The Expert Advisor principle is simple — it is a reversal system used when the close price breaks through the average price (with the signal of the TrendTerms indicator), thus avoiding market entering during sudden non-market quotes or corrections after sharp price movements (as provided in the TrendTerms indicator). The rules are as follows. Buy in an uptrend when the price reaches the average value or the oversold area and sell in a downtrend, when the price reaches the average value or the overbought area (internal calculations of TrendTerms, it is displayed as corresponding arrows).
Use of this simple strategy minimizes losses when the market is flat or unstable. Prices in the Forex market never move straight down or straight up. There is always a market noise that distracts and confuses traders. The Favourite EA system is aimed at filtering out the market noise and keeping a trade as long as possible. The Favourite EA system provides highly reliable monitoring of the market trends, while ignoring sharp movements and market noise.
The expert system is suitable for trading on lower time frames as it ignores sudden price spikes or price correction due to reduction in the market noise around the mean value of the price. Boost your trading efficiency and be stable while everything remains shaky.
The EA works independently, it uses a built-in indicator, but you can download the indicator "TrendTerms" separately from the list of my products https://www.mql5.com/en/users/andreys/seller. To better diversify the deposit, use a multicurrency mode and select 10 currencies. Thus the risk is reduced 10 times and the critical section is also reduced by 10 times. For optimization, you can use the approximate open prices (sample settings are in comments). The Expert Advisor correctly handles errors and reliably works with a deposit of 1000 USD and higher. The Expert Advisor uses the basic concepts: breakeven, trailing stop, stop loss and take profit. Better test with the broker who provide five-digit quotes, and even better on the MetaQuotes-Demo server.
- Magic—the magic number;
- PeriodEA—period, on which the EA operates;
- Risk—risk for automatic lot calculation;
- LimitOrder—limit on the number of orders;
- tsOrderStop—trailing stop of a pending order with the additional BarsAutoTR parameter;
- StopLoss—Stop Loss, if -1, the set automatically with the additional BarsAutoSL parameter;
- kTakeProfit—ratio for calculating Take Profit based on Stop Loss;
- CriticalDD—critical drawdown;
- ttPeriod—TrendTerms indicator period;
- BarsAutoSL—number of bars for automatic stop loss;
- BarsAutoTR—number of bars for the automated trailing stop of a pending order.