Tesla ONE EA and indicator works with the most probable combination to predict where the trend is going.
It uses a special combination of Exclusive Tesla Power trend percentage, Multi-timeframe Moving Averages and Candle Stick Price Action changes formula.
It is based on the current feed and is updated each coming tick.
The EA opens an order in the best setup moment in the added chart. It automatically manages stop loss and take profits values, you just have to configure your risk management and the "window time" parameters to make the EA active in that range and open orders.
- MagicNumber: 111. If you are going to use this EA on separate currency pairs at the same time, please change the MagicNumber to something unique for each currency pair.
- StopLoss: 0. The EA manages this value automatically. You do not need to change it, at least till you find another way of using the EA.
- TakeProfit: 500. The backtests and higher profits results have the EA with this value of 500 from the beginning of 2015. Please try backtesting and/or demo account to understand how the EA assigns TakeProfit values in opened orders.
- Lots: 0.1. This value works with MaximumRisk. Please try backtesting and/or demo account to understand how the EA assigns lots quantity for orders.
- MaximumRisk: 0.1. 0.1 means that you risk 10% of your account balance. The parameter works in combination with Lots value. Please try backtesting and/or demo account to understand how the EA assigns lots quantity for orders.
- Tesla Power % minimum: 50. The default value is 50%. From 0 to 49% - trends are still not strong to select a direction. 50 to 75% - good moment to setup orders. More than 75% - trends have already moved quite far.
- Open Orders with pair Spread: 15. Only open orders with pairs having less spread than the parameter value.
- Use Only Window Time below: TRUE. If FALSE, the EA is active to open orders all the time. If TRUE, the EA is only active and opens orders in Window Time operation. You need to configure time ranges depending on your broker time. You can see the broker time in the top left corner of your chart screen if you add the EA on it.
- WindowStartHour: 12.31. Recommended value in hour and minutes. 90 min after London Market opens. This value is very important and uses your broker time.
- WindowEndHours: 13.01. The hour when Window Time Operation of the EA closes and it is impossible to open orders. Recommended use: 30 min later than the WindowStartHour parameter. But if you wish, you can configure any time your prefer to finish the EA operation.
You do not have to worry about a timeframe or a chart symbol to add the EA to. The EA is programmed to work on any pair or financial instrument to open orders.
You can do backtesting changing any values inside (by default, the best results were shown on GBPJPY, GBPUSD, EURUSD M15).
This EA is very accurate in very strong trend moments, not good for ranging pairs or markets, also not suitable to use when high impact news are on the move.