Pullback Cobra EA V1.1 MT4

Description

Pullback Cobra EA V1.1 MT4 Strategy

Overview

The Pullback Cobra EA V1.1 MT4 is designed to identify trading opportunities during trend retracements. It combines the use of the Exponential Moving Average (EMA) for trend direction and a fast period Relative Strength Index (RSI) to identify pullbacks.

Key Parameters

• Minimum Deposit: $200
• Timeframes: M1 and M30
• Currency Pair: XAUUSD (Gold/US Dollar)

 

 

Strategy Details

1. Trend Identification:
   • The EA monitors the EMA (Exponential Moving Average) to determine the overall trend direction.
   • When the EMA indicates an established trend (either bullish or bearish), the EA looks for potential pullback opportunities.
2. Pullback Entry Criteria:
   • The fast period RSI (Relative Strength Index) is used to identify pullbacks.
   • When the RSI reaches an oversold condition (typically below 30), it suggests a potential pullback.
   • The EA waits for price to close inside the array of EMAs (8, 13, and 21 EMA) on the 5-minute timeframe.
3. Trade Execution:
   • Once the pullback conditions are met, the EA executes a trade in the direction of the prevailing trend.
   • It aims to capture profits as price resumes its trend.

Risk Management

• The EA does not employ risky strategies such as martingale or hedging.
• It focuses on identifying high-probability pullback trades within the established trend.
• Risk management should be applied by adjusting lot sizes and setting appropriate stop-loss levels.

Platform and Download

• The Pullback Cobra EA V1.1 MT4 can be downloaded from our website:  https://yoforex.org/
• Join our Telegram channel for updates and discussions:  https://t.me/yoforexrobot

 

Remember to thoroughly test the EA on a demo account before using it in live trading. Adjust settings based on your risk tolerance and trading preferences.

 

 📈🤖Happy Trading 📈🤖