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This Coensio Swing Trader EA sounds pretty cool. It can help you trade in a smart way by using support and resistance levels, or breakouts.
Here's what it does:
It watches your trades and if some don't have a stop-loss, it adds one to protect you from big losses.
You can set the direction you want to trade by drawing a line on the chart. It's like telling the EA what you want to do.
So, it's like having a trading buddy that helps you stay safe and make good trading decisions. If anyone has tried it and found the best ways to use it, please share with us.
Coensio Swing Trader V04? Let's Dive In!
Coensio Swing Trader V04 is all about catching market swings. When it detects a trend line break, it jumps into action. If the price is above the trend line, it's all about going long (buying). If it's below, it's all about going short (selling).
How this EA Works: Imagine drawing a line on a price chart. If the price breaks above the line, it says "buy." If it breaks below, it says "sell." It's like having a smart assistant watching the charts 24/7.
Setting it Up:
First, download the "Coensio Swing Trader V04 CSTV04.mq4" file.
Open your MetaTrader 4 (MT4) trading platform.
Go to 'File' > 'Open Data Folder' > 'MQL4' > 'Experts.'
Copy and paste the downloaded file into the 'Experts' folder.
Restart your MT4 platform.
Now, let's adjust some settings:
MAGICMA: Just leave it as it is.
StopLoss: Set your preferred stop loss in pips (e.g., 50 pips).
TakeProfit: Set your take profit level in pips (e.g., 80 pips).
Lots: If you want a fixed lot size, set it here. If not, set it to 0.
RiskMax: This is your max risk per trade in percentage. Set it (e.g., 5%).
Slipage: How much slippage are you comfortable with? (e.g., 2 pips)
EntryThreshold: This is the entry threshold in pips. Keep it at 5 for now.
EnableTrailing: If you want trailing stop loss, set it to true. Otherwise, leave it as false.
TrailingStep: If trailing stop loss is enabled, set your trailing step (e.g., 5 pips).
FalseBreakClose: Decide if you want trades to close when the entry candle closes in the wrong direction (true or false).
Optimal Settings for Winning:
Currency: This EA can work with any currency pair.
Timeframe: It's flexible, but try it on H1 or H4 charts.
Minimal Balance: Start with at least $1000 in your trading account.
When using this EA, aim to catch those trend line breaks when the price convincingly crosses above or below the line.
Keep an eye on the EntryThreshold. If you see a strong move, consider increasing it to avoid getting in too early.
If you enable trailing stop, make sure to give your trades enough room to breathe with the TrailingStep.
Coensio Swing Trader V04 is your virtual trading buddy. It watches trend lines and tells you when it's a good time to buy or sell. Customize your settings, stay patient, and let it work its magic. Happy trading!
CSTV04.mq4 13.52 kb, 14 downloads since 2023-11-16
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