Precision Trend Scalper EA

Name: Precision Trend Scalper EA

Core Features:

1. Trend Following with Pullbacks:

   • The strategy will follow the overall trend (using EMA and VWAP to determine trend direction) and look for pullbacks to enter trades. It uses a multi-timeframe confirmation.

2. Key Indicators:

   • 62 EMA: The EA will determine the general market trend. When the price is above the 62 EMA, only buy trades will be taken, and when it's below, only sell trades.
   • VWAP (Volume Weighted Average Price): The EA will use Daily VWAP on M1-M15 timeframes and Weekly VWAP on M30-H1 to trade in line with institutional flow.
   • RSI (Relative Strength Index): A secondary filter to avoid overbought or oversold conditions. RSI (14) between 30-70 will be used to confirm entry.
   • ATR (Average True Range): For dynamic stop-loss placement based on volatility.

3. Currency Pair:

   • EUR/USD: The most liquid pair with relatively low spreads and predictable trends, perfect for trend-following and scalping.

4. Timeframe:

   • M15: For trend analysis and entry signals, combined with H1 for multi-timeframe confirmation.

5. Leverage:

   • 1:100: This is sufficient to scale positions while managing risk effectively.

Entry Rules:

1. Long Entry (Buy):

   • Price must be above the 62 EMA on both M15 and H1.
   • The price is trading above the VWAP.
   • RSI (14) is not overbought (below 70).
   • Once a pullback occurs (retracement towards the EMA but not below it), the EA will enter a long position when a bullish candlestick pattern (like a bullish engulfing) forms, confirming the continuation of the trend.

2. Short Entry (Sell):

   • Price must be below the 62 EMA on both M15 and H1.
   • The price is trading below the VWAP.
   • RSI (14) is not oversold (above 30).
   • The EA will enter a short position after a pullback and the formation of a bearish candlestick pattern (like a bearish engulfing).

Exit Rules:

1. Take Profit:
   • Use fixed take-profit levels, such as 2x ATR (Average True Range) to ensure a reasonable reward-to-risk ratio.
   • Partial profit-taking can be implemented at 1x ATR, locking in gains and reducing exposure while letting the rest of the position run.
2. Stop-Loss:
   • Dynamic stop-loss based on the ATR. Stop loss is placed at 1x ATR distance from entry to handle volatility, with a trailing stop that activates once the price moves 1.5x ATR in your favor.

Risk Management:

• Lot Sizing: Use 1-2% of the account per trade.
• Daily Risk Limit: The EA will halt trading for the day if the daily drawdown reaches 4% to ensure it stays within the 5% limit.
• Maximum Trades Per Day: Limit the EA to 5 trades per day to prevent overtrading and unnecessary exposure.

Additional Features:

1. Time Filter: The EA will only trade during high-liquidity periods (e.g., the London and New York sessions).
2. News Filter: The EA will avoid trading around high-impact news events (using an economic calendar filter to automatically disable trading 30 minutes before and after major news releases).

Expected Performance:

• Monthly Profit Target: 10-15% (depending on market conditions)
• Max Daily Drawdown: 3-5%
• Max Overall Drawdown: 8-10%

Advantages:

• Low Drawdown: By following the trend and waiting for pullbacks, the EA avoids entering trades at the top or bottom of price movements, reducing drawdown.
• High Profitability: Trend-following systems with momentum work well in trending markets like EUR/USD. The combination of EMA, VWAP, and RSI helps ensure entries are in line with the overall market sentiment.
• Consistent Results: EUR/USD has relatively predictable trends, and the M15 timeframe provides a good balance between catching trends and managing risk in shorter time frames.

This EA design should perform consistently while minimizing drawdown, and it is adaptable to various market conditions.