If you're looking to level up your trading game, the Price_Action EA is a powerful tool that utilizes a straightforward Price Action strategy. This expert advisor is equipped with features like Trailing Stop Loss and Take Profit, making it suitable for all time frames across major forex pairs and stocks in the NASDAQ.
Key Features of Price_Action EA
- Start with a demo account to get the hang of it.
- This EA makes trades based solely on the opening price of the candle!
- If you prefer to avoid increasing lot sizes after a losing trade, simply set IncreaseFactor=0.
Input Settings
- Use_TP_In_Money - Activate Take Profit in monetary values (true/false).
- TP_In_Money - Set Take Profit in monetary values (10-100).
- Use_TP_In_percent - Enable Take Profit in percentage (true/false).
- TP_In_Percent - Set Take Profit in percentage (10-100).
- Enable_Trailing - Turn on Trailing Stop in monetary terms (true/false).
- Take Profit In Money - Set this in your currency (25-200).
- Stop Loss In Money - Define your Stop Loss in currency terms (1-20).
- Exit - Close trades if the trend goes against you to manage drawdown (true/false).
- Lots - Set your lot size (0.01-1).
- Lots size Exponent - Define the exponent for lot size (1.01-2).
- IncreaseFactor - Determine how much to increase lots from total margin if a trade is lost (0.001-0.1).
- Stop_Loss - Set your Stop Loss (30-500); use 600 for multiple trades.
- MagicNumber - Assign a unique magic number (1-100000).
- TakeProfit - Define Take Profit (50-200); use 600 for multiple trades.
- FastMA - Set Fast Moving Average (1-20).
- SlowMA - Set Slow Moving Average (50-200).
- Mom_Sell - Set Momentum Sell trigger (0.1-0.9).
- Mom_Buy - Set Momentum Buy trigger (0.1-0.9).
- UseEquityStop - Enable equity stop (true/false).
- TotalEquityRisk - Set the equity risk (0.01-20).
- Max_Trades - Define the maximum number of trades (1-12).
- FractalNum - Set the number of highs and lows (1-10).
Single Trade Settings
- USETRAILINGSTOP - Enable trailing stop (true/false).
- WHENTOTRAIL - Specify when to start trailing (40-100).
- TRAILAMOUNT - Set the amount to trail (40-100).
- Distance From Candle - Set distance from the candle (1-100).
- USECANDELTRAIL - Enable candle trail (true/false).
- X - Number of candles (1-100).
- USEMOVETOBREAKEVEN - Enable break-even feature (true/false).
- WHENTOMOVETOBE - Specify when to move to break-even (1-30).
- PIPSTOMOVESL - Set how many pips to move Stop Loss (1-30).
Optimization Tips
- It's recommended to optimize this EA every few months using the exact same inputs listed above.
- This EA can function as a hedging grid system or as a single trade EA.
- For guidance on backtesting, check this link: How to Perform Back Test
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