Morgan Expert - is not an automatic trading robot. It has no built-in trading strategies. The sole purpose of this report is the execution of transactions through the pending orders on the basis of any object on the graph: trend and horizontal lines or equidistant channels. In addition to the direct execution of the breakdown of transactions, he also performs the transaction to roll back, if you suddenly missed the point of breakdown.
The main advantage of Morgan is its ability to install and configure the pending orders in accordance with the graphical object drawing, including objects that have a slope. This makes it easy to execute transactions for such popular patterns like a triangle (ascending, descending and equilateral), channel, flag, rectangle, head and shoulders, double top, etc.
Level Break is defined as a simple touch. Morgan will not wait until the price closes above / below this line. He will put the pending orders to be executed when the price touches the first of these levels.
There are a number of input parameters that govern the work of the expert. But it can also be run immediately after installation on schedule and add graphics objects with the appropriate names. After that, the schedule objects can move freely. Expert will continue to recognize their position and accordingly change the parameters of the order. By default, the expert puts your current status in the comments of schedule.
Since graphics objects are drawn at the Bid price, expert adjusts the levels of entry, stop-loss and take-profit, adding the current value of the spread when the Ask price must be used. This action turns off the input parameters that are sent to the trading server by reducing the amount of the modified orders.
Morgan can count the size of the position based on the input parameters, the level of stop-loss and balance / surplus funds account, which is very similar to the position size calculator for MetaTrader. You can disable this feature and set a fixed size for the position of an expert.
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