EA Tesshinso
Logic:
- Level Trading:
- The EA uses historical price data to identify key levels (support and resistance) where trades are more likely to succeed.
- The EA draws horizontal lines (levels) on the chart and decides to buy or sell based on whether the price crosses above or below these levels.
- Trend-Following:
- Utilizes indicators like Williams’ Percent Range (WPR) and Awesome Oscillator (AO) to gauge the market direction.
- The EA evaluates candlestick patterns (e.g., Pinbars, Bullish Engulfing) to confirm the trend and determine trade entries.
- Trailing Stop:
- The EA employs a trailing stop feature, adjusting the stop loss dynamically as the trade moves in favor of the position.
- This feature helps to lock in profits as the market trends in the desired direction.
- Order Management:
- Implements risk management through lot size calculations based on account balance and risk percentage.
- The EA is configured to handle different market conditions (ECN broker compatibility, high spread avoidance) and manage both BUY and SELL orders effectively.
- Trade Execution:
- Trades are placed when specific conditions are met, such as crossing key levels, candlestick patterns, and indicator signals aligning.
- Includes specific checks to ensure the EA does not open trades during unfavorable market conditions (e.g., high spreads).
- Risk Management:
- Limits the risk by adjusting lot sizes and implementing a maximum slippage tolerance.
- Ensures only one type of order (BUY or SELL) is active at any given time to avoid conflicting trades.
