Momentum Averages EURUSD

Momentum Averages


THE EA WORKS ONLY ON THE EURUSD PAIR ON 15M TIMEFRAME.
If you try using it on other pairs, it will do nothing.
If you use it on another timeframe - it will not produce the same results as in the strategy tester simulation I have provided.

This EA determines a trend using a SMA on the 4H time period and then trades based on the condition UpTrend or DownTrend.
On the 15M timeframe, using the Momentum indicator it calculates averages of the values of the Momentum.

- it stores a Top average which is an average of the highest momentum values;

- a Bot average which is of the lowest Momentum values;

- a True average which is of all the Momentum Values

- a Fast Momentum average which is the same as the True average but of fewer values, making it "faster" or more responsive to change.

The trading logic is to open long positions when the Momentum value is higher than the Fast average and the Fast average is lower than the Low average,

indicating a trend reversal.

For short positions the logic is the same but reversed.

These positions are being managed on every tick, based on the established trend -

if the position is in the same direction as the trend, a trailing stop logic is employed to squeeze the most profit from it, and if the position is against the trend,

a more safe set of rules are engaged to quickly close the position and minimize loss.

The EA uses a dynamic lot size, the more money you have in the account - the bigger the volume of a single trade.
The idea is to trigger a snowball effect.

There can only be one position at a time, this EA is not meant for hedging.
The tests on the screenshots were done with 1000 EUR starting deposit, 1:30 leverage from the beginning of 2020 to the current date (7th March 2024).
Every tick based on real ticks option was used.