Hedge Obasan EA
- Experts
- Hong Ling Mu
- Version: 1.0
I have designed a logic based on the widely used RSI indicator in Forex trading. Normally, it is well known that entering trades when the RSI value is overbought or oversold is effective, but it is not very effective when the trend reverses. Therefore, as a countermeasure, this EA (Expert Advisor) enters counter-trend trades after entering based on the RSI value. In other words, it uses a grid order strategy, but instead of placing orders at fixed intervals, it places additional sell orders when the RSI value is oversold at regular intervals, and it places buy orders along the trend when the RSI value is overbought. The EA performs trades with both the main order based on the RSI value and the counter-trend grid order, and all these orders are closed as a basket.
The profits from the basket closure are calculated based on 0.01 lots with $1 as the base. The average profit is automatically calculated from the total lot size. Additionally, the EA has a feature called Martingale, where if an order is closed due to a stop loss, the next lot size is increased.
The optimal currency pairs and time frame are as follows:
GBPUSD or EURUSD on H1.
https://www.mql5.com/ja/signals/1960734
Of cource , you can trade any pairs in forex market including XAUUSD.
In XAUUSD, please change SL, and Grid distance to x 10times value input because it is points.
For time frame setting, longer timeframe is far better.
https://www.mql5.com/en/signals/1960734
<Manual Settings>
1. Comment: You can enter any comment for the EA.
2. MAGIC: Magic number.
3. Auto Magic: When set to true, it automatically assigns a MAGIC# even if multiple currencies are opened.
4. Slippage: Maximum value for slippage.
5. Tick Entry: Set to true if you want to enter immediately when the indicator signal appears. If set to false, it enters at the beginning of the next candle.
6. Reverse Entry: Enters trades opposite to the indicator's signal.
7. Max spread (pips): It won't enter trades if the spread exceeds this value.
8. TRADE BUY&SELL: Choose to enter only buy or sell trades or both.
9. Max Position: Maximum number of orders to hold at once.
10. Base lots: Initial lot size.
11. Take Profit (pips): Take profit level.
12. Stop loss (pips): Stop loss level.
13. Order distance: If you increase Max Position, you can set the distance between BUY/SELL orders. Use this when you want to have a certain gap between consecutive orders.
14. Risk trade/Use Risk/Risk percent: When the account balance increases, the lot size automatically increases based on a percentage.
15. Martingale in loss trade: Use this when you want to increase the lot size if an order is closed with a loss.
16. Opposite Signal: Closes orders based on the opposite signal of the indicator. If Close When Profit is set to true, it only closes orders when there is a profit.
17. Trailing Stop: Trailing stop feature.
18. Break Even: Break even feature (valid only once).
19. Basket Profits: Closes all orders based on total profits. You can input it as a percentage of the balance, lot size dependency (automatically calculates average profit), or any dollar amount.
20. Basket Stop Loss: Closes all orders based on total loss.
21. Time Filter: You can set up to 3 time filters. The EA will only operate during the specified times. However, the grid order is excluded.
22. Grid Order: Automatically places additional orders at fixed intervals, regardless of the indicator's signal. You can set the multiplier for lot size and interval.
23. Profit Target (Daily Weekly): You can set the maximum daily and weekly profits. The EA will automatically stop and resume the next day when this profit is reached.
Good EA that uses safe martingale.