The LE_MT4 (London explosion) EA is based on the so named strategy - London explosion. The main idea is that the first momentum often determinates the pair movement for the whole day even before opening of the session.

The EA has been tested on EURUSD, M15, leverage 1:200. Terminal time is the same as in Moscow, testing period - from March 23, 2015 to July 27, 2015.

Operation Algorithm

Time ranges of Asian and European sessions are adjusted in the EA's settings. BuyStop orders (upper border of the Asian session) and SellStop orders (lower border of the Asian session) are placed across the width of the Asian session at the beginning of the European session. StopLoss is placed automatically on the opposite border of the Asian session. If orders do not trigger till the end of the European session, they both are deleted. If one order triggers, the second one is deleted of stays untouched (adjusted in settings). If a trade does not close by TakeProfit or StopLoss till the end of the European session, then the order closes with a minimum or zero value when the price passes by the indClose parameter (indClose is recommended to be set to 0-5(50) points).

Settings

• WORK - operation by weekdays.
• Time of ASIA - beginning of the Asian session.
• Time of EURO - end of the Asian session and beginning of the European session.
• End of EURO - end of the European session.
  Note - these periods have conventional names.

Parameters (Asian session size when pending orders are placed).

• The maximum size Asian session - maximum size of the Asian session.
• The minimum size Asian session - minimum size of the Asian session.
• Risk manager
• Spaces of orders - indents from borders of the Asian session when placing pending orders.
• Calculation of a lot - manual and automated lot calculation.
• TrallingSTOP - TrallingStop settings (beginning, size and step).

Parameter orders

• Take Profit
• StopLoss (manual placing StopLoss if set to true. If set to false, StopLoss is placed automatically on the opposite border of the Asian session).
• Magic number - EA's magic number.

Addition

• Logic of work of indClose - logic of indClose operation. If set to false, indClose operates as said above, i.e. if the order is not closed till the end of the European session, it waits for closure by TakeProfit, indClose and StopLoss. When the parameter is set to true, the order is closed "as is" after the end of the European session if the order is above the indClose parameter. If the order is below the indClose parameter, it waits for closure by indClose or StopLoss.
• Color of Asian session 1 - color of the Asian session when you can place an order.
• Color of Asian session 2 - color of the Asian session when you cannot place an order.
• Color of Euro session - color of the European session.
• ON(true)/OFF(false) alert - enable/disable alerts (placing pending orders, pending order triggering, deleting pending orders)
• Slipping - slippage.