Day Trading EA 1.5
Metatrader (MT4) Expert Advisor
The Day Trading EA is a fully-automated expert advisor which trades breakouts of variable lengths, based on our famous indicator bearing the same name. On the flip side, it only trades EURUSD H1 -won't trade anything else-
- Easy to set up and supervise
- No previous experience required
- No optimization or analysis needed
The EA has a set of great features:
- Only pending orders are used
- All orders are protected by stop-loss and take-profit
- Trading activity is frequent, perfect for rebate generation
- It implements a spread control which removes all orders
- Profits are left running using an adaptative trailing-stop
- Pending orders are not left opened during the weekend
- Redundant stealth TP and SL order management
- Position management adapts to commission
- No averaging, no grid and no martingale
- Trading is NFA-FIFO Compliant
All you need is a broker with good trading conditions:
- Spreads below 1 pip (10 points)
- Stoplevel below two pips -zero is better-
- Commissions below 6USD per round lot
- It only trades EURUSD
Enhance your trading activity with the most effective day trading expert advisor, just like our customers have already done.
How does it work?
The expert advisor trades breakouts of variable lengths, based on our famous indicator Day Trading. It uses a donchian channel and average true range (ATR) to take trading decisions.
It places pending orders at yet untouched support and resistance levels around the current price, using a donchian channel as a reference. When these prices are touched, the pending orders become market orders and the position management starts.
As soon a trade is 3-4 pips in profit, the EA moves the stop-loss to the open price plus/minus one pip in profit. From this point on, a wide trailing-stop expressed as percentage of the current trade profit is used to keep the trade alive as long as it is moving in our favor. The edge lies in the fact that volatility expands when the price tests an untouched price level, which usually allows the EA to perform a fast break-even and keep the trade alive at no risk.
The EA pyramids positions decreasing the lotsize each and every time.
You don't need to buy Day Trading Indicator for the EA to work!
Kindly note that default parameters are optimal for EURUSD H1.
- ≡ Input parameters
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Trading Settings
- The following parameters affect the trading activity.
- Stop-loss: Select the stoploss in pips for the orders.
- Trailing-stop: Choose a trailing stop expressed as percetange of profits.
- Take-profit: Select the takeprofit in pips for the orders.
- Max Spread: Select the maximum acceptable spread to trade.
- NFA/FIFO: Enable this option for US-Brokers.
- Money Management
- Select the risk allocation per trade, or a fixed lotsize to trade.
- Drawing Options
- Select colors and sizes of chart labels and lines.
- EA Settings
- Customize your order comment or magic number.
- ? FAQ
- Which is the best symbol and timeframe to trade?
- The best symbol and timeframe is EURUSD H1.
- Which are the best settings for the EA?
- Default parameters are perfect for EURUSD (H1) if your broker has a stoplevel of zero pips. If it does not, you might want to put a tighter take-profit to avoid delays in starting the position management.
- I don't want to leave pending orders overnight!
- The EA will delete all pending orders at Friday 9pm GMT.
- Do I need to buy the Day-Trading Indicator?
- No, you don't. The EA works independently from the indicator.
- Does slippage affect the EA negatively?
- Yes, it does. However, since the EA places pending orders on the broker server and removes them when the spread is high, the slippage should be close to zero.
- How does the spread control work?
- The EA will delete all pending orders from the chart when the spread goes above the maximum spread parameter, and restore them when it falls back to acceptable levels. This will keep your safe from high-volatility situations or scary news releases without having to worry about it.