The EA is based on price action and well established highs/lows pattern peculiar to the Aussie pairs with lower volatilities; no indicator is applied. Trades are executed mostly when prices are stable and trades are protected with a stop-loss and take-profit. The EA is designed for AUDNZD and AUDCAD, but can be applied to other currency pairs.
Also, the ea has an optional money management system that minimizes risk of exposure and automates lot sizing; there must be a minimum account balance of $1000 to use Manager or turn off the feature and set Lots manually.
The EA is suitable for ECN accounts since lower spreads are more favorable, it will not execute trades when spread is wider than 30 points.
Moreover, this demo and live tested system has simple settings and can handle the intricacies of the Forex market well.
EA Specifications and settings
- Currency pairs: AUDNZD,AUDCAD.
- Period: 1 minute.
- Lots: 0.01/0.1 minimum(choose wisely if you don't intend to use money manager).
- BUY: Specifies if you want the ea to take buy positions.
- SELL: Specifies if you want the ea to take sell positions.
- Zfactor: This controls the EA's trade signal responsiveness,the values are from 0 to 10.
- Manager: This feature automates Lot sizing based on available margin on account and will override the Lots setting (A minimum of $1000 is required as account balance to activate this feature when it's set to true else manual lots will be used).
- Starthour_GMT:The start time of the EA in GMT hours.
- Stophour_GMT:The stop time of the EA in GMT hours.
Demo test results can be useless but I have made a short demo video for prospective clients.
Contact me if there's any issue with the EA.
-AUDCAD is now optimized for trading.
-Added Starttime and Stoptime(in hours) as an input setting;this feature is for optimization only.
-The trade signal logic has been improved.
-The algorithm has been modified to detect unusual volatilities due to important news events.
-Added an input setting "Zfactor" which controls trade signal sensitivity.You can leave it at the default setting of 0 or use an optimum value that suits you.Other input setting remain the same and work as usual.