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EA MeanReversion is based on rule that price tries to return to some mean value of some period. For mean value a Moving Average (MA) indicator is chosen. You can set period, averaging and applied price methods for MA. Because bullish and bearish movements behave differently you can separately enter different settings for buy and sell signals. The more the price goes away from selected MA the more the new trades opens at defined step price values and adding the defined lotsize step values (picture 1).
It is very important to keep money management rules especially when using lot increment. For low risk I recommend not to exceed overall lotsize of 0.1 lots for 500 USD, 0.2 lots for 1000 USD and so on. The minimum amount I recommend is 500 USD to use without lot increment and 1000 USD using 0.01 lot increment.
Trading Rules Variables
- Timeframe – choose time frame from dropdown menu
- MA period for buy – enter MA period for buy signal
- Start distance for buy (pips) – enter price distance in pips for the first buy position
- Step for buy (pips) – enter step distance in pips for every next buy position
- MA period for sell - enter MA period for sell signal
- Start distance for sell (pips) - enter price distance in pips for the first sell position
- Step for sell (pips) - enter step distance in pips for every next sell position
- Ma averaging method - choose method from dropdown menu
- Applied price for MA - choose method from dropdown menu
- Max positions by magic allowed – enter maximum allowable steps (positions to open) number for EA
- Max total positions allowed - enter maximum allowable positions to open on your metatrader
Position Sizing Settings
- Lot sizing explanation - If 'Is sizing on? = Yes', 'Lots' variable will be ignored
- Lots – enter start lotsize (valid if 'Is sizing on? = No'
- Step for volume – enter lot increment, e.g. 0.01, 0.02...
- Is sizing on? – choose Yes or No from dropdown menu. Yes means that the start lotsize is calculated automatically depending on balance amount
- Lot limit factor – used only when 'Is sizing on? = Yes'. The start lotsize is calculated automatically by formula (Balance amount)*(Lot limit factor)*0.0001. Value 0.1 for 1000 USD balance means to open for start 0.01 lot. Recommend values are not to exceed 0.1-0.2.
TP, SL & TS Settings
- Use Breakeven point? – choose Yes or No from dropdown menu.
- Breakeven point (pips) – enter price distance in pips which you want to keep after price has reached the trailing stop value
- Stop loss (pips) – enter stop loss value
- Take profit (pips) – enter take profit value
- Trailing stop (pips) – enter trailing stop value
EA General Settings
- Magic number – enter different number for every setup. By this number EA recognizes its trades
- Max spread (points) – enter maximum value in points of allowable spread
- Slippage (points) – enter maximum value in points of allowable slippage
- Write journal? - choose Yes or No from dropdown menu. If Yes some events are written down in Experts tab
- News from time – choose or enter time from which you don‘t want to open trades, e.g there are some important news
- News to time – choose or enter time till which you don‘t want to open trades
For now the EA is tested only for EURUSD pair H1, H4 and D1 periods. Setup files you can find in Comments tab or my telegram group.
For rebates go to https://premiumtrading.co/?ref=13525 and choose broker. You can earn up to 5% (depending on broker and trade lots) of account per month from rebates only.
Join my telegram group https://t.me/joinchat/If5gHxig3ZsLJxPtUDIsMA to discuss about EA.