Yen Trader specializes in trading JPY Crosses (XXXJPY), where 'XXX' represents one of the major currencies—just remember that USD serves as our reference point.
Depending on your chosen direction (R for Right or L for Left), this system trading tool will identify Divergence or Convergence between a major pair and USDJPY, executing trades on the Yen Cross Pair accordingly.
To detect Divergence or Convergence, the EA utilizes several key indicators:
- Close Price over a specific number of bars
- Moving Average
- Relative Strength Index (RSI)
- Commodity Channel Index (CCI)
- Relative Vigor Index (RVI)
When it comes to managing your trades, you can set Stop Loss, Take Profit, Profit Lock, and Trailing Stop based on either Pips or ATR multiples.
This EA is versatile, making it suitable for both scalping and swing trading strategies.
Related Posts
- How to Fetch High Impact Events from Forex Factory for Your EA
- MAMACD: A Game-Changer for MetaTrader 5 Traders
- Mastering the Moving Average EA for MetaTrader 5: A Trader's Guide
- Harnessing MQL5 Wizard for Trading Signals: 3 Black Crows & 3 White Soldiers with MFI
- Mastering NirvamanImax: Your Go-To EA for MetaTrader 4