The Oblomov Expert Advisor is a simple automation script used by traders to open a BUY trade on Monday (at the start of the trading week) based on the level of previous candle’s pivot.It is especially useful for traders who trade stocks in the BUY direction based on Daily and Weekly pivot levels.
A BUY trade is opened on Monday at the specified OpenTime hour (e.g. 10 a.m.) if the open price of the current candle is above the typical price of the previous (closed) candle. The typical price is calculated as the average of High, Low and Close of the previous closed candle. For example, if the previous candle’s High, Low and Close are 1.2090, 1.2020 and 1.2050 respectively, and the OpenTime is set to 10, then a BUY trade is opened on Monday if the 10 a.m. candle opens above 1.1447 (average of 1.2090, 1.2020 and 1.2050). The trade is protected by the StopLoss and TakeProfit parameters.
The lot-size can be set to either fixed lots, or calculated dynamically. If the value of Lots parameter is set to a valid (non-zero) value, the trade is opened with a fixed lot-size.
On the contrary, if the value of Lots parameter is set to zero, then the dynamic lot-size is calculated based on the current Account Balance. If the current Account Balance is less than InitEquity, then the lot-size is set to minimum allowed lot-size by the broker. If the current Account Balance is equal to or greater than InitEquity, the lot-size is set to InitLots, and for every additional amount of DeltaEquity in the Account Balance the lot-size is increment by DeltaLots. For example, if InitEquity is set to 500, InitLots set to 0.1, DeltaEquity set to 200, and DeltaLotsset to 0.2, then if the Account Balance is $1000, then the dynamic lot size is calculated as 0.5 lots.
If a trade is already open, the Expert Advisor does not place a trade. This Expert Advisor does not place SHORT (SELL) trades.
Configurable Inputs in Oblomov Expert Advisor
- Lots – The default lot-size of each trade. If this value is set to 0, then the Expert Advisor calculates the dynamic lot-size based on the Account Balance, InitEquity, DeltaEquity, InitLots and DeltaLots If a non-zero valid value is specified, then that value is used as the lot-size for the trade.
- OpenTime – The hour when the trade is opened. This value should be between 0 and 23. For example if this value is set to 11, then the trade is opened at 11 a.m., if other trade conditions are met.
- StopLoss – The stop-loss of each trade in points.
- TakeProfit–The take-profit of each trade in points.
- InitEquity–The minimum initial Account Balance that is required to calculate the dynamic lot-size. If the Account Balance is equal to or greater than this value, then the lot-size is set to InitLots. For every additional DeltaEquityin the Account Balance, the lot-size is incremented by DeltaLots.
- DeltaEquity– The increment in Account Balance for which DeltaLots is added to the lot-size.
- InitLots – The initial lot-size to use when calculating the dynamic lot size based on the Account Balance.
- DeltaLots –The increment in lot-size for every increment of DeltaEquity in Account Balance.