Price Action X2
This EA creates Buy and Sell orders based on some price action principles.
Basically it is not martingale or grid and trades just one trade at a time with a trailing stop and a stop loss based on percentage of equity risk.
It accepts 4-digit and 5-digit brokers.
It does not work on the calculation modes that are not Forex. So it will work only on Forex symbols.
The default set is for EURUSD H1 and I recommend to test the EA on that symbol first. Other symbols require optimization and the user can use them at his/her own risk.
The EA is price action based, does not use grid or martingale. It has money management and risk calculation, as well as Max DD StopLoss.
It can work on Micro and Standard or Cent accounts with main Forex symbols.
It is recommended to have low spread, fast STP or ECN execution. Although a few milliseconds will not affect final results, neither a few pips will.
I will do my best to provide support and sets for other symbols.
A showcase account will be set at: https://www.mql5.com/en/signals/187086
The Increasemethod recovery system can be very profitable, and at the same time very risky. It works mainly on EURUSD as this was the symbol studied to create this algorithm. But it may work on other symbols. Make sure you do not get more than two consecutive losses when testing and the recovery method will work fine.
- Magic Number: Magic number set by user for trades
- pComment: Comment for trades set by user
- Fixed Lot size: Fixed lot size for trades (not recommended)
- Money Management: If true, lot size will be proportional to account equity
- Risk per trade: The amount of risk or lot size. The proportion of account equity versus lots
- Reverse: If true the logic of entry is reversed, buy instead of sell and vice versa.
- MA Period for Entry: The algorithm uses a filter to detect trend using MA
- Minimum Intensity of Trend: A slope value threshold to enter a trade or not
- RSImax: A RSI filter to avoid too high RSI values on Buys.
- RSImin: A RSI filter to avoid too low values of RSI on Sells.
- Trail Start: The amount of MicroPips to start trailing. For example, 450 is 45 pips.
- Trail Stop: The distance of Micropips from the actual price of the Stop Loss is set.
- Trail Step: How often to update Trail Stop. If set to 10, every time 1 pip is gained the Trail Stop updates once a bar is complete.
- Use Per cent Equity StopLoss: If true, it will close all trades when a certain percent of loss is reached. Recommended value is true.
- Max DD to Accept: The Amount of percent permitted to lose by the previous option
- Increasemethod: If true the EA will multiply lots and Max DD to accept on every loss trade by the below Factorr. The EA has proven to not have to many consecutive losses so it works as recovery method for losses.
- Factorr: By this number lots and Max DD will be multiplied if there for every consecutive loss. If there is a win lots are reset to initial values.