Hourly Rollback Expert Advisor Using the Prior Day’s Open-Close Channel

Summary

The document outlines an Expert Advisor built around a channel derived from the previous day’s prices. It describes calculating channel width from the open of bar 24 and the close of bar 1, then determining a rollback amount when the width is sufficient. The system is described as drawing the channel as a rectangle and checking for a possible trade shortly after midnight server time, provided no position is open.

The EA is specified to operate on an hourly timeframe, with that setting fixed in the code, and to disable operation on Mondays and Fridays. The description names channel width and rollback as key parameters but does not define their thresholds, explain the entry or exit rules in detail, or report test results. It is therefore a high-level strategy description rather than enough information to assess profitability, execution behavior, or risk controls.

Key ideas

• The system measures a prior-day channel using specified hourly-bar open and close prices.
• A sufficiently wide channel is used to determine a rollback amount.
• The EA is described as checking for trades shortly after midnight server time when no position is open.
• The timeframe is fixed to hourly, and trading is disabled on Mondays and Fridays.
• The description omits detailed thresholds, exit rules, and performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.