Introducing the 10Pips EA
The 10Pips EA is designed to help traders capture quick pips in the forex market using a straightforward strategy involving two moving averages. This Expert Advisor (EA) is particularly effective on the 1-hour timeframe, making it a solid choice for major forex pairs and stocks listed on NASDAQ.
Key Features of 10Pips EA
- Start with a Demo: Always test the EA on a demo account first to understand its performance.
- Open Candle Trading: This EA operates solely on the price of the open candle, ensuring a consistent approach.
- Risk Management: If you prefer not to increase lot sizes after a loss, simply set the IncreaseFactor to 0.
Input Settings
Here’s a breakdown of the inputs you can customize:
- Use_TP_In_Money: Activate Take Profit in money (true/false).
- TP_In_Money: Set Take Profit in money (values: 10-100).
- Use_TP_In_percent: Activate Take Profit in percentage (true/false).
- TP_In_Percent: Set Take Profit in percentage (values: 10-100).
- Enable_Trailing: Activate trailing stop with money (true/false).
- Take Profit In Money: Define the range (values: 25-200).
- Stop Loss In Money: Set your stop loss (values: 1-20).
- BarsToCount: Specify how many bars to count (values: 1-100).
- Exit: Close trades if the trend goes against you (true/false).
- Lots: Define lot size (values: 0.01-1).
- Stop_Loss: Set a stop loss (values: 30-500).
- MagicNumber: Assign a magic number for your trades (values: 1-100000).
Tips for Optimization
To maximize the effectiveness of the 10Pips EA:
- Optimize the EA every few months using the same parameters mentioned above.
- Consider using it as a hedging grid EA or as a single trade EA depending on your trading style.
- For backtesting, check out this backtesting guide.
With the right approach and understanding, the 10Pips EA can be a valuable addition to your trading toolkit. Happy trading!
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