Looking to spice up your trading strategy? The Stochastic Expert Advisor (EA) is a powerful tool that utilizes two Stochastic indicators and incorporates a Trailing Stop Loss and Take Profit feature. This EA works seamlessly across all time frames for major forex pairs and even stocks like NASDAQ.
Key Features of the Stochastic EA
- Test it on a demo account first! This is crucial to get a feel for how the EA operates.
- Price Action Focus: This EA only trades based on the price of the open candle, ensuring precision in your trading decisions!
- Lot Size Control: If you prefer not to increase lot sizes during losing trades, simply set IncreaseFactor=0.
Inputs Overview
- Use_TP_In_Money: Enable Take Profit in monetary terms (true/false).
- TP_In_Money: Set your Take Profit amount (values: 10-100).
- Use_TP_In_percent: Enable Take Profit in percentage (true/false).
- TP_In_Percent: Set your Take Profit percentage (values: 10-100).
- Money Trailing Stop for Multiple Trades:
- Enable_Trailing: Turn on trailing with money (true/false).
- Take Profit in Money (current currency): Set value (25-200).
- Stop Loss in Money (current currency): Set value (1-20).
- Stochastic Parameters:
- Stocbuy: Stochastic buy level (values: 1-40).
- StocSell: Stochastic sell level (values: 60-90).
- Exit: Close trades if the trend is against you to manage drawdown (true/false).
- Lots: Set lot size (values: 0.01-1).
- IncreaseFactor: Specify how much to increase lots after a losing trade (values: 0.001-0.1).
- Stop_Loss: Set Stop Loss (values: 30-500). Use 600 for Multiple Trades.
- MagicNumber: Unique identifier for trades (values: 1-100000).
- FastMA: Fast Moving Average (values: 1-20).
- SlowMA: Slow Moving Average (values: 50-200).
- Mom_Sell: Momentum sell trigger (values: 0.1-0.9).
- Mom_Buy: Momentum buy trigger (values: 0.1-0.9).
- Risk Management:
- UseEquityStop: Enable equity stop (true/false).
- TotalEquityRisk: Set equity risk (values: 0.01-20).
- Max_Trades: Specify max trades (1-12).
For those using only one trade:
- TrailingStop: Set a value from 40 to 100 to activate trailing stop loss and take profit. A value of "0" will prevent activation.
- Enable Break Even: Turn on break even feature (true/false).
- Break Even Move: Set the value for moving break even (values: 5-30).
Remember, it's a good idea to optimize this EA every few months using the inputs mentioned above. You can use it as a hedging grid EA or as a single trade EA.
Want to backtest this EA? Check out this guide: Backtesting Guide
Happy trading, and may the pips be ever in your favor!
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