Snake Catcher NETTO

Product Description

Snake Catcher NETTO is a professional forex trading expert advisor developed by an unknown developer. This code serves as a demonstration of how the Snake Catcher NETTO EA may work, and it is not the official code provided by the developer.

For detailed reviews and trading results of the official Snake Catcher NETTO EA, please visit forexroboteasy.com.

Code Details

The Snake Catcher NETTO EA is designed to trade forex based on the rate of price change and important macroeconomic news releases. Here is a breakdown of how the code works:

1. External Parameters:

   • MaxLoss: Sets the maximum loss allowed for a position.

2. OnTick() function:

   • Checks if important macroeconomic news is being released.
   • Calculates the rate of price change using the CalculateRateOfChange() function.
   • Enters a long position if the rate of change is above a certain threshold (0.5).
   • Enters a short position if the rate of change is below a certain threshold (-0.5).

3. IsImportantNewsReleased() function:

   • Placeholder function that checks if important news is released.
   • Returns true if news is released, false otherwise.

4. CalculateRateOfChange() function:

   • Placeholder function that calculates the rate of price change.
   • Returns a fixed rate of change value (0.75).

5. EnterPosition() function:

   • Enters a position based on the rate of price change.
   • Calculates the stop loss using the CalculateStopLoss() function.
   • Checks if the stop loss is within the maximum loss limit.
   • Places a stop order at a specified distance from the entry point.

6. CalculateStopLoss() function:

   • Placeholder function that calculates the stop loss based on identified local price extremes.
   • Returns a fixed stop loss value (50).

7. CalculateEntryPoint() function:

   • Placeholder function that calculates the entry point based on the rate of price change.
   • Returns a fixed entry point value (1.2000).

8. CalculateEntryDistance() function:

   • Placeholder function that calculates the entry distance based on risk management.
   • Returns a fixed entry distance value (0.0050).

9. BuyStopOrder() and SellStopOrder() functions:

   • Place buy and sell stop orders at the specified price with the stop loss.
   • Print a message to confirm the order placement.

Please note that this code is not the official code provided by the developer of the Snake Catcher NETTO EA. It is only a sample code based on the product description available at forexroboteasy.com. To find the official developer of the product and obtain the official code, please use MQL5.