The Expert Advisor has a signal filter consisting of two parameters, which evaluates the overbought and oversold states of a financial instrument. It is possible to configure all essential parameters for buy and sell trades separately or to disable one of the directions for a greater flexibility in trading. To complete the EA operation correctly, the "Stop EA" button is provided. Once pressed, it raises the flag to prevent opening orders on new signals. Averaging with certain limitations is used. The EA correctly identifies its "own" orders after an unexpected shutdown of the terminal or disconnections.
Recommendations for testing
Select the maximum deposit when optimizing the parameters in the strategy tester. This allows seeing more options with results and to review the best risk/reward ratios. For a faster result, first test the BUY direction, disabling the SELL direction, then do the opposite. In the results, select the parameters with an acceptable ratio of drawdown and profitability.
The optimal deposit for trading is 10,000, the starting lot is 0.01. The H1 and H4 timeframes are more reliable. The larger the leverage provided by the broker, the more free margin will be left for opening additional orders. Make a habit of withdrawing every +50% or +100% of profit. If the signal filter is disabled, the orders will constantly be in the market.
Signal monitoring and additional information is available in the blog.
Expert Advisor Settings
- Allowed BUY (SELL) - enable or disable the trading direction.
- FirstLot - lot size of the first order.
- MultiLot - lot multiplier for the subsequent orders.
- MaxLot - the maximum lot size of one order.
- Step orders - step between orders.
- MultiStep - multiplier of step between orders.
- SignalFilter - signal filter for tracking the overbought/oversold state of the symbol.
- Subfilter - additional smoothing for SignalFilter.
- Work time - time to open the first order.
- Step trailing - step of trailing, which is activated after the cumulative take profit is achieved.
- LOTS (last orders trading system).
- Magic number.