Requirements and specifications for your MT5 Forex trading robot
CROSSFIRE EA
1. Auto trade mode
The automated trading strategy that's been set will constantly monitor financial market prices, and trades will automatically be executed if predetermined parameters are met. The aim is to execute trades faster and more efficiently, and to take advantage of specific, technical market events.
2. Take profit and stop loss
Take profit and stop loss are trading orders that automatically close a position when the price of an asset reaches a certain level.
3. Lot size
Lot size can refer to the quantity of an item ordered, the number of units of a financial instrument bought or sold in a single transaction.
4. Trade per signal
To buy or sell a security based on a predetermined set of criteria, or trading signal.
Open position: More than just one positions. How many positions I want to open per signal.
5. Upper timeframe and lower timeframe
Upper timeframes
Also known as higher or big timeframes, these are longer periods of time, such as weekly, Daily, 4-hour and 1-hour They are used to identify major trends and provide more reliable signals.
Lower timeframes
Also known as small or low timeframes, these are shorter periods of time, such as H1, M30, M15 and M5 They are used to generate trading signals and identify optimal entry points.
6. Close by take profit true or false
When a take profit level is reached, it close by profits automatically.
7. Close by stop loss true or false
When a stop loss level is reached, it close by losses automatically.
8. Continue trade next day true or false
When the drawdown reaches the maximum allowable limit for the day, trading will halt for the remainder of the day. Trading will automatically resume at the start of the next trading day.
9. Moving average tunnel
Is a trading system that uses three moving averages to create a tunnel on a chart.
10. The relative strength index (RSI)
Is a technical indicator used in the analysis of financial markets. It is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.
11. Hidden indicator
When set to True, it will hide the visual representation of all indicators on the chart, while still allowing the strategy to calculate and execute trades based on the indicators' data in the background.
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