RPM5 v1
Logic:
- Trend-Following:
- The EA uses a combination of Bulls Power and Bears Power indicators, along with a custom indicator “BullsBearsEyes,” to determine the trend direction.
- The EA opens buy positions when the current value of “BullsBearsEyes” is above 0.50, indicating a bullish trend.
- Sell positions are opened when the current value of “BullsBearsEyes” is below 0.50, indicating a bearish trend.
- Trailing Stop:
- The EA uses a trailing stop mechanism to lock in profits as the trade moves favorably.
- The trailing stop is adjusted based on the ATR (Average True Range) to ensure the stop loss is moved only when the market volatility justifies it.
- Scalping:
- The EA is designed to operate on lower time frames (M5) and uses narrow stop loss and take profit levels, making it suitable for scalping strategies.
- The EA calculates and places orders based on the day’s extremums and predefined pivot points, making quick trades within tight price ranges.
- Order Management:
- The EA checks for the total number of open trades before opening new ones, ensuring that it only manages one position per symbol.
- It also manages existing positions by modifying their stop losses according to the trailing stop logic.
