Say Good Luck EA

Say Good Luck EA — Trend & Momentum Trading with Dynamic Swing Stop Loss

Say Good Luck EA is a MetaTrader 5 Expert Advisor designed for traders who want a structured trend-following approach combined with momentum confirmation and dynamic risk management.

The EA identifies potential trading opportunities using a combination of Fast EMA, Slow EMA, and RSI, while automatically calculating Stop Loss based on recent market swing levels. This approach allows the Stop Loss to adapt to the current market structure rather than relying on a completely fixed price level.

Key Features

Trend & Momentum Entry

The EA uses two Exponential Moving Averages to determine the prevailing market direction:

• Fast EMA: 21

• Slow EMA: 50

• RSI Period: 14

A Buy setup is considered when the Fast EMA is above the Slow EMA and RSI confirms bullish momentum.

A Sell setup is considered when the Fast EMA is below the Slow EMA and RSI confirms bearish momentum.

The EA evaluates the strategy on the formation of a new candle and does not continuously open multiple positions for the same symbol and Magic Number.

Dynamic Swing Stop Loss

Instead of using a completely fixed Stop Loss, the EA calculates the Stop Loss from recent market structure.

For Buy positions, the EA searches for the lowest price within the configured swing lookback period.

For Sell positions, it searches for the highest price within the configured swing lookback period.

An additional minimum distance is applied to help maintain a practical Stop Loss distance from the entry price.

Risk-to-Reward Target

The Take Profit is calculated from the actual Stop Loss distance using a configurable Risk-to-Reward Ratio.

The default setting is:

Risk : Reward = 1 : 2

This means that when the default ratio is used, the potential Take Profit distance is approximately twice the calculated risk distance.

Automatic Trailing Stop

The built-in Trailing Stop can be enabled or disabled according to your preference.

The EA starts trailing after a configurable amount of floating profit and moves the Stop Loss according to the configured trailing step.

Daily Profit Target

The EA includes a Daily Profit Target feature designed to help traders control their daily trading activity.

Once the configured daily profit target is reached, the EA stops opening new trades for the remainder of the trading day.

Daily Cut Loss Protection

A configurable Daily Cut Loss is also available.

When the calculated daily result reaches the specified loss limit, the EA can automatically close positions managed by the EA and stop further trading for the day.

Spread Filter

The EA includes a maximum spread filter. If the current spread exceeds the configured limit, the EA will not open a new position.

This can help avoid entering trades during unfavorable spread conditions.

Automatic Broker & Account Adaptation

The EA automatically detects the broker's supported order filling mode and applies the appropriate setting.

It also includes account-currency handling for several common account formats, including standard accounts, cent accounts, IDR, MYR, VND, PHP, and THB.

Built-in Dashboard

Say Good Luck EA includes a simple on-chart dashboard displaying important account and trading information, including:

• Trading symbol

• Account currency

• Broker/digit information

• Balance

• Equity

• Current P/L

• Daily target

• Dynamic Swing Stop Loss status

This allows traders to monitor the EA directly from the chart.

Default Parameters

All major parameters can be adjusted according to the trader's strategy, symbol, broker conditions, and risk tolerance.

Designed for Flexible Trading

Say Good Luck EA can be configured for different trading environments and account types. Traders can adjust the lot size, indicator parameters, Stop Loss settings, Risk-to-Reward ratio, spread filter, trailing settings, and daily risk controls.

The EA is designed to provide a systematic and rule-based trading process, helping reduce emotional decision-making and maintain consistent execution.

Prop Firm Friendly Risk Management

Say Good Luck EA can also be used on Prop Firm accounts, provided that the trading conditions and EA settings comply with the specific rules of your Prop Firm.

The EA includes several features that can help traders manage risk in a Prop Firm environment:

Daily Cut Loss Protection

The EA provides a configurable Daily Cut Loss feature.

When the daily loss limit is reached, the EA can automatically close positions managed by the EA and stop opening new trades for the rest of the trading day.

This feature can help traders maintain discipline and avoid continuing to trade after reaching a predefined daily loss threshold.

Daily Profit Target

The EA also supports a configurable Daily Profit Target.

Once the configured daily target has been reached, the EA stops opening new trades for the remainder of the trading day.

This can be useful for traders who prefer to stop trading after achieving their daily objective.

Controlled Position Management

The EA is designed to manage its own positions using a dedicated Magic Number and only allows one active EA position for the current symbol at a time.

This can help maintain a more controlled trading structure and avoid unnecessary position accumulation.

Dynamic Stop Loss

Every trade uses a dynamically calculated Stop Loss based on recent swing market structure.

This allows the Stop Loss to adapt to the current price structure rather than relying solely on a fixed SL value.

Spread Protection

Before opening a new trade, the EA checks the current market spread against the configured maximum spread.

If the spread is above the allowed threshold, the EA will skip the entry.

Suitable for Different Account Types

The EA can be configured with a fixed lot size and includes automatic account-currency handling for several account currencies and cent-account formats.

Important Prop Firm Notice

Prop Firm compatibility depends on the rules of the individual Prop Firm.

Before using the EA on a funded or evaluation account, traders should verify the Prop Firm's rules regarding:

• Expert Advisors (EAs)

• Automated trading

• Maximum daily loss

• Maximum overall drawdown

• Lot size restrictions

• News trading

• Overnight/weekend positions

• Scalping and hedging

• Minimum/maximum trading duration

• Maximum position exposure

The EA provides configurable risk-management features, but it does not guarantee compliance with every Prop Firm's rules and does not guarantee passing an evaluation or generating profits.

Always configure the EA according to the specific risk limits and trading conditions of your Prop Firm.

Risk Disclaimer

Trading Forex and CFDs involves a high level of risk and may not be suitable for all investors.

Past performance, backtest results, or hypothetical results do not guarantee future performance. Market conditions can change, and losses can occur.

Always perform your own testing and use appropriate risk management before trading with real funds.

Use at your own risk.