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RUBBERBANDS EA
This Ea works in any timeframe for any currency combine, together with gold and silver. Its logic relies on the actual fact that any value movement could accompany rebound. It opens orders in each directions (BUY & SELL) at a time at the start, then closes one in every of them at the required profit "dollar_profit" (in greenbacks per lot) and opens one order in reverse direction. in the meantime accumulated (unrealized) loss is bigger than the profit created, however once value moves back, loss decreases or turns to profit.
It closes all the outstanding orders once the required profit "sessionTP" (in greenbacks per lot) is reached, which functions as TAKEPROFIT.
The gap of the initilal orders through the closure of all outstanding orders constitutes one "session".
RUBBERBANDS_1_6.mq4 14.67 kb, 73 downloads since 2014-10-13
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About the RUBBERBANDS EA
https://mt4talk.com/viewtopic.php?pid=2115#p2115
RUBBERBANDS EA is a dynamic trading tool designed to adapt to market movements for maximizing profits. The EA automatically opens and closes trades based on specific profit targets and safety mechanisms, making it ideal for those who want to trade without constantly monitoring the markets. Its unique "Safety Net" feature minimizes risks, especially during volatile market conditions.
How this EA works:
Automatically opens BUY and SELL orders, aiming for a set profit per lot.
Utilizes target profit (TP) and stop loss (SL) settings, both for individual sessions and safety modes.
Activates in adverse conditions, adjusting trade strategies to protect your investment.
Offers various parameters like session TP/SL and safety mode settings, allowing customization according to your risk appetite.
Setting up RUBBERBANDS EA:
Download the .mq4 file for RUBBERBANDS EA.
Place it in the 'Experts' folder of your MT4 directory.
Restart MT4 and find RUBBERBANDS EA in the 'Navigator' panel.
Drag and drop it onto your desired chart.
Adjust the settings in the EA properties window before enabling automated trading.
Adjustable Parameters:
Lots: It determines the size of your trade. A higher value means a bigger trade.
dollar_profit: It's the amount of profit you want to make in dollars for each lot you trade.
sessionTP (Take Profit) and sessionSL (Stop Loss): SessionTP is the profit point at which you want to close the trade and take your earnings. SessionSL is the loss limit where you decide to stop the trade to prevent further losses.
use_safety_mode: When the market gets too wild, this mode helps to protect your investment by changing the trading strategy.
Safety Mode Parameters:
safety_start: This triggers the safety mode. It's the amount of loss in dollars per lot at which the safety strategies kick in.
safety_lots: The size of trades made while in safety mode.
safety_step: This sets the incremental loss amount in dollars per lot to adjust the safety strategy.
safety_profit: The profit target in dollars per lot when in safety mode.
safety_modeTP: Similar to sessionTP, but specifically for when you're in safety mode. It's the profit target to reach before closing trades in this mode.
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