FREE SMA CROSSOVER PULL BACK SIGNAL:
Hello and welcome to this page. I have developed an Expert Advisor based off of the popular RoboPip automated strategy SMA Crossover Pullback.
As of now I am providing it as a FREE signal which people can follow via my MQL5 page. As I am a new user on BabyPips I am not allowed to post links yet but when I am, I will post links for where you can follow this free signal and its full statistics
I use the same entry and exit signals used on the original strategy. I trade on the pairs EUR/USD, GBP/USD and EUR/JPY. Trades are on 1 hour time frame. I risk 2% of my capital per trade. I am trading this on a DEMO account via the broker Darwinex.
Please view Entry and Exit details below:
100 SMA (red)
200 SMA (blue)
Stochastic (14, 3, 3)
Buy on the first instance that stochastic pulls up from the oversold area (25.00 level) after an upward SMA crossover takes place.
Sell on the first instance that stochastic drops down from the overbought area (75.00 level) after a downward SMA crossover takes place.
All entries are on close of relevant candle.
REVERSE SMA EXIT: In the event of a Simple Moving Average crossover in the opposite direction, an existing open trade will close automatically at market. A Simple Moving Average crossover in the opposite direction is what will exit an already open trade, it has nothing to do with stochastics. Stochastics are only used for entry purposes.
So basically, unless an open trade reaches its TP or hits Stop Loss, the Reverse SMA Crossover is the only other way an open trade will be closed.
Break Even Stop and Trailing Stop
The EA sets a 150-pip stop and a 300-pip profit target for a 2:1 reward-to-risk ratio per trade. It moves stop to entry (break even) once price moves 150 pips in the trade’s favor. Also, the EA automatically switches break even stop to a trailing stop once price moves 150 pips in the trade’s favor. Trailing Stop distance is set at 150 pips.
2% of equity is risked per open trade. Only one open trade per currency pair is allowed at any time. So as I am only trading three pairs with this strategy (EUR/USD, GBP,USD, EUR/JPY) the maximum open trades will be 3 (6% Maximal Drawdown)
I will update this blog on a weekly basis with my results.
Thank you for viewing and I hope you follow this signal in the near future!