If you’re serious about trading, you’ve likely heard the buzz around the "Risk Reward Ratio" Expert Advisor (EA). This handy tool leverages RSI, Moving Averages, and Stochastic indicators to help you make informed trading decisions. The beauty of this EA lies in its ability to incorporate a customizable Risk Reward Ratio, along with Trailing Stop Loss and Take Profit features. Plus, it works seamlessly across all time frames and major forex pairs, as well as NASDAQ stocks.
Key Features to Consider
- Start with a Demo: Always test this EA on a demo account before diving in with real money.
- Open Candle Trading: This EA executes trades based solely on the price of the open candle!
- No Lot Size Increase: If you prefer not to increase your lot size after a losing trade, simply set
IncreaseFactor=0.
Inputs to Optimize Your Trading Strategy
- Use_TP_In_Money: Toggle Take Profit in Money (values: true/false).
- TP_In_Money: Set your Take Profit in Money (values: 10-100).
- Use_TP_In_percent: Toggle Take Profit in Percent (values: true/false).
- TPIn_Percent: Set your Take Profit in Percent (values: 10-100).
- Enable_Trailing: Enable Trailing Stop with money (values: true/false).
- Take Profit In Money: Set this in your current currency (values: 25-300).
- Stop Loss In Money: Set your Stop Loss in current currency (values: 1-20).
- REWARD_RATIO: Define your Risk Reward Ratio (values: 0.01-1).
- Exit: Automatically close trades if the trend is against you to manage drawdown (values: true/false).
- Lots: Set your lot size (values: 0.01-1).
- IncreaseFactor: Control how much to increase lots from total margin after a loss (values: 0.001-0.1).
- Stop_Loss: Set your Stop Loss (values: 30-500).
- MagicNumber: A unique identifier for your trades (values: 1-100000).
- FastMA: Set your Fast Moving Average (values: 1-20).
- SlowMA: Set your Slow Moving Average (values: 50-200).
Additionally, you can set parameters for managing drawdown, such as:
- UseEquityStop: Enable this feature to limit equity risk (values: true/false).
- TotalEquityRisk: Define your total equity risk (values: 0.01-30).
For those using only one trade, consider:
- TrailingStop: Set a value from 40 to 100 to activate trailing stop loss and take profit; a value of "0" will not activate it.
- Enable Break Even: Toggle this option (values: true/false).
- Move Break Even: Set how many pips to move to break even (values: 5-30).
It’s a good practice to optimize this EA every few months and use consistent inputs. You can even use it as a hedging grid EA or for single trades.
Want to learn how to perform a backtest? Check out this backtesting guide.
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