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The Oblomov Expert Advisor is a simple VertexFX client-side automation script used by traders to open a BUY trade on Monday (i.e. 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. 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.
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