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Maximize Gains, Minimize Risks with EA Fozzy
This robot uses the multiplier lots. It's good, but we have to set it right, not to reset the account.
About Fozzy EA
The Fozzy EA uses a strategy that combines several technical indicators to identify potential trading opportunities in the Forex market.
Here's how it works:
Timeframe: It can trade on daily charts or at 00:00 GMT (adjustable) to capture daily price movements.
RSI (Relative Strength Index): The EA uses RSI to measure the strength of price movements. When RSI is above a certain threshold, it suggests a bullish trend, and when below, it indicates a bearish trend.
Moving Average (MA): The EA also considers the relationship between RSI and a moving average. If RSI is above the MA, it may open a long (buy) position, and if RSI is below the MA, it may open a short (sell) position.
Bollinger Bands Filter: You can enable or disable this filter. If enabled, the EA checks whether both the MA and RSI are above or below the Bollinger Bands' median line before making a trade, adding an additional layer of confirmation.
Partial Profit-Taking: You can specify the number of lots to take partial profit when a certain profit level is reached. This feature allows you to secure some profit while letting the rest of the trade run.
Trailing Stop: The EA can use a trailing stop to lock in profits as the trade moves in your favor. It starts trailing after a specified profit level is reached.
Adjustable Parameters:
Use_BB_Filter: Enable or disable the Bollinger Bands filter.
Use_00_GMT: Choose whether to trade only at 00:00 GMT or on lower timeframes.
Lots: Set the lot size for your trades.
Take_Partial_Profit_Lots: Specify the lot size for partial profit-taking.
Take_Partial_Profit: Set the profit level at which partial profit is taken (set to 0 to disable).
TakeProfit: Determine the level at which the EA takes full profit.
Use_ATR_Stop: Decide whether to set the initial stop based on the Average True Range (ATR) or the high/low of the previous bar.
Use_ATR_Pct: Set the ATR percentage for stop placement.
Init_Stop_Cushion: Add a cushion to the stop levels.
TrailingStop: Enable or disable the trailing stop feature.
TrailingAct: Specify when the trailing stop should start (profit level).
TrailingStep: Set the distance at which the trailing stop follows the price.
Start_BE: Determine when to move the stop to the break-even point.
MA_Method: Choose the method for calculating the moving average.
RSIPeriod: Set the RSI period.
RSIMAPeriod: Set the MA period for RSI.
BandsPeriod: Set the Bollinger Bands period.
Alert_Me: Enable or disable alerts when a cross occurs.
Trade_Live: Choose whether to trade in live mode or for testing purposes.
Test_Info: Display additional information on the chart for testing purposes.
The Fozzy can be effective for traders who want to capture trends in the Forex market. It combines RSI, MA, and optional Bollinger Bands to make trading decisions. This EA is versatile and can be used on various currency pairs and timeframes, making it suitable for both swing and day trading strategies.
For example, if you're looking to trade daily charts with a trend-following approach, this EA can help you identify potential entry and exit points based on RSI and MA crossovers. Additionally, the partial profit-taking and trailing stop features can help you manage your trades more effectively.
Profit posts by forum members!
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Latest profit posts from the Trade Executor EA users.
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