Elarion Expert

Elarion Expert

• Working best with GOLD - M30
• Require minimal 300$ for 0.01 (AutoLot feature inside)

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This is a Single EA, less orders but might more Accuracy. Powerful Portfolio EA Launched NOW with QuantLynk Engine Series. More information Click here.

Indicators and Concepts

1. Rate of Change (ROC):

   • ROC measures the percentage change in price over a specified period. It helps identify the speed of price movements and potential reversals. A positive ROC indicates upward momentum, while a negative ROC suggests downward momentum.

2. Williams %R:

   • Williams %R is a momentum indicator that ranges from -100 to 0. It identifies overbought and oversold conditions, with values below -80 indicating oversold conditions and values above -20 indicating overbought conditions. It's useful for spotting potential market reversals.

3. Momentum:

   • Momentum is a measure of the speed at which a security's price is changing. It is calculated by comparing the current price with a price from a specified number of periods ago. Positive momentum indicates a bullish trend, while negative momentum suggests a bearish trend.

4. Awesome Oscillator (AO):

   • AO is a momentum indicator that measures the difference between a 34-period and a 5-period simple moving average of the median price. It helps identify market momentum and potential reversals by analyzing the strength of a trend.

5. Average Volume (AvgVolume):

   • AvgVolume calculates the average trading volume over a specific period. It provides insight into market activity and liquidity, helping confirm the strength of price moves. Higher-than-average volume can indicate strong interest in a move.

Trade Style: STOP Order

1. STOP Order by Daily Close:

   • A STOP order is placed based on the closing price of the daily candle. This means the order will trigger if the price reaches a specified level relative to the daily close, allowing traders to enter the market at predetermined conditions.

2. Stop Loss (SL) by Percentage:

   • The stop-loss is set as a fixed percentage away from the entry price. This method helps manage risk by limiting potential losses to a specific percentage of the trade's value.

3. Take Profit (TP) by ATR Coefficient:

   • The take-profit level is determined using a multiple (coefficient) of the Average True Range (ATR). This approach sets the profit target based on market volatility, allowing for dynamic TP levels that adjust to changing market conditions.

4. Trailing Stop with Highest in Range Time:

   • A trailing stop based on the highest price within a specified time range helps lock in profits as the market moves in the trader's favor. This method involves adjusting the stop-loss level to follow the highest price achieved during a particular range, allowing the trader to capitalize on continued upward movement while protecting gains.