1Entry EA is an automated MT4 Single Entry EA Free to Download. One of the most notable features of 1Entry EA is its built-in risk management strategy, the Auto-SL (Stop Loss). This mechanism occurs when a false signal is detected, or drawdown increases gradually. Closing the trade in such instances significantly reduces potential losses.
Unlike other trading algorithms that might use a risky Martingale strategy (doubling down after losses), the EA opts for a more conservative approach. When a trade goes into a drawdown position, the EA will not open additional layers. Instead, the trade will either hit the predetermined stop-loss level, close at a loss, or close near the break-even point. This approach ensures that while the EA may incur some losing trades, the winning trades will outnumber the losses over time.
Understanding the 1Entry EA System
At its core, the 1Entry EA leverages the power of six key trading indicators: Trend, CCI (Commodity Channel Index), Williams %R, Stochastic oscillator, RSI (Relative Strength Index), and MACD (Moving Average Convergence Divergence). These indicators work in harmony to analyze market trends, volatility, momentum, and other key metrics that help the EA make informed trading decisions.
Trend Indicator: This indicator identifies the general direction of a market’s price movement over time. It allows the Single Entry EA to recognize and act on bullish and bearish market trends.
CCI Indicator: The CCI is a momentum-based indicator that signals when a currency pair may be overbought or oversold. This data is crucial to avoid entering trades likely to reverse soon.
Williams %R Indicator: This momentum indicator helps determine overbought and oversold levels. It’s particularly valuable in identifying potential price reversals.
Stochastic Oscillator: Used to predict price turning points by comparing a security’s closing price to its price range, this oscillator further refines the decision-making process.
RSI Indicator: The Relative Strength Index measures the speed and change of price movements, indicating when a trend is losing or gaining momentum.
MACD Indicator: A trend-following momentum indicator, the MACD illustrates the relationship between two moving averages of a security’s price. This insight aids the EA in identifying potential buy and sell signals.