If you're looking to elevate your trading game, the Pure Price Action EA is a solid choice. This expert advisor utilizes a straightforward 'Price Action' strategy, making it a reliable partner for trading major forex pairs and NASDAQ stocks on the 1-hour timeframe. Plus, it comes equipped with features like Trailing Stop Loss and Take Profit to help you manage your trades effectively.
Here’s what you need to know:
- Push Notifications: This EA sends push notifications directly to your mobile terminal, provided you’ve added your MetaQuotes ID in the 'Notifications' tab.
- Start with a Demo: It’s always a good idea to test it out on a demo account before diving in.
- Open Candle Trading: This EA trades only based on the price of the open candle, ensuring a disciplined approach.
- Control Lot Size: If you prefer not to increase your lot size after a losing trade, simply set "IncreaseFactor=0".
Input Parameters
- Use_TP_In_Money: Toggle Take Profit in money (true/false).
- TP_In_Money: Set Take Profit in money (values: 10-100).
- Use_TP_In_Percent: Toggle Take Profit in percentage (true/false).
- TP_In_Percent: Set Take Profit in percentage (values: 10-100).
- Enable_Trailing: Activate trailing with money (true/false).
- Trailing Stop: Use a trailing stop to secure profits (values: 25-200).
- Stop Loss: Set your stop loss in money (values: 1-20).
- Exit Strategy: Automatically close trades if the trend reverses to manage drawdown (true/false).
- Lots: Specify lot size (values: 0.01-1).
- IncreaseFactor: Determine how much to increase lot size after a loss (values: 0.001-0.1).
- MagicNumber: Assign a unique identifier for your trades (values: 1-100000).
- FastMA: Set your fast moving average (values: 1-20).
- SlowMA: Set your slow moving average (values: 50-200).
- Mom_Sell: Momentum sell trigger (values: 0.1-0.9).
- Mom_Buy: Momentum buy trigger (values: 0.1-0.9).
- Max_Trades: Define the maximum number of trades (1-12).
- TrailingStop: Set a value from 40 to 100 to activate trailing stop loss; a value of "0" disables it.
- Enable Break Even: Option to activate break-even (true/false).
- Break Even Movement: Specify how many pips to move to break even (values: 5-30).
Keep in mind that optimizing this EA every few months is crucial for maintaining its performance. You can use it as a hedging grid EA or stick to single trades based on your strategy.
For backtesting guidance, check out this link.
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