Python EA is based on the mean reverting nature of price fluctuations during the night time hours (from 20:00 to 08:00 for EET). The backtest has been conducted from 2005.
The Python EA places two limit orders at a specific time period. This Expert Advisor does not use any martingale/grid techniques or hedge management.
The Forex trading robot uses:
- Daily EMA for determination of the trend;
- Support and resistance levels of the Price Channel for optimal Limit Orders placement;
- Filter of Volatility;
- Time-stop and Stop-loss.
Timeframe – M30. Currency: GBP/USD. The EA can be backtested by bars or every tick.
Python EA – Settings
- Lots – trading lot size.
- OrderStepPip – step between two limit orders.
- TakeProfitPip – profit target in pips(4 digit quotes) from the entry price.
- StopLossPip – stop-loss in pips(4 digit quotes) from the entry price. 0-disable.
- PCH – Price Channel period.
- EMA – EMA period.
- OrderStartHour – hour where the EA will start finding optimal buy/sell entry points. If the entry point is found, the EA will place a limit order.
- OrderStopHour – hour where the EA will stop finding optimal buy/sell entry points.
- TStopHour – hour where the EA will exit a position.
- UseMM_Balance – value in deposit currency. If this option is set (i.e. different from 0), then the trading lot is calculated per each part UseMM_Balance of deposit. If set to 0, then the trading lot size is fixed and equals Lots. For example, if Lots=0.1 and UseMM_Balance=300, when the deposit is 300, the EA will open an order of 0.1 lot, and when the deposit is 600 – 0.2 lot, when the deposit is 900 – 0.3 lot, etc. This parameter is needed for reinvestment.
Python EA – Features
- Minimum deposit – 100$
- Minimum lot – 0.01
- Recommended types of accounts – NDD and ECN