Karina Scalper Advisor
The "Karina" Expert Advisor trades based on the signals of the Several Moving Average indicator and "averaging" of the open orders. The signals are filtered based on the Relative Strength Index indicator. The TakeProfit(TP) level is set when opening the first deal. If the market reverses, new orders will be opened in the direction of the first order, followed by "covering" of losing orders with profitable ones. It is recommended to have a large deposit and/or cent account in order to use this EA. It is also necessary to consider the fact that the scalping effect is achieved by setting low (up to 20 points) value for the TakeProfit parameter.
- The Several Moving Average (SeveralMA) indicator serves as the market entry signal. If all Moving Averages (MA) of the indicator are directed upwards, then it is a by signal. And if all MAs are directed downwards, then it is considered a sell signal.
- The Relative Strength Index (RSI) indicator is used as the signal filter. If the value of the RSI indicator on the higher timeframe is within the oversold area, and a buy signal comes from the SeveralMA indicator, then a buy order is opened.
- Change in the direction of market movement. In case the market changes direction after an order is opened, a new buy order will be opened.
- Optimal profit level. In case more than one order is opened, the EA calculates the breakeven level and adds the TakeProfit (TP) level to it.
A Pro or ECN (Market/Instant Execution) account with a spread size of 0 to 2 points is recommended for the correct operation of the EA.
The following list describes the input parameters of the EA that can be modified and optimized:
- MAGIC (MAGIC namber) - Identifier for orders opened by the EA;
- Trade (Trade) - Parameter to enable/disable placing the first order (If the first order is not opened, the EA is considered to be disabled). If set to FALSE when there is an open first order, the EA will open orders until the price reaches an averaged value of TP;
- FLT_ON (ON Filter RSI) – If the parameter is set to FALSE, RSI indicator values are ignored;
- Lots (Initial Lot Size) - Order volume;
- LotExponent (Multiplication, odds lot) - Multiplier for the volumes of subsequent orders;
- TakeProfit (Profit level (in points)) - Take profit level;
- StopLoss (Loss level (in points)) - Stop loss level;
- Step (Distance between orders (in points)) - The minimum distance between orders;
- MaxOrders (Maximum of open orders) - The maximum number of opened orders.
You can also adjust the parameters of the Several Moving Average and Relative Strength Index according to your needs.
Parameters of the Several Moving Average indicator include MA_MODE (Definition mode), which sets the indicator use modes. It can have the following values:
- Intersection – a signal is generated when all indicator lines intersect in the same direction;
- Price – a signal is generated when the price is above or below all indicator lines;
- Directing – a signal is equal to the direction of each indictaor line;
Apart from the standard settings, the settings for overbought (Level overbought) and oversold (Level oversold) levels have been added to the RSI indicator. And also the RSI_MODE (Definition mode) parameter, it defines the usage type of the RSI indicator for calculation, which has the following options:
- NONE - Oversold area above 50, overbought area below 50;
- Levels - Oversold area above the 'Level overbought' parameter, overbought area below the 'Level oversold' parameter;
- NeutralZone - Trades will be opened only when the RSI value is between the values of 'Level overbought' and 'Level oversold' parameters;
- Trend - Determines the direction of the RSI indicator (Example: if the opening RSI (оRSI) is below the closing RSI (cRSI), the trend is ascending. If the opening RSI (оRSI) is above the closing RSI (cRSI), the trend is descending);
- TrendLevels - Uptrend based on the RSI indicator is above the 'Level overbought' parameter, the downtrend based on the RSI indicator is below the 'Level oversold' parameter;
- TrendNeutralZone - The uptrend or downtrend based on the RSI indicator is between the values of 'Level overbought' and 'Level oversold' parameters.
If RSI_Changeling (Changeling) = TRUE, the signals of the RSI indicator change.
When the parameter of Reversal is set to TRUE, indicator signals are changed to opposite.
The default parameters of the EA have not been optimized. Their further application can lead to losses and their use "out of the box" is NOT RECOMMENDED!
P.S. The information presented in the screenshots is the result of optimization.
-Enabling/disabling the opening of the first order;
-Enabling/disabling the filter of signals.
*Added MA_MODE parameter responsible for the signal type:
- Candlesticks crossing the MA lines;
- Price above/below the MA indicator;
- Direction of MA line;
*Added parameters for the signal indicator and for the reversal filter.
*Fixed errors in the description of parameters;
*Some functions have been corrected;
*Added a new function to check a limit on the number of orders.