If you’re looking to enhance your trading game, let me introduce you to MACD Power. This nifty Expert Advisor (EA) utilizes two MACD indicators and comes equipped with a virtual Stop Loss and Take Profit feature. It operates seamlessly on 4-hour and daily time frames, making it a solid choice for major forex pairs and NASDAQ stocks. Plus, it performs admirably even on a 1-hour time frame!
Before diving in, here are some tips:
- Always test it out on a demo account first.
- This EA only executes trades based on the opening price of the candle!
- If you prefer not to increase the lot size after a losing trade, simply set
IncreaseFactor=0.
Key Inputs to Consider:
- Use_TP_In_Money: Activate Take Profit in monetary terms (true/false).
- TP_In_Money: Set your Take Profit in money (values: 10-100).
- Use_TP_In_Percent: Activate Take Profit in percentage (true/false).
- TP_In_Percent: Set your Take Profit in percentage (values: 10-100).
- ------------[Money Trailing Stop For Multiple Trades]----------------------
- Enable_Trailing: Activate trailing stop with monetary values (true/false).
- Take Profit In Money: (values: 25-100).
- Stop Loss In Money: (values: 1-20).
- ------------------------------------------------------------------------------------
- Exit: Close trades if the trend goes against you to manage drawdown (true/false).
- Lots: Define lot size (values: 0.01-10).
- Lots Size Exponent: (values: 1.01-2).
- IncreaseFactor: Specify how much to increase lots after a losing trade (values: 0.001-0.1).
- Stop_Loss: Set your Stop Loss (values: 30-500). Use 600 for multiple trades.
- MagicNumber: Define your magic number (values: 1-100000).
- TakeProfit: Set your Take Profit (values: 50-200). Use 600 for multiple trades.
- FastMA: Define the Fast Moving Average (values: 1-20).
- SlowMA: Define the Slow Moving Average (values: 50-200).
- Mom_Sell: Set the momentum sell trigger (values: 0.1-0.9).
- Mom_Buy: Set the momentum buy trigger (values: 0.1-0.9).
- ---------------------CONTROL DRAW DOWN-----------------------------
- UseEquityStop: (true/false).
- TotalEquityRisk: (values: 0.01-20).
- -----------------------------------------------------------------------------
- Max_Trades: (1-12).
- If you’re using only 1 trade:
- //////////////////////////////////////////////////
- USETRAILINGSTOP: Activate trailing stop (true/false).
- WHENTOTRAIL: Specify when to trail (values: 40-100).
- TRAILAMOUNT: Define your trail amount (values: 40-100).
- Distance From Candle: Set the distance from candle (values: 1-100).
- USECANDELTRAIL: Activate candle trailing stop (true/false).
- X: Number of candles (values: 1-100).
- Enable "Break Even": (true/false).
- When move "Break Even": (values: 5-30).
- How much pips move- "Break Even": (values: 5-30).
It’s a good idea to optimize this EA every few months, ensuring you use the same inputs mentioned above. You can utilize it as a hedging grid EA or as a single trade EA, depending on your strategy.
Want to perform a back test? Check out this link: Back Test Guide.
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