Codebird MA
- Experts
- Version: 1.2
- Activations: 15
Codebird is proud to present 'Codebird MA', the best moving average crossover expert advisor in the market.
ECOSYSTEM OFFER - 25% Discount on FinViz Elite subscriptions, the ultimate stock screener on the internet, when you purchase this bot.
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To collect your rewards, contact us via any ONE of the following methods:
- MQL/Metatrader messaging service
- https://www.codebird.co.uk/contact-us
SUMMARY
A popular and effective formula that many successful traders and investors use, is when two different moving averages crossover, creating a signal that a trend has changed direction, either into an upward or downward trend.
This expert advisor (EA), exploits that strategy.
On the close of every bar, Codebird MA determines where the asset is in an upward (buy signal) or downward (sell signal) position. This is calculated by determining if the shorter moving average is above or below the longer moving average.
You can choose either SIMPLE, EXPONENTIAL, SMOOTHED or LINEAR WEIGHTED moving averages.
You can choose to trade direction by either BOTH, SELL ONLY or BUY ONLY.
You can choose the type of closing strategy for trades, such as closing trades when the INDICATORS dictate or choosing a conventional TAKE PROFIT and STOP LOSS.
If a BUY signal is detected, the EA will check to see if there are any OPEN BUY POSITIONS, if so it will do nothing. If there NO BUY POSITIONS, it will OPEN A BUY ORDER at your chosen LOT SIZE. It will also CLOSE ANY OPEN SELL POSITIONS.
If a SELL signal is detected, the EA will check to see if there are any OPEN SELL POSITIONS, if so it will do nothing. If there are NO SELL POSITIONS, it will OPEN A SELL ORDER at your chosen LOT SIZE. It will also CLOSE ANY OPEN BUY POSITIONS.
If on the close of the last bar, a shift from BUY to SELL or SELL to BUY has happened, it will PAINT AN ARROW on the chart in the NEW TREND DIRECTION and OPEN A POSITION in the new trend direction. CLOSING THE POSITION if one existed, in the opposite direction.
IMPORTANT-> *Determining if a position already exists, the EA uses its MAGIC NO to compare with the ORDER'S MAGIC NO. This means you can have multiple orders in multiple directions if you have multiple charts windows, regardless if its the same asset or not.*
HINT: it is common knowledge that smaller timeframes oscillate in price more, therefore its recommended to start with longer timeframes first, because fine tuning your strategy and maximising profit on smaller timeframes.
Will work on ALL TIMEFRAMES, ALL ASSETS.
GUIDE:
Allow Automatic Orders- allows automatic bot trading
Display Data- shows the value of the moving averages in top left of the chart.
Order Direction - 'Both' is unrestricted. 'BuyOnly' only opens long positions. 'Sell Only' only opens short positions.
Moving Average Type- calculation method, choose either Simple, Exponential, Smoothed or Linear Weighted
Short Moving Average- choose the interval
Long Moving Average- choose the interval
Strategy- 'IndicatorTakeStop' closes trades depending on the trend. 'ManualTakeStop' will close a trade if either take profit or stop loss is reached.
Take Profit- number of pips to set take profit if you have manual take stop set.
Stop Loss- number of pips to set stop loss if you have manual stop loss set.
Lot Size- chosen trade size
Magic Number- specific bot number, please change if you have multiple 'Codebird MA' running
Lastly, thank you so much for considering our product.
See what we do for all investors at: www.codebird.co.uk
