If you’re looking to take your trading to the next level, the Coensio Swing Trader is a fantastic tool that allows you to trade semi-automatically. It’s designed for those who want to set predefined support and resistance levels or breakout points without the hassle.
This EA (Expert Advisor) automatically places orders based on the trading direction you set, making it as simple as drawing a line on your chart. Trading support/resistance and breakouts has never been this straightforward!
Getting Started with the EA:
- Start by loading the EA onto your chart and configure your preferred settings: Stop Loss, Take Profit, Lot Size, Entry Threshold, Trailing Stop Loss, and more.
- Draw your breakout or trendline on the chart by going to Insert -> Lines -> Trendline.
- Rename the trendline to indicate the direction of your trade: use "gl" for long positions and "gs" for short positions.
- Adjust your Take Profit and Stop Loss levels by moving the blue and red lines accordingly.
- For proportional risk management, set Lots to 0 and specify a Risk Max (e.g., RiskMax=2) as a percentage of your account equity based on the Stop Loss size.
- When you set FalseBreakClose to true, your order will close if the entry candle turns and closes in the opposite direction.
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