Description:
- Buying Rules:
1. Ensure the fast moving average (MA) is above the slow MA.
2. Enter a trade when the closing price is lower than the opening price, setting a Take Profit (TP) at 20 pips. Note that no Stop Loss (SL) is applied initially.
Exit Strategy:
You can exit either by hitting the TP or by setting a Stop Loss at the minimum of the previous bar minus 10 pips, particularly once the minimum of the previous bar dips below the lower Price Channel line. - Martingale Element:
This strategy incorporates a Martingale approach, which means if the first trade results in a loss, the next trade will be executed with a significantly larger lot size. This is based on the assumption that there’s a slim chance of consecutive losing trades. - Selling Rules:
The selling rules are simply the opposite of the buying rules. Just a heads up – this isn’t a fully automated trading robot. It’s more of a conceptual tool for exploring trading strategies. - Timeframe:
This EA operates on daily charts using opening prices. You’ll only need to optimize the Period_Pch during testing. If you set the multiplier to 1, the system will function without using Martingale. The TP of 20 pips is generally optimal for most currency pairs. I’m eager to hear your thoughts, comments, suggestions, and critiques!
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