THE EA Plots Dynamic Bands based on the Daily ATR (Default is 5 day ATR), from the low and the high of a currency pair.
I.e. Let us say the session begings at 17:00 and the 5 Day ATR on the EU is 135
Then the Bands are plotted at Low + ATR; and High - ATR.
Now the EA waits for price to penetrate through the Band.
Between the EA Look for a trade Start and Stop Time (Defult is 16:00 and 19:00 respectively)
Once the EA has penetrated the bands the EA waits for a pullback , Normally 15% of the ATR.
In Our Case 15% of 135 or 20.5 pips.
Now After the Pullback is reached we look to trade in the direction of the pullback. However we wait for a % retracement of the pullback (Default is 78.6%)
In Our case after a Pullback is made of over 20.5 pips we wait for the retracement of the pullback to enter a trade in the direction of the pullback.
Stop on the other side of the high/low. * a Stop Expansion factor.
i.e. let us say our stop is 10 Pip, a stop expansion factor of 2 will make it 20
TP 1:1 or multimples there off
EXIt trade at SL, TP or exit trade time