It is based on Surfing strategy. DOES NOT USE MARTINGALE. The EA catches the moments when the previous candle crosses the moving average indicator and eliminates the false breakouts using the RSI+MA indicator, and at the same time analyzes the trend direction. The EA trades pending orders, which also allows to avoid false movements. If the pending order was not triggered and the chart reversed, then the EA deletes the pending order. Also, according to the strategy, the EA uses the Trailing Stop, Take profit is not placed. Experienced traders are advised to control the trading of the EA by analyzing the market. The EA also implements Money management based on the Larry Williams method (LarryWilliamsMethod). As the market changes over time, the EA should be periodically re-adjusted on the history of 2 to 3 months. The EA trades infrequently, 1 order in 3 days on average.
The EA trades on any symbol. Minimum recommended deposit is $100. The recommended timeframe is М15 – Н1. Due to the fact that the EA performs the analysis on closed bars, the testing results by opening prices are the same as the testing by all ticks. The default settings are for the EUR/USD currency pair and М15 timeframe, but, as it was mentioned before, the EA needs to be readjusted periodically.
Expert Advisor Settings
- Significantly affecting the result - prefix (1)
- Affecting the results - prefix (2)
- Slightly affecting the result - prefix (3)
- Period_MA1 - period of the moving average1 indicator (1)
- Period_MA2 - period of the moving average2 indicator (used for Trailing Stop) (2)
- Lots - order lot
- TrailingStep - distance from the price to activate the Trailing Stop (2)
- StopStep - the distance in points from High(Low) of the previous bar to open the pending order (3)
- SLStep - the distance in points from the moving average to place the SL (3)
- TakeProfitON - enables (true) or disables (false) the use TakeProfit;
- TakeProfit - TakeProfit in points;
- Shift_MA - shift of the moving average used for trend detection, i.e. the number of bars to analyze the trend (3)
- MA_Method - method for the moving average1 and moving average2 indicators (recommended to use 0 – Simple or 1 - Exponential) (1)
- TF_MA - the timeframe of the moving average for determining the trend (the timeframe to analyze the trend) (2)
- Period_MA_Long - the period of the moving average for determining the trend (2)
- Slippage - slippage in points
- Magic - magic number (when trading different currency pairs on one account, this parameter should be changed, i.e. unique for each currency pair)
- StartHour1 - trading start time
- EndHour1 - trading end time
- RSIPeriod - period of the RSI indicator (1)
- MA - the period of moving average for the RSI indicator (1)
- upRSI, downRSI - if the RSI indicator is between the value of these 2 parameters when all other conditions are met, trades will not be opened (avoids opening false trades) (1).
- StopLossHardON - enable setting fixed StopLoss (true/false)
- StopLoss - fixed StopLoss in points from the price of pending order.
- LarryWilliamsMethod - use Larry Williams money management method (false/true)
- LWrisk - risk percentage, recommended 5-20%
- LWpart - part of the deposit in percentage to be used by the EA
The values with points are specified for 4-digits, if you have 5-digits, the EA automatically recalculates all the values.
TF_MA - timeframe of the moving average used for trend detection (timeframe to analyze the trend);
upRSI,downRSI - if the RSI indicator is between the value of these 2 parameters when all other conditions are met, trades will not be opened (avoids opening false trades)
StopLossHardON - enable fixed StopLoss (true/false). StopLoss - a fixed stop loss in points from a pending order price. When enabled, SLStep parameter is deactivated. In other words, floating StopLoss (based on a Moving Average level) is replaced with a fixed one (based on a pending order price).