Exhaustion EA (Exhaustion EA) | Foreign exchange EA download-MT4/MT5 resources-MetaTrader 5 resources
Hi,
I'm new to automated trading and just wanted to share my first EA with you all. This is a technique I've been trading (manually) for a while, but considering learning MQL coding, converting human thoughts into a bot, executing trades to compare results, and making it easier than monitoring charts all the time.
Main points
- I only tested this EA in the demo. ( Foxpro server)
- The EA does not rely on quote data. It opens trades based on the close/open of new candlesticks
- The EA buys when the price drops well below the EMA and sells when the price rises well above the EMA (countertrend)
- When floating profit is reached, the EA will lock/close all positions. (Varies based on time frame and trading currency)
Here's how the EA trades:
main idea
When the price rises or falls too far from the EMA, the EA will trade at the minimum value. The position is, for example, 0.01 in the opposite direction. The idea is that some correction may follow the longer-term trend. The EA will cause losses when the price moves against the first trade by a specific number of pips. For example, if you buy GBPJPY at 150.00 and use EA parameters to open a new trade, if the current trade loses 50 pips, it will open a double position at 149.50, and so on.
Trading ideas on charts (how EA works on charts)
https://charts.mql5.com/10/635/gbpus...l-services.png
https://charts.mql5.com/10/635/gbpus...services-3.png
Take profit
If the floating profit reaches the value we set in the EA, the EA will automatically close all trades. This is variable because the EA is set up to work on different timeframes/currency pairs (I will specify them below)
stop loss
No.
Parameters to modify before executing/testing the EA for each pair/timeframe
Minimum Position: You must tell the EA the position size of your first order. Keep it minimal. Relative to your account balance to avoid large withdrawals.
Max Position: Maximum position size in case price continues to move against you first.
Profit: All trades (profit + loss) will be automatically closed once the EA's profit (in your deposit currency) is reached, for example if your account is in GBP, 5 means 5 GBP.
Make sure you change these based on your account balance, trading results will vary greatly based on risk and position size. So try different settings.
What currency pairs/timeframes can the EA currently trade?
The EA currently works on specific currency pairs/timeframes. Opening up the code to figure them out, I'll add more pairs/timeframes as I find the optimal settings.
Backtest and do your homework. If you can improve the parameters to give better results or fix any bugs in my code (I'm new to this please remember), please feel free to post an edit here.
I am not responsible for any losses/gains in live trading. If you decide to trade with them, you do so at your own risk.
I am not posting for any commercial purposes and am in no way selling any code or strategies. I just share.
I'm new to automated trading and just wanted to share my first EA with you all. This is a technique I've been trading (manually) for a while, but considering learning MQL coding, converting human thoughts into a bot, executing trades to compare results, and making it easier than monitoring charts all the time.
Main points
- I only tested this EA in the demo. ( Foxpro server)
- The EA does not rely on quote data. It opens trades based on the close/open of new candlesticks
- The EA buys when the price drops well below the EMA and sells when the price rises well above the EMA (countertrend)
- When floating profit is reached, the EA will lock/close all positions. (Varies based on time frame and trading currency)
Here's how the EA trades:
main idea
When the price rises or falls too far from the EMA, the EA will trade at the minimum value. The position is, for example, 0.01 in the opposite direction. The idea is that some correction may follow the longer-term trend. The EA will cause losses when the price moves against the first trade by a specific number of pips. For example, if you buy GBPJPY at 150.00 and use EA parameters to open a new trade, if the current trade loses 50 pips, it will open a double position at 149.50, and so on.
Trading ideas on charts (how EA works on charts)
https://charts.mql5.com/10/635/gbpus...l-services.png
https://charts.mql5.com/10/635/gbpus...services-3.png
Take profit
If the floating profit reaches the value we set in the EA, the EA will automatically close all trades. This is variable because the EA is set up to work on different timeframes/currency pairs (I will specify them below)
stop loss
No.
Parameters to modify before executing/testing the EA for each pair/timeframe
Minimum Position: You must tell the EA the position size of your first order. Keep it minimal. Relative to your account balance to avoid large withdrawals.
Max Position: Maximum position size in case price continues to move against you first.
Profit: All trades (profit + loss) will be automatically closed once the EA's profit (in your deposit currency) is reached, for example if your account is in GBP, 5 means 5 GBP.
Make sure you change these based on your account balance, trading results will vary greatly based on risk and position size. So try different settings.
What currency pairs/timeframes can the EA currently trade?
The EA currently works on specific currency pairs/timeframes. Opening up the code to figure them out, I'll add more pairs/timeframes as I find the optimal settings.
Backtest and do your homework. If you can improve the parameters to give better results or fix any bugs in my code (I'm new to this please remember), please feel free to post an edit here.
I am not responsible for any losses/gains in live trading. If you decide to trade with them, you do so at your own risk.
I am not posting for any commercial purposes and am in no way selling any code or strategies. I just share.
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