Description
AwesomeFlip EA V1.0 An Overview
Introduction
The AwesomeFlip EA V1.0 is an automated trading system designed for MetaTrader 4. It’s suitable for both beginners and experienced traders. Let’s break down its key features:
- Strategy Type: The EA detects changes in the Awesome Oscillator and places stop orders based on another indicator.
- Currency Pairs: It operates on the following pairs: GBPJPY, EURJPY, and USDJPY.
- Timeframe: The recommended timeframe is H1 (1-hour chart).
- Risk Management: The EA allows you to set a fixed risk per trade (e.g., $100).
Strategy Description
The AwesomeFlip EA V1.0 follows a specific approach:
- Entry Signal: When the Awesome Oscillator shows a change, the EA places a stop order at a predefined level.
- Stop Loss: The stop loss is based on the Average True Range (ATR), with a minimum of 30 pips and a maximum of 200 pips.
- Take Profit: A fixed take profit level is set.
- Move to Break-Even: The EA adjusts the stop loss to break-even after a certain profit level is reached.
- Exit Time: All trading rules are checked only on bar open.
Risk Considerations
Before using any EA, consider the following:
- Drawdown: Look at the maximum drawdown in dollars. Ensure it aligns with your risk tolerance.
- Monthly Average Profit: While the EA aims for consistent profits, remember that there may be losing months.
- Trade Frequency: Check the total number of trades per month.
Recommended Settings
Here are the recommended settings for the AwesomeFlip EA V1.0:
- Initial Capital: Start with $500.
- Magic Number: Assign a unique number for each market where you use the EA.
- Risk Per Trade: Adjust based on your risk appetite (minimum recommended: $20).
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Additional Resources
Instant Download: https://yoforex.org/product/awesomeflip-ea-v1-0/
Contact: @yoforexpremium
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