Charles EA: Breakout Orders, Hedging, and Basket Recovery Features
Summary
This document describes a foreign exchange expert advisor built around breakout stop orders and hedging losing positions in an effort to close trades with an overall positive result. The version discussed adds volatility-spike entries, trend checks, hourly pivot, support, and resistance levels for adjusting take profits, and basket management intended to pair winning and losing orders. It also exposes settings for symbols, trade sizing, order limits, timeframes, margin, trailing exits, and trading hours.
The notes explain several controls and operating conditions, including broker-specific symbol names, the use of fixed lots when automatic risk sizing is disabled, and an option to increase trade frequency by using lower timeframes. Risk controls include a balance drawdown threshold, margin reserve, and optional order age limit, though the configured stop loss is disabled by default. The document provides no backtest, performance record, or market-specific evaluation; its recovery and positive-close goals are design intentions, not demonstrated outcomes. Hedging and basket exits can also leave exposure and drawdown unresolved.
Key ideas
- The EA places stop orders around breakouts and uses hedge orders to manage losing positions.
- It checks for volatility spikes and trend conditions to open additional trades.
- Hourly pivots, supports, and resistances inform take-profit adjustments for losing orders.
- Basket management seeks to close winning and losing positions together while limiting drawdown.
- Risk and execution settings include position sizing, margin, order limits, symbol names, and trading hours.
- The description offers no performance evidence, and the default configuration has no stop loss.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.