Powerful expert advisor entering the position multiple times with tight stop loss of 10 pips in 10 pips increments. Take profit gets to be up to 12 times bigger than loss. Winning trade is therefore covering all previous loses without increasing lot size.
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Expert advisor places up to 12 pending limit orders, each at better price than previous, increasing the likelihood of price returning back to the center line. Each trade is taken in the direction of a main trend in 10 pips increments. Untriggered order are automatically closes in 48 hours.
Used forex indicators
Envelopes – envelopes are used to determine high and low of the average price. First trade (pending order) is always triggered by price moving above (sell) or below (buy) envelopes lines, providing us with slight statistical edge in our entry.
RSI. Multiple RSI is used to filter out the trend and range of the market. All trades are taken in the direction of main trend. Expert works very well with wide variety of settings for trend sensitivity.
Strategy is profitable on all types of test with many different settings.
This expert advisor was tested with following settings on 1H EURUSD. Test period: from 01.01.2013 to 01.01.2016.
Notes to inputs:
TP (1 -12) Take profit for orders from 1 to 12, with 1 being the nearest to signal point.
SL (1 -12) Stop Loss for orders from 1 to 12, with 1 being the nearest to signal point.
Filter sensitivity above 50. Sensitivity for uptrend with 51 being the most sensitive setting.
Filter sensitivity below 50. Sensitivity for downtrend with 49 being the most sensitive setting.
Slow filter period: Calculation of slow RSI filtering out the major trend.
Medium filter period: Calculation of faster RSI filtering out the medium trend.
Lotsper100. Position size used for 100 USD of equity.
Envelopes period: Calculation period of Envelopes forex indicator.
Lower settings are more sensitive. Deviation: Deviation of envelopes forex indicator
Stay Valid: Untriggered orders will stay valid for 2 days.
Alpha tradezone - Expert advisor
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.