Expert Advisor Overview and Advantages
- The strategy is based on the support and resistance breakout principle;
- The EA uses only Buy orders.
- The EA always uses Take Profit and Stop Loss.
- Multicurrency trading is supported.
- Easy of use.
- Wide choice of suitable currency pairs;
- Minimum initial deposit.
- Based on the data of two indicators (the first is RSI with a period of 14, the second one is custom built-in indicator), the EA opens a buy order and sets the Take Profit and Stop Loss levels. They are never modified and remain in one place.
- Orders are closed by the Take Profit and Stop Loss levels.
- No more than one Buy order can be opened for each pair the EA is running on.
- To start trading, drag the Expert Advisor onto the chart with recommended settings;
- I recommend using the multicurrency trading option by launching the EA on required currency pairs, setting a new value to the Magic parameter for each pair.
- Lot - the volume of market orders.
- TakeProfit - the Take Profit value in chart points.
- StopLoss - the Stop Loss value in chart points.
- Magic - market order magic number.
Recommended values of parameters
- Lot = 0.01;
- TakeProfit = 0.002;
- StopLoss = 0.002;
- Magic = 1.