Trading Robots for MetaTrader 5
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Overview
The Smartmoney Imbalance Expert Advisor is an automated trading strategy that enters the market based on a combination of the Imbalance system and the BB (Bollinger Bands) indicator. This Expert Advisor also uses machine learning elements to continuously improve the trading strategy.
Imbalance (IMB) is a strong impulsive price movement that occurs after a large player injects a large amount of capital into the market. Since there are not enough counter orders in the market at that moment, the price moves sharply in the direction in which the large capital leads it.
Imbalance is defined using a 3 candle formation, where the second candle has a void at the body of the candle between the shadows of the first and third candle. Price tends to overlap the imbalance zone, which is what this EA uses to enter the market.
In this price range there is an imbalance between supply and demand due to price inefficiency, the reason being the lack of liquidity, i.e. counter orders.
There are 2 types of imbalances:
Bullish IMB
Bearish IMB
Every 10 trades the results are analysed and if the percentage of unsuccessful trades exceeds 20%, the market entry parameters are adjusted.
The Expert Advisor is designed for trading major currency pairs on the H1 timeframe. To use the Expert Advisor, you need to attach it to one chart in the trading platform, and then list currency pairs to trade in the Symbols parameter.
Currency pairs for trading: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, USD
