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price action ea
try this price action ea and show us your great resuts >>> Enjoyyyyyy
price_action_trader.mq4 10.13 kb, 62 downloads since 2017-04-07
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sorry I do not see the file of the ea i had attached i will try to upload it again
price_action_trader.mq4 10.13 kb, 20 downloads since 2017-04-07
we need backtests please, and what TF? Pairs? is it a scalper? i d like to know
thanks
Jeff
This EA operates on the MetaTrader 4 (MT4) platform, and it's not tied to a specific time frame or currency pair. That's one of its strengths; it provides flexibility to adapt to various market conditions. In terms of its strategy, it's not a scalper in the traditional sense, but it does aim to capture smaller price movements.
Here's a high-level overview of how it works:
Fixed Lot Size: The EA starts with a predefined lot size (0.01 in this case).
Distance Between Orders: It places orders at a certain distance from the current market price (200 pips away). This keeps things spaced out and reduces the risk of overtrading.
Secure Stop Loss: After an order is placed and the market moves in a favorable direction (45 pips in this case), it locks in profits by setting a protective stop loss (sl) closer to the current price (30 pips). This helps secure gains and minimize potential losses.
Profit Target: The EA also has a profit target, which, when reached, closes all open orders and starts anew. In this case, it's set at $5.
Magic Number: The EA uses a unique identifier (magic number) to distinguish its orders from other EAs or manual trades.
Basket Dollars: It keeps track of the total profit/loss of all open orders (sell and buy) and compares it to the predefined basket dollars ($5). When the target is met, it closes all orders.
Customizable Parameters: The EA provides customization options, so you can fine-tune these settings to match your risk tolerance and trading style.
price_action_trader.mq4 10.13 kb, 12 downloads since 2023-11-07
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