Market Sponge EA

Market Sponge EA is a fully automated Expert Advisor based on the RSI indicator and a custom home made algorithm who constantly analyzes the market to determine the best times to place orders that are confirmed by the RSI. This one is fully parametrable which gives you a great control over what the EA can do. Use this EA on EURCHF with the default settings if you want to use it on another Symbol you will need to optimize parameters. Basic settings are optimized and I will update them every 6 months. Do not hesitate to contact me if you have any questions or just to give me a feedback.

Starter Kit

• Symbol: EURCHF M5.
• Optimum deposit: $1000.
• Leverage: doesn't matter.
• ECN account with fast execution and low spreads.
• VPS hosting is highly recommended.

Input parameters

• MagicNumber - this EA will only deal trades with this number.
• ManualLot - default lot size used.
• UseAutoLot - (boolean) use or not the automatic calculation of lot size.
• AutoLotPercent - percent of the free margin used.
• UseTakeProfit - (boolean) use or not the take profit.
• TakeProfit - the take profit value.
• UseStopLoss - (boolean) use or not the stop loss.
• StopLoss - the stop loss value.
• ManualLot - default lot size used.
• UseMartingale - (boolean) use or not the martingale.
• Martingale - factor of the martingale.
• RSI_period - RSI's period.
• RSI_break_0 - a RSI's level condition to close orders.
• RSI_break_1 - another RSI's level condition to close orders.
• Alg_level - central factor of the algorithm to 'sponge' the market.

Note

I propose the rental but I strongly advise you to use this EA over several months it is better to buy and think long term.