Scalable

Scalable Forex Expert Advisor (EA) Product Description

Overview

The Scalable Forex Expert Advisor (EA) is specifically designed for news traders who want to automate the placement and management of pending orders swiftly during news trading. This powerful and customizable EA enables traders to set up and automate their trading strategies for specific news events. With the ability to handle incrementing order distances and progressive lot sizing, the EA maximizes trading potential while incorporating advanced risk management features such as trailing stops and take profit levels.

Advantages and Features

1. Automated Trading for News Traders: Simplifies trading by automating the placement and management of pending orders during news events.

2. Customizable for Specific News Events: Fully customizable via user inputs, allowing traders to tailor the EA to specific news events and trading strategies.

3. Flexible Order Types: Configure the EA to place both Buy Stop and Sell Stop orders, or focus on one type according to your strategy.

4. Incremental Order Placement: Orders are placed at incrementing distances from the current price, as defined by the user.

5. Progressive Lot Sizing: Automatically increase lot sizes progressively to optimize trading volume while adhering to predefined user limits.

6. Advanced Risk Management: Built-in trailing stops and take profit settings help minimize risks and secure profits effectively.

7. Dynamic Take Profit Placement: Take profit is only set for positions that are triggered, calculating the take profit from the points when the position was opened rather than placing it as a pending order.

8. User-Defined Order Quantity: Traders can determine the quantity of orders they wish to place in terms of volume and total number of orders.

9. Trailing Stop Activation: Activates a trailing stop after a position is triggered and sets profits to ensure that positions are protected until they hit the take profit, preventing reversals that could give back all the profits made from the specific news event.

10. Range-Defined Take Profit: The take profit utilizes a range defined by the user where different positions will have various progressive take profits within the defined range.

Input Parameters

1. TotalLotSizePerSide: The total lot size for each side (buy/sell) of the trade.

2. StopLossPoints: The stop loss level in points.

3. TakeProfitMinPoints: The minimum take profit level in points.

4. TakeProfitMaxPoints: The maximum take profit level in points.

5. TotalOrdersPerSide: The total number of orders to be placed per side.

6. MinLotSize: The minimum lot size for each trade.

7. MaxLotSize: The maximum lot size for each trade.

8. MinOrderDistancePoints: The minimum distance from the current price for placing orders, in points.

9. MaxOrderDistancePoints: The maximum distance from the current price for placing orders, in points.

10. TrailingStopPoints: The trailing stop level in points.

11. TrailingActivationPoints: The activation level for the trailing stop in points.

12. OrderType: Select the type of orders to place: Both, BuyStopOnly, or SellStopOnly.

13. OrderFormation: Choose the method for order formation: Progressive, Regressive, Balanced, or Cyclic.

Conclusion

The Scalable Forex EA is an essential tool for news traders looking to automate their trading strategies with precision and efficiency. Its robust features and customizable parameters make it a versatile and reliable choice for traders aiming to capitalize on news events with minimal risk.