Initial Balance Expert Advisor
This Expert Advisor is designed to trade based on the initial balance of a trading session, which is defined as the first hour of market open (for example, 9:30 AM to 10:30 AM EST for the NY session). The EA identifies the highest and lowest price points reached during this initial balance period. It then executes a buy order if the price breaks above the established high, signaling bullish momentum, or a sell order if the price breaks below the low, indicating bearish sentiment.
This strategy was first developed by trading legend and author James F. Dalton in the 1980s. He is widely recognized for his work on market profile analysis, a concept that heavily influences this trading approach.
With your purchase you will receive the following:
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AMP® Initial Balance Expert Advisor Version 1 for MetaTrader 4
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AMP® Initial Balance Expert Advisor Version 1 for MetaTrader 5
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AMP® Initial Balance Expert Advisor Version 2 for MetaTrader 4
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AMP® Initial Balance Expert Advisor Version 2 for MetaTrader 5
Version 1
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Select the lot size of your trade is by a fixed volume.
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The Stop Loss is automatically at the initial balance high or low.
Example, if a long position is taken, the stop loss is placed at the
initial balance low and vice versa. -
The Take Profit is a percentage of the stop loss.
The default setting is 200%. Example: if the total pips
for the stop loss are 10 pips, the take profit will be 20 pips.
Version 2
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Select the lot size of your trade is by a set percentage of your account you wish to risk.
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The Stop Loss is measured in pips and manually set by the user.
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The Take Profit is measured in pips and manually set by the user.