Hey there, fellow traders!
I'm excited to share my journey into the world of Expert Advisors (EAs) with you. After two months of learning and coding, I’m proud to present my first EA, EnvelopeMA version 0.0.1.beta. It's designed to help you trade more efficiently, and I’d say it’s “almost free of errors”!
Currently, this EA focuses on short positions only. I plan to add a long position version once I’ve fine-tuned the short trades. It’s optimized for the 15-minute chart (M15), as I found that there aren't many sell stop positions on higher timeframes (M30, H1+), and lower timeframes can get tricky with wider spreads.
Here's how it works: it places sell stop pending orders when the Ask price and two moving averages align within the low period envelope bands. This order remains active for about 1 hour and 15 minutes. It exits trades when three different Parabolic SAR points fall below the Ask price, and there’s a crossover of moving averages (the signal moving average crosses the fast moving average from below).
Key Features:
- Stop Loss (SL) and Take Profit (TP): Both are configurable and optional.
- Risk Management: I’m planning to integrate risk management modules and enhanced exit strategies down the line.
- Martingale Strategy: While there are ways to implement a Martingale strategy for potential higher returns, my focus right now is on refining the sell signals.
For those curious about the input parameters, here’s a quick rundown:
- AguardaCompletarCandle: Wait for the 15-minute chart bar to complete before making a decision (similar to using 'Open bar prices only' in the tester).
- TP: Take Profit (in pips).
- SL: Stop Loss (in pips).
- PerEnv: Envelope period.
- sdEnv: Envelope deviation.
- PerMM: Period of the signal exponential moving average.
- PerMMl: Period of the fast exponential moving average (slower than the signal).
Other input parameters can be found in the 'input parameter' box in the tester, which relate to risk management rather than order placement.
I truly hope you find EnvelopeMA helpful in your trading journey! If you have any suggestions or ideas to improve this EA, feel free to share them. Your feedback is always welcome, and I’m here to make this tool even better for all of us!
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