EA for ESTOX Index
This EA is trading European stocks' index only ESTOX.Cash or EURSTOXX.Cash Index on 30 minutes chart only. It is using 2 indicators plus trailing order as the following:
- My own invented indicator which is showing trend lines can point to the exact dynamical support and resistance levels, it is new technique and It is for sale on mql5.com market.
- Special modified CCI indicator which is using special input variables.
- Specific trailing order. This trailing order is acting when the price goes to positive direction only. It is not acting as stop loss order if it goes to negative direction.
This Expert A have the maximum liability to open 4 sell trades and 4 buy trades at the same time as maximum open trades at once, therefore you need hedge facilities and reducing the number of lots specified in FixedLot function to control the risk.
The 3 elements are combined together to create the best strategy to trade ESTOX index to give best performance.
The main input function is
FixedLot= (From 0.01 up to 500 lots) depending on your broker lot size, this function is your number of lots (CFDs) as cash instrument (Not future instrument). I recommend to choose the number of lots equal to 1:15 as maximum leveraged use and 1:1 as minimum of leverage use. (Always calculate your risk management by choosing number of lots fits your equity) See the example.
Set up your inputs as in the screen shot window: ConfirmCross=false, LeverageUse=false and MaximumLeverageToUse=1 then fix FixedLot to the number of lots fit to your broker lot size as in 1.
The example: To know how many safe number of CFDs needed to trade ESTOX.Cash with 2k capital at current value 3,040 points: If you decide to use 15 times of the leverage use from your broker the $2000 X 15 = $30,000 divided over 3040 current value then you will get 10 CFDs is the equal leverage use 1:15 ans so on. The screenshots are giving ideal setting for trading $2,000 period from 14-Oct-2015 until 25-Oct-2016 with leveraged use power 15 or 1 : 15.
C- AllowSignal=true to receive the trades on your MT4 mobile even if the EA is not trading, it will act as trading signals generator to your mobile.
The interesting part in this EA; it will keep the open trades (Buy and Sell) until it closes them all in profits. This is why you will see most of the trades are closed in profits and profit factor more than 4. You need to be sure that your broker is allowing hedge option in EURSTOXX instrument with minimum minimum leverage use.
There is no stop loss or take profits orders. The trailing order is used well to give the best performance and minimizing the risk.
Finally, I advise you to make back strategy test on your broker data for this instrument ESTOX.Cash index before you use it in live trades. Be sure to ask your broker for the lot size if they offer the mini or the big lot size. In the above example I used the standard 1 lot = to 1 CFD. Other brokers might use 0.01 and above.
For further questions, I will answer you at the common sections or send email to email@example.com or whatsapp +971502085841, live trading signals of this EA are on twitter: @MubasherCafe