The EA is based on the Swing Trading style. Swing Trading is a trading style that tries to capture a portion of a larger move. The trading style is based on the assumption that prices rarely move in a straight line. Swing Trading EA uses multiple indicators and oscillators to identify when most likely market changes the direction, at that point it will enter the swing to get a big piece of the price movement. It will exiting the open trades when the swing is expected to be finished.
The trades will stay open for multiple days to capture a big part of the swing of the market (Price Movement). If the market is not making the expected swing yet, it will add another position at a point that it is most likely the change of direction will happen. The maximum of total trades per direction is specified in the settings.
The Swing Trading EA will open and close the trades fully automated. It works on Forex pairs, indices and gold. It might work on other markets, however, it is not tested.
It is recommended to run the EA on H4 charts only. If you use the Swing Trading EA on multiple time frames for the same pair, ensure you use different Magic Numbers for each time frame.
See performance in the picture. Back test done with default settings, 0.01 lot size.
- Magic number: Unique identifier for the trades opened by this EA. If you use the Swing Trading EA on multiple time frames for the same pair, ensure you use different Magic Numbers for each time frame.
- Fixed lot size: This lot size will be used to open trades in case Money Management is not used.
- Use Money Management: Select yes if you want to use Money Management. If no is selected, fixed lot size is used.
- Minimum lot size for each X balance: The minimum lot size is used for every value which is entered in this setting on the trading account. Eg. If you have $5000 on your trading account, and you set 1000 for this setting, 0.05 lot size will be used for EURUSD (5*0;01).
- SL in Pips: Enter the number of pips for the stop loss for each new trade. If SL is 0, no stop loss will be used. Default value is 150 pips.
- Maximum slippage (pips)
- Order comment: You can change the comments which will be added to the trades opened by the EA.
- Maximum orders: Specify the maximum amount of subsequent orders (separately for buy and sell orders).