Horizontal Line Levels
This EA trades based on horizontal line levels drawn on the chart, triggering buy or sell orders when price interacts with user-defined horizontal lines. It acts as a level-based trading assistant where traders manually place horizontal lines and the EA automates order execution at those levels.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
The strategy concept is based on support and resistance horizontal levels, where traders manually draw horizontal lines on the chart as key price levels and the EA monitors price interaction with these lines to determine entries. Entry conditions trigger when price touches or breaks through a horizontal line, with buy orders placed above the line and sell orders below, depending on line attributes or naming conventions. Exit conditions typically rely on take-profit and stop-loss parameters, or may close positions when price reaches another horizontal line. Position sizing is controlled through fixed lot or risk-based dynamic lot parameters, with no martingale or grid mechanisms observed. Money management provides stop-loss and take-profit parameters but depends heavily on the trader correctly placing horizontal lines, lacking automated level generation logic. The overall strategy is highly dependent on the trader's ability to identify key price levels correctly.
Strengths
- Strategy logic is intuitive and easy to understand, trading based on support/resistance levels is a classic and effective approach
- Traders have flexible control over entry points, placing horizontal lines based on their own analysis
- Automated execution reduces human delay, placing orders quickly when price touches key levels
- Magic number support distinguishes orders, allowing coexistence with other EAs
Weaknesses
- Highly dependent on traders manually drawing horizontal lines, lacking automated level identification capability
- Default stop-loss value is 0, posing unlimited loss risk if not manually configured
- No new bar check mechanism, potentially opening duplicate positions on the same bar
- Lack of spread filter, executing trades even during wide spread conditions
- No drawdown control or maximum position limits for money management protection
Possible improvements
- Add automatic identification of key support/resistance levels using fractals or previous highs/lows
- Implement new bar check and spread filter mechanisms to prevent duplicate trades and costly entries
- Add dynamic position sizing based on account risk percentage as an alternative to fixed lots
Risk assessment
Overall risk: High risk
- Default stop-loss of 0 poses unlimited loss risk if not configured
- No new bar check may cause duplicate position openings at the same price level
- Complete reliance on trader's manual judgment of level placement, wrong judgment leads to frequent losses
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
Lots | 0.1 | Trading lot size |
StopLoss | 0 | Auto stop loss in points |
TakeProfit | 0 | Auto take profit in points |
MagicNumber | 123456 | EA magic number; 0 monitors all orders |
LinePrefix | HL_ | Horizontal line name prefix for trade line identification |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.