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StochRider

The EA "StochRider" is developed for trading the EURUSD currency pair in the M15 timeframe using an effective trend-following strategy.

The main entry signal is based on the chart hitting a support or resistance line, and a secondary signal is used to filter reversal signals using the Stochastic Oscillator to mitigate potential unwanted orders.


Details of the EA:
  • Name: StochRider
  • Main Entry Signal: Chart hitting support or resistance lines
  • Secondary Entry Signal: Using the Stochastic Oscillator to filter reversal signals
  • Currency Pair and Timeframe: EURUSD, M15


Live Signal: https://www.mql5.com/en/signals/2164513


Backtest

  • Modelling quality: Every Tick
  • Spread: Variable
  • Time Period: 2015 – 2023.11
  • Symbol: EURUSD
  • Timeframe: M15
  • Dynamic lot: Dynamically sets the lot size based on the current balance.

* Backtests should be done with Tick Data Suite GMT+2 with US DST. This GMT offset is used by most brokers


** The only thing I recommend you adjust in this EA is to choose the lot size setting as you prefer.

Select True for your desired risk management setting: either Select_Risk_Setting, Select_Percent_Setting, or Select_Fix_initial_lot (choose only one to be True).

Once you've selected True, choose the risk level or input a numeric value under that option.


Recommend

  • Currency Pairs: EURUSD
  • Timeframe: M15
  • Account Type: Any, with a minimum spread (preferably ECN/Raw)
  • Leverage: 1:100 is recommended
  • Settings: Default
  • Minimal/Recommended Deposit: $1,000


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