CalmTrader is based on recognizing price patterns.
It trades patterns which were profitable in the past (over 5 years of data). Patterns are calculated based on price levels, moving average crosses, CCI and RSI indicators. Also time of day is considered. Note that the EA is not sensitive to broker GMT offset.
Each trade is independent of any others and is kept open for at most 2 hours. Trades have strict TP and SL levels which are not altered. Trades may be closed around breakeven level. No grid or martingale or any other price averaging methods are used.
The EA is trained regularly by the author so that the patterns are kept up-to-date. For this reason the EA will receive frequent updates. This Expert Advisor is trained for GBPUSD, EURUSD, USDJPY and should be run on M15 timeframe for best results. Running on any other symbol or timeframe is highly discouraged.
The EA utilizes simple money management methods. You can choose to trade fixed lots or lots based on balance.
- MagicNumber: a unique number for this expert. When running multiple experts on a single account each expert should have its own magic number. You must ensure that all experts have their own number.
- UseMM: if true the EA will choose lot sizes based on available account balance (see LotsPer100 input). If false the EA will trade fixed lots (see FixedLots input)
- LotsPer100: used only if UseMM=true. Tells the number of lots to trade for each 100 units of account balance. For example: if account balance is 2500 USD, UseMM=true, LotsPer100=0.003 then the EA will trade (2500 / 100) * 0.003 lots which is 0.075 lots (usually rounded to 0.08 lots)
- FixedLots: used only if UseMM=false. Expert will trade with this trade volume.
Note that no matter which money management method you use, the EA will obey broker trade volume limits. If the requested trade volume is lower than allowed, the EA will trade with the minimum allowed lot size. Likewise if requested trade volume is larger than allowed the EA will trade with the maximum allowed lot size. The EA will also obey lot step restrictions.
Updated settings for GBPUSD and EURUSD.