TS PingPong Trader Pro
TS PingPong Trader is a simple but profitable EA.
Through the backtesting starting from 2011, it works fine with EURUSD M30 or H1 timeframe. Other currency pairs need further testing or optimization.
It checks RSI indicator for the overbought/oversold status of the currency pair. If the currency pair is oversold/overbought, it will open the long/short position accordingly.
And it supports the signal filtering by MA. You may also set the trade direction based on your own analysis.
It has options to use martingale in the EA. Although martingale looks dangerous, since we are controlling the total size of positions, the largest relative drawdown in the 8 years trading is just about 30%.
I already had a signal based on this EA: PingPongTrader EURUSD. Currently the EA is running on M30 timeframe with default parameters.
This is the Professional Version of TS PingPong Trader. It has more advanced features. Based on your own analysis of a currency pair, you may set the PingPong Trader to work only within the specified price range. If the price break out of the range, the PingPong Trader will no longer open new positions, and you may choose to whether close the existed positions or not.
With the pro version of this EA, you may choose to use it as "set and forget" EA with lower risk/profit trading. Or let it under more control with higher risk/profit trading.
Most input parameters are easy to understand by their names/descriptions, if you have questions regarding the input parameters, please visit the blog post.