Connect EA v3.4.2
Logic:
Arbitrage Strategy:
- The EA is designed to identify price discrepancies between correlated currency pairs and execute trades to exploit these inefficiencies.
- Uses multiple currency pairs (GBPUSD, USDCHF, USDCAD, USDJPY) for arbitrage opportunities.
- Monitors price movements and technical indicators such as Bollinger Bands and ATR to determine entry points.
Order Management:
- Trades are placed within a specific time frame (HourStart to HourEnd) to avoid low liquidity periods.
- Only one trade per currency pair is allowed at a time to minimize risk.
- Incorporates MaxSpread and MaxSlippage settings to ensure trades are executed under favorable conditions.
Stop Loss and Take Profit:
- Utilizes fixed StopLoss and TakeProfit levels to manage risk and secure profits.
- Allows for both manual and automated adjustments of stop loss and take profit levels based on market conditions.
Risk Management:
- Offers dynamic lot sizing based on account balance and user-defined risk percentage (MaxRisk).
- Can disable risk-based lot sizing to use fixed lot sizes (Lots).
- Implements additional risk controls such as trade time limits and spread checks.
Trade Execution:
- Executes buy trades if the current price is below the lower Bollinger Band and ATR is within acceptable limits.
- Executes sell trades if the current price is above the upper Bollinger Band and ATR is within acceptable limits.
- Trades are executed with specific MagicNumber to allow selective trade management.
Expiration and Validation:
- Ensures the EA only operates within its valid period, with built-in expiration checks.
- Validates the EA is running on the correct time frame (M5).
Error Handling:
- Provides detailed error descriptions and logs for troubleshooting trade execution issues.
- Ensures that any trade-related errors are logged and displayed for user awareness.
