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Majorex follows the daily trend. As the swings correct themselves the EA enters the trades at an optimal point. The algorithm used obeys the classical Elliot waves principle. Stoploss is based on a conservative 300 pips and trades are trailed on Parabolic SAR and Fibonacci targets. Results has been tested on EURUSD and USDCHF but suitable for any strongly trending pair.
The primary indicators used are Zigzag with default settings, Bollinger Band with settings of 50 periods and 2 standard deviations and RSI with 14 period on the daily and four hour charts for entry conditions. For monitoring ongoing positions the one hour time frames is used.
The percentage of margin parameter can be adjusted to suit your risk appetite. Although the Money_FixMargin_Percent when optimized between 2.5 and 15 yielded increasing returns but because of unexpected volatility , weekend gaps etc it recommended to use a conservative setting.
It is required to choose two time frames for the EA, a higher time frame and a lower time frame(HTF and LTF) of the ENUM_TIMEFRAMES data type. The default are PERIOD_D1 and PERIOD_H4.