = On
- Signal used for = Entry
- Input indicator 1 = MACD (Main line)
- Input indicator 2 = MACD (Signal line)
- Value relation = Value x cross value x
Signal Generation - Chart Analyzer
- Signal in use = On
- Signal used for = Forward
- Draw boundaries = Off
- Draw extrema = Off
- Draw supports and resistances = On
- Draw swing phase = Off
- Supports and resistances forward = -2;+2
- Support multiplier = 1.00
- Resistance multiplier = 1.00
Initial Stop Loss
- Selection = Support/resistance from chart analyzer
- Used chart analyzer = Chart Analyzer
- Minimum value in fix pips = Off
- Minimum value in rate of change = 0.00250000
- Maximum value in fix pips = Off
- Maximum value in rate of change = Off
Initial Take Profit
- Selection = Support/resistance from chart analyzer
- Used chart analyzer = Chart Analyzer
- Minimum value in fix pips = Off
- Minimum value in rate of change = 0.00300000
- Maximum value in fix pips = Off
- Maximum value in rate of change = Off
Screenshots
