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ShootingStar FX EA V3.01 MT4

Original price was: $350.00.Current price is: $0.00.

The ShootingStar FX EA V3.01 for MT4 is an automated trading system designed to operate in the foreign exchange market.It executes trades based on predefined algorithms. It evaluates market conditions, technical indicators, and price patterns to identify favorable entry points.

Description

ShootingStar FX V3.01 MT4: A Powerful Trading Strategy

Overview

The “ShootingStar FX V3.01 MT4” is an expert advisor (EA) designed for Meta Trader 4 (MT4) that aims to capitalize on potential trend reversals. Below, we delve into the key aspects of this strategy.

Minimum Deposit

  • To start trading with the “ShootingStar FX V3.01 MT4,” brokers typically recommend a minimum deposit of $200. This allows you to participate in live trading with lower risks.

Timeframe and Currency Pair

  • Timeframe: M5 (5-minute chart)
  • Currency Pair: GBPJPY

ShootingStar FX EA V3.01 MT4

ShootingStar FX EA V3.01 MT4

ShootingStar FX EA V3.01 MT4

Strategy Highlights

  1. Shooting Star Candlestick Pattern:

    • The EA identifies potential reversals using the Shooting Star candlestick pattern. This bearish pattern forms at the top of an uptrend, suggesting a future downtrend.
    • The Shooting Star has a long upper shadow/tail and a small body at the bottom of the candle.
    • The length of the upper shadow should be approximately twice the body length for optimal effectiveness.
  2. Risk Management:

    • The EA aims to keep drawdowns minimal.
    • Traders should set a stop loss slightly above the high price of the Shooting Star candle.
  3. Trading Execution:

    • The EA executes trades when the Shooting Star pattern is confirmed.
    • It combines technical analysis with fundamental factors (economic calendar events) for informed decision-making.
  4. GBPJPY Pair:

    • GBPJPY is a highly volatile pair, making it suitable for trend-following strategies.
    • JPY serves as a funding currency due to its historically low yields.
    • GBPJPY can act as a proxy for global economic health and risk sentiment.

Download and Telegram Link

 

[Remember to practice proper risk management and thoroughly test any EA on a demo account before trading live]

 

😊Happy Trading😊

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