Droidjojo Forex Strategy
- This is a EURUSD and USDJPY version in one EA, hence it has been optimized on EURUSD and USDJPY, but there is also a USDJPY version only and EURUSD version only if you were just looking for it, please see my other products.
- This only trades on daily chart window, please attach it on EURUSD Daily (D1) chart window or USDJPY Daily chart window.
Droidjojo Forex Strategy Expert Advisor uses Droidjojo Forex Indicator and combine with hedge trading strategy hence this is a swing trading + hedge trading strategy.
If you haven't familiar with Droidjojo Forex Indicator, I suggest you downloading it first from MQL4 market (keyword: Droidjojo Forex Indicator) and watch how it detects strong trend, trend reversal and ranging/choppy market.
The strategy inside the EA is quite simple, when it detects long trend (green bars) it opens buy limit and when short trend (red bars), it opens sell limit order. But when it detects ranging / choppy market, it opens reverse position, for example when the orange bar has positive value it opens sell limit order but when the orange bar has negative value it opens buy limit order.
Why we still need combining it with hedge strategy? the reason is for example when market was in long trend and buy order was still in floating negative position, suddenly price reversed. In this situation, it open both buy stop and sell stop. Wait until the price hit one of the pending order. If it hit sell stop then we did hedge long with short position. We then wait for the market direction, when it was under our open price and it detects long trend, it will close the short position (the hedge position), we got profit from this, then the price will rise so that we can close the long position and we also got profit from this.
The following is the parameters of EA
- Lots : 0.1 -> 0.1 is default lot, you can change this to micro lot 0.01 if you have a micro account or other value as you like.
- MM : true -> MM is money management, the default value is "true", hence the above lots value will not be used or not affected. So, you must change this to "false" if you want to use your own lots value.
- Risk : 5 -> the default value is 5 %. This will be used when MM is set to true. Please read the description below of how it calculate the lots value from the risk.
- MagicNumber : 1234 -> this is the default value of magic number. Please change this to other value, if you were running other EA with the same magic number.
How it calculate lots value from the risk
This is the math formula of how to get lots value from the risk,
Lots = MathFloor((AccountFreeMargin()*AccountLeverage()*Risk*Point*100)/(Ask*MarketInfo(Symbol(),MODE_LOTSIZE)*MarketInfo(Symbol(),MODE_MINLOT)))
But if Lots value is lower than the default minimum lots, then the lots value will be the minimum lots.
if(Lots < MarketInfo(Symbol(),MODE_MINLOT)) Lots = MarketInfo(Symbol(),MODE_MINLOT);
Please use money management or set MM value to true, and keep the risk value not more than 10%. Don't be greedy, this is not an aggressive scalping EA but this is a long term swing trading combine with hedging strategy, hence the minimum free margin for 0.1 lot is $5000 or if you only have less than $1000 please use micro lot 0.01 lot.