Every Day AI fx
- Experts
- Mohamed Javeed
- Versão: 3.0
- Atualizado: 12 setembro 2022
- Ativações: 10
The " Every Day AI fx MT4" Expert Advisor (EA) is a sophisticated and fully automated trading system designed for ( USDJPY ) only . It executes trades based on the analysis of daily candlestick patterns, primarily focusing on bullish candles. The EA is engineered to optimize trading performance through advanced risk management and trade management features, making it suitable for both novice and experienced traders who seek to enhance their trading strategy with automation.
Key Strategy:
1. Daily Bullish Candle Analysis:
- Objective: Identify potential upward trends by analyzing the previous day's candlestick.
- Criteria: A bullish candle is identified if the close price is higher than the open price.
- Action: Place a buy stop order 10 pips above the high of the identified bullish candle, ensuring entry only if the price continues to rise.
2. Automated Buy Stop Order Placement:
- Trigger: The EA operates at a specified server hour (default: 2 AM) to place orders based on the previous day's analysis.
- Entry Level: Pending orders are placed above the high of the bullish candle to capitalize on potential upward momentum.
Risk Management and Dynamic Lot Sizing:
3. Risk Levels:
-
Very Low Risk: 0.01 lots for every 1000 units of balance.
- Formula: 0.01 * (accountBalance / 1000)
-
Low Risk: 0.02 lots for every 1000 units of balance.
- Formula: 0.02 * (accountBalance / 1000)
-
Medium Low Risk: 0.03 lots for every 1000 units of balance.
- Formula: 0.03 * (accountBalance / 1000)
-
Medium Risk: 0.04 lots for every 1000 units of balance.
- Formula: 0.04 * (accountBalance / 1000)
-
High Risk: 0.05 lots for every 1000 units of balance.
- Formula: 0.05 * (accountBalance / 1000)
-
Very High Risk: 0.01 lots for every 150 units of balance.
- Formula: 0.01 * (accountBalance / 150)
-
Ultra High Risk: 0.01 lots for every 100 units of balance.
- Formula: 0.01 * (accountBalance / 100)
Lot Size Calculation Description
The EA calculates the lot size based on the selected risk level and the current account balance. The lot sizes are determined as follows:
Advanced Trade Management:
4. Trailing Stop Mechanism:
- Purpose: Lock in profits as the market moves favorably.
- Default Setting: 120 pips trailing stop.
- Functionality: Adjusts stop loss as the price increases, protecting accumulated profits.
5. Trade Expiry:
- Purpose: Prevent long-term exposure and potential reversals.
- Default Setting: 5 days.
- Action: Automatically closes trades that exceed the specified duration, minimizing risk from prolonged market exposure.
6. Pending Order Expiry:
- Purpose: Avoid executing outdated or irrelevant orders.
- Default Setting: 5 days.
- Action: Deletes pending orders after the specified period if they are not triggered, ensuring orders remain relevant to current market conditions.
Features:
- Automated Order Placement: Analyzes daily candlestick patterns and places buy stop orders strategically.
- Dynamic Risk Management: Offers six risk levels with corresponding lot sizes, tailored to different trading preferences.
- Comprehensive Trade Management: Implements trailing stops and trade expiry mechanisms to optimize trade outcomes.
- Configurable Parameters: Allows customization of key settings, including stop loss, trailing stop, trading hour, maximum pending orders, and expiry periods.
- Detailed Logging: Logs risk levels, lot sizes, and trade details for transparency and performance analysis.
Parameters:
- RiskLevel SelectedRiskLevel: Select from VeryLowRisk, LowRisk, MediumLowRisk, MediumRisk, HighRisk, VeryHighRisk.
- int StopLossPips: Set the stop loss in pips (default: 200 pips).
- int TrailingStopPips: Set the trailing stop in pips (default: 120 pips).
- int ServerHourToTrade: Specify the server hour to place orders (default: 2).
- int MaxPendingOrders: Maximum number of pending orders allowed at any time (default: 5).
- int PendingExpiryDays: Number of days before pending orders expire (default: 5 days).
- int TradeExpiryDays: Number of days before open trades expire (default: 5 days).
- int PipDifference: Pips above the high of the bullish candle for pending order placement (default: 10 pips).
Operational Workflow:
1. Initialization:
- OnInit Function: Initializes the EA, resetting the last recorded bullish candle time to ensure accurate daily analysis.
2. OnTick Function:
- Continuous Market Monitoring: Analyzes the previous day's candlestick for bullish patterns.
- Pending Order Placement: If a bullish candle is identified and it is the specified trading hour, the EA calculates the lot size and places a buy stop order.
- Logging: Records the risk level and lot size for transparency.
3. Trade Management:
- Trailing Stop Application: Adjusts the stop loss to lock in profits as the price moves favorably.
- Trade Expiry Check: Closes trades that exceed the specified duration to manage risk.
4. Utility Functions:
- CountPendingOrders: Ensures the number of pending orders does not exceed the specified maximum.
- CalculateLotSize: Determines the appropriate lot size based on the selected risk level and account balance.
- RiskLevelToString: Converts risk level enums to readable strings for logging.
- GetPipSize: Calculates the pip size based on the instrument's specifications.
Benefits:
- Automated Trading: Eliminates the need for manual intervention, allowing continuous market participation.
- Enhanced Risk Management: Adapts to different risk profiles, providing a structured approach to managing trading risk.
- Consistent Strategy Execution: Ensures strategies are executed without emotional bias.
- Transparency and Analysis: Provides detailed logs for performance review and strategy optimization.
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