This expert used two MACD with different calculation period to properly identify existing major trend. Following entry is calculated based on RSI. Expert advisor takes advantage of universal trailing stop that is being adjusted after each candle close.
Used indicators:
MACD (520,240 and 100,50). Two indicators with different period will identify tend. Slower one identifies major trend on our timefrmae while faster helps us to avoid entering trend before its reversal, as it reacts faster to any change of momentum. This expert uses only histogram of MACD.
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RSI: Short trades are entered at the 70 line while long at 30 line. always in the direction of trend.
Trailing stop. Is placed behind every closed candle high for short positions, and low for long positions. It is possible to adjust distance between candle low/high and trailed stop.
All parameters can be adjusted to better suit different currency pairs and timeframes as it was designed for 1 h chart.
Test results: EURUSD 1H from 01.01.2013 to 01.01.2016.
Notes to inputs
Take profit points: Take profit for orders
Candle points: Minimum size of signal candle
Stop loss points: Stop Loss for orders
beta MACD fast EMA 2: secondary MACD fast period calculation
beta MACD slow EMA 2:secondary MACD slow period calculation
alpha MACD fast EMA : primary MACD fast period calculation
alpha MACD slow EMA: primary MACD slow period calculation
rsi signalperiod: Calculation period for RSI indicator - signal
extra deviation: reserve between last candle low/high ans trailing stop placement
Lotsper1000. Position size used for 1000 USD of equity.
RSI signal period: Calculation period of signal RSI forex indicator.
UseMM: True setting will ulock automatic money management.
Lots: Position size - manual setting when UseMM is disabled
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.
