Momentum Open is a completely automatic trading EA. It is a fact that market is mostly trading in range and high-power bursts are rare. These sharp movements are starting with momentum, which is a signal to trend start, increased volatility and trading volumes. We built a special algo, which seeks for such Impulse (Momentum), to signal trade entry. Momentum Open also has several filters, based on deviation from standard market volatility, so the EA can tell noise from the real trend emerging.
Momentum Open opens all trades only according to the Trend in the direction of the Impulse and don't open Reverse trades! Momentum Open is built on the Price Action principles and is measuring strength of Momentum not only by deviation from standard volatility, but also using technical indicator like RSI and ATR.
Momentum Open is designed for next currency pairs and timeframes:
- M15: AUDUSD, EURAUD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD;
- M30: AUDUSD, EURAUD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD;
- H1: AUDUSD, EURAUD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD;
All trades of Momentum Open have a Stop Loss and Take Profit, as well as Trailing Stop mechanism to protect floating profit. It's make system much more safe and stable.
Momentum Open designed for Professional traders. System is fully based at Momentum Classic (product page: https://www.mql5.com/en/market/product/25517) strategy, but unlike original version, all input parameters are opened for users, so system can be easy optimized.
Momentum Open unlike the original version, has several advantages and is more flexible. You have the opportunity not only to use the proposed sets of Settings, but also to create your own portfolios from the ones offered or optimized yourself.
Momentum Open is built on the Price Action principles and is measuring strength of Momentum not only by deviation from standard volatility, but also using technical indicator like RSI and ATR. It is a long-term investment strategy. EA can trade on any kind of broker account (ECN, STP or other) and it is not dependent on spread size, commission or slippage and provides highly stable trading performance.
- Comment - Comment for orders
- Slippage - Max size of Slippage (pips)
- GMT Shift - Shift from Default value GMT+2
- Auto Risk (Percent of Loss) - Percent of Loss from Account Balance for all orderrs by pair
- Lot Size (0 to use Auto Risk)
- Bollinger Bands Period
- Fibonacci Level for Take Profit
- Number of Orders in Group
- Timeframe to count Impulse
- Number of Bars to count Impulse
- Impulse Multiplier
- ATR Period
- Max ATR Period
- Number of bars to count Max ATR
- ATR Multiplierr
- RSI Period
- RSI Level
- Monday - true - Trade at Monday
- Tuesday - true - Trade at Tuesday
- Wednesday - true - Trade at Wednesday
- Thursday - true - Trade at Thursday
- Friday - true - Trade at Friday
- First Start - First trading session start hour
- First Stop - First trading session end hour
- Second Start - Second trading session start hour
- Second Stop - Second trading session end hour