Hey fellow traders! Today, I want to share some insights on the Snowies EA, a powerful tool designed for MetaTrader 4, that utilizes three key indicators to help you navigate the trading waters.
Understanding the Basics
First off, it's important to note that when you set the risk to 0, the EA will automatically determine the lot size for each trade, making it super convenient for you. If you want to trade in the opposite direction, simply set the 'reverse' option to true; otherwise, leave it as false.
| Symbol | GBPUSD (Great Britain Pound vs US Dollar) | ||||
| Period | 4 Hours (H4) from 2012.01.02 00:00 to 2012.06.01 20:00 | ||||
| Model | Every tick (the most precise method based on all available least timeframes) | ||||
| Parameters | Risk=0; Lots=1; Stop=50; TakeProfit=100; Reverse=false; MondayStartTime="00:00"; MondayEndTime="23:59"; ... | ||||
| Bars in test | 1661 | Ticks modelled | 7089055 | Modelling quality | n/a |
| Initial deposit | 10000.00 | Total net profit | 3180.60 | Gross profit | 7721.20 |
| Profit factor | 1.70 | Expected payoff | 113.59 | Absolute drawdown | 345.00 |
| Total trades | 28 | Profit trades (% of total) | 14 (50.00%) | Loss trades (% of total) | 14 (50.00%) |
Key Indicators Explained
Now, let's dive into the three indicators that make Snowies EA a robust trading system:
- 1. LWMA Crossover Signal: This indicator identifies crossovers between fast and slow LWMA (Linear Weighted Moving Averages). A downward red arrow signals a potential short trade, while an upward spring green arrow indicates a possible long trade.
- 2. Adaptive Moving Average (AMA): This indicator plots blue dots when the moving average line trends upwards and gold dots when it trends downwards. The appearance of these dots in conjunction with LWMA signals helps confirm trade entries.
- 3. FXBAY MACD: A standard MACD indicator that provides histogram data. This histogram is crucial for determining trade exits and further signals for entering trades.
Images of Indicators
LWMA Crossover Signal indicator
AMA indicator
FXBAY MACD indicator
Trading Strategies with Snowies EA
- Taking a Long Trade: Enter a long position when you see both the green arrow from LWMA and the blue dot from AMA, provided the histogram from MACD is positive.
- Exiting a Long Trade: Exit as soon as the MACD histogram hits zero or goes negative.
- Taking a Short Trade: Enter a short position if both the red arrow from LWMA and the gold dot from AMA are present, with the MACD histogram being negative.
- Exiting a Short Trade: Exit when the MACD histogram moves to zero or becomes positive.
Final Thoughts
To wrap things up, Snowies EA is a powerful ally in your trading arsenal. With the right settings and careful observation of the indicators, you can significantly enhance your trading performance.
Recommendations:
- Any feedback or suggestions for improvement are greatly appreciated.
- The EA is called Snowies EA, and it utilizes the AMA, FX-BAY MACD, and LWMA indicators.
Happy trading, and may the pips be with you!
Comments 0