RJSteps on Moving Average
This EA uses the indicator iRJSteps for trading. The trading logic is simple: when price rises one step upwards a long signal is triggered, when price falls one level down is time to go short. Orders are opened with a TP and volume defined by parameters TakeProfit and Lots respectively.
If there are already opened orders with negative balance, the EA will adjust volume of the new order and modify the TP of the existing ones in a way that all orders of the same type will close simultaneously and the whole series will close with profit. The parameter StepCorrect set minimal distance in pips between the new order and the existing ones to activate this behavior.
If parameter StopLoss is greater than zero, the price has moved more than StopLoss pips against an opened order and a signal to trade in the opposite direction is triggered; the EA will adjust volume of the new order and set SL of the other one to close both orders at the same time and with profit.
Also, if there are Buy and Sell orders opened at the same time, all of them will be closed when overall balance is positive.
- EAComment — EA Comment.
- Magic — EA magic number.
- PeriodHMA — Averaging period for HMA.
- MethodHMA — Averaging method for HMA.
- PriceHMA — Price applied for averaging.
- StepHMA — Distance in pips for price levels.
- StepCorrect — Minimal distance in pips for compensation of orders of the same type.
- TakeProfit — Take Profit in pips.
- StopLoss — Distance in pips to open opposite orders.
- Lots — Minimal order volume.
- EquityStop — EA will stop trade if Equity falls below this level. This value is increased from earned profits.
- SecProfLevel — Percent of earned profits to be added to EquityStop parameter.
- UseDDControl — If true EA will hedge existing orders.
- MedRiskLevel — Drawdown (in percent) to activate hedging.
- LockProfits — Set to true to activate EquityStop.
- MaxSpread — EA will not open orders if spread (in pips) is greater than this value.
Being powerful and versatile, this strategy is also dangerous. Before trading, you must understand and have experience in risk and exposure management. Also it requires patience and, may be, a paradigm shift when trading. EA trades following trend and most of the time drawdown will be small, nevertheless high spikes will occur from time to time.
EA can be optimized for many pairs and timeframes. Default parameters are suitable for EURUSD on M30 and H1 timeframes.