The Rapira Expert Advisor is a useful, fully automated tool calculating money management.
It works on BUYSTOP and SELLSTOP pending orders principle. Easy to set up.
- Deposit: 1000
- Instruments: EURUSD, EURGBP, GBPUSD, GBPCHF
- Risk: 10%
How the Rapira EA Works
The EA performs a range of operations: it determines levels for orders placement, automatically calculates the most appropriate lot size, moves trades to breakeven, supports and modifies them, etc.
Following technical tools are at the heart of the Rapira EA: Larry Williams' Percent Range, Moving Averages Convergence/Divergence, Moving Average of Oscillator.
All trades will be performed in the direction of the current market trend only. All other signals, which are in conflict with the trend, will be ignored.
Money Management of the Rapira EA includes 3 options:
The first option is Money Management=false: Money Management is disabled and lot size is not intentionally calculated. Trading is based on a fixed value set in Lots_NoMM.
Two other options of Money Management depend on a percentage ratio of balance/funds/risk, i.e. value in MM_RiskPrcnt.
If MM_RiskPrcnt is less or equal to 6%, the lot size is calculated using the most standard formula. The third option is the most aggressive one, when MM_RiskPrcnt exceeds 6%.
Default StopLoss parameter is equal to 0. In this case StopLoss is calculated basing on the minimum price for the previous trading day. A user can set any StopLoss level.
Main Requirements to Account Parameters
- Deposit size:
- for cent accounts: from 1 USD
- for standard dollar accounts: from 100 USD
- Recommended quotes: multi-pairs
- Trading period: Н1
- Minimum leverage: no less than 1:200
- Trading time: 24/5 continuously
- Money_Management - money management;
- MM_RiskPrcnt - permissible risk percentage (depends on Money_Management);
- Lots_NoMM - fixed lot size;
- Min_Lot, Max_Lot - minimum and maximum lot size allowed by a broker;
- TakeProfit - take profit size;
- StopLoss - stop loss size;
- TrailingStop - trailing stop size;
- Slippage - slippage;
- Magic - magic number;
- WPRperiod - Larry Williams' Percent Range indicator period