Langust EA V1.6 (Source Code) MQ4

The Langust EA V1.6 is a trading robot designed for the MetaTrader 4 (MT4) platform.The input and support levels are formed simultaneously based on the signals from these three indicators across three different timeframes.

Description

Langust EA V1.6: A Comprehensive Overview

Introduction

The Langust EA V1.6 is an automated trading robot designed for the MetaTrader 4 (MT4) platform. Traders can utilize its source code (MQ4) to customize and optimize their trading strategies. Below, we delve into the key aspects of this EA:

Minimum Deposit

Minimum Deposit: $5000

Timeframe

Optimal Timeframe: M5 (5-minute chart)

Platform

Platform Compatibility: MetaTrader 4 (MT4)

Currency Pair

Recommended Currency Pair: EUR/USD (Euro/US Dollar)

Trading Strategy

The Langust EA V1.6 follows a specific trading strategy based on technical indicators. Let’s explore how it takes trades:

Indicator-Based Approach:
- The EA relies on three standard indicators: Bollinger Bands, Stochastic, and RCI (Relative Currency Index).
- These indicators provide signals based on price movements, volatility, and market momentum.
Entry Signals:
- For a trade signal to be generated, all three indicators must align in the same direction.
- The EA considers signals across three different timeframes (e.g., M5, M30) for confirmation.
- Once alignment occurs, the EA opens a position (buy or sell) in the recommended currency pair (EUR/USD).
Risk Management:
- The EA does not employ martingale or hedging strategies.
- It aims for consistent gains by identifying favorable market conditions.
- Stop-loss and take-profit levels are set to manage risk.
Lot Sizes:
- The EA calculates lot sizes based on account balance and risk tolerance.
- It adjusts position sizes to maintain a balanced risk-reward ratio.