Simple Stoch Divergence EA
Logic:
- Trend-Following:
- Utilizes the Stochastic Oscillator to determine trade entries based on divergences between the price action and the indicator values.
- A combination of multiple Stochastic settings is used to refine the entry signals, aiming to identify overbought and oversold conditions in the market.
- Order Management:
- Opens buy orders when specific criteria for divergence and trend direction are met, such as the Stochastic showing oversold levels combined with other indicators.
- Similarly, opens sell orders based on overbought conditions and other confirmatory signals.
- The EA also implements trailing stops to secure profits as the market moves favorably.
- Trailing Stop:
- Applies a trailing stop to adjust the stop loss dynamically, ensuring that profits are locked in as the trade moves in the desired direction.
- Profit Protection:
- Closes open positions when opposite signals are generated, ensuring that trades are exited at optimal points.
