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Elite Trading Software

SimpleSwing

SimpleSwing

Regular price £49.00 GBP
Regular price £99.00 GBP Sale price £49.00 GBP
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The SimpleSwing is an Expert Advisor (EA) for MetaTrader 4. 

What is swing trading?

Swing trading is a style of trading that aims to capture "swings" or price movements in financial markets. Traders typically hold positions for a few days to weeks, taking advantage of short to medium-term price trends. Unlike day trading, swing traders are not concerned with intraday fluctuations but focus on identifying and profiting from price changes within a broader trend. The goal is to enter trades at points where the price is likely to change direction, capturing profits during the upswings and avoiding losses during the downswings. Swing trading combines elements of both trend following and countertrend strategies.

Here's a breakdown of what this EA software does:

Input Parameters:

  •  stopLoss: Defines the stop loss level in pips.
  • trailingStop: Sets the trailing stop level in pips.
  • takeProfit: Specifies the take profit level in pips.
  • riskPercentage: Determines the risk percentage per trade.
  • tradingHourStart and tradingHourEnd: Set the trading hours in 24-hour format.
  • useRiskPercentage: If true, the EA calculates lot size based on risk percentage; otherwise, it uses a fixed lot size.
  • fixedLotSize: Specifies the fixed lot size if use RiskPercentage is false.                                                                                                                                             Buy Condition:
  • If RSI crosses below the oversold level, the EA places a buy order.
  • Calculates entry price, stop loss price, and take profit price.
  • Determines the lot size based on risk percentage or fixed lot size.
  • Checks if the calculated lot size is within the allowable range.
  • Places a buy order using OrderSend function and prints success or error messages. 

Sell Condition:

  • If RSI crosses above the overbought level, the EA places a sell order.
  • Similar to the buy condition, it calculates entry price, stop loss price, take profit price, lot size, and checks the allowable range.
  • Places a sell order using OrderSend function and prints success or error messages.

Order Execution and Error Handling:
The EA uses the OrderSend function to execute buy or sell orders and checks for any errors during order placement.

This EA relies on the RSI indicator to make trading decisions based on overbought and oversold conditions. Users can customize input parameters according to their trading preferences. Additionally, risk management is incorporated by allowing users to choose between a fixed lot size or a dynamic lot size based on a specified risk percentage.

PLEASE NOTE THIS IS JUST AN AUTOMATED EA FOR USING RSI WITH TP AND SL AND TRAILING STOP LOSS, IT SHOULD BE USED AS PART OF YOUR OWN STRATEGY. WE DO NOT SUPPLY ANY SETTINGS OR BACK TEST. THIS IS REFLECTED IN THE CHEAP PRICE.

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