DuckGo v0
- Experts
- Giuseppe Pajusco
- Version: 1.0
The "duckGo" EA uses a combination of technical indicators, such as the moving average, stochastic, and average true range, to identify trading opportunities. These indicators are calculated using the closing prices of candlesticks.
The basic setup of the EA is designed for the EURGBP currency pair and runs on the H1 timeframe, which means it analyzes price data from the past 60 minutes.
The main features of the EA include:
Position sizing calculation: You can set the position sizes in two different ways. You can specify a fixed amount for the position sizes or set the position size based on a percentage of the account equity. The percentage value can be defined using the "percentageLots" parameter.
Usage of technical indicators: The EA utilizes a combination of two moving averages, a fast one (FastMa) and a slow one (SlowMa), to identify potential entry points. Additionally, it uses the stochastic (STOCK) indicator to confirm the trading signals generated by the moving averages.
Position management: The EA places buy or sell orders based on the signals generated by the technical indicators. To set the stop loss and take profit levels, it uses the values of the average true range (ATR) multiplied by the parameters "atrMultiplierTp" and "atrMultiplierSl". The orders can be placed as limit orders, stop orders, or market orders depending on the market conditions.
Management of existing positions: The EA periodically monitors the open positions and closes them if the price reaches the specified take profit or stop loss level. Additionally, for optimal position sizing management, it is recommended to use a capital of at least $300 for each microlot (0.01 lot). This allows maintaining an adequate level of available margin in the account and properly managing the open trades. However, it is advised to carefully evaluate your risk profile and adjust the position sizes according to your preferences and financial situation.
For additional Expert Advisors developed by the author, it is recommended to visit the author's page at https://www.mql5.com. There, you can find a wide selection of other EAs that may meet your trading needs.
