ChristMyHedge is an EA (expert Advisor) aka forex trading robot based on Overbought/Oversold principle. It may be used on Majors (USD) or EUR pairs at which Spread is reduced, and on 1H or H4 charts only , using preferably Brokers with no commission.
200USD is the minimum recommended capital (though it’s going to still open trades on 100USD) at lot size 0.01. Lot size may be increased when equity is increased e.gram. 200USD for 0.01, 400USD for 0.02, 600USD for 0.03 etc.
Default parameters may be OK except where you want to set your MaximumAllowableSpread to align with your broker’s Spread at normal times (not at odd, news or volatile times) and/or appropriate StopLoss level.
Please note that the EA may not open trade frequently or everyday; therefore, you may trade 6 – 8 currency pairs, to increase the frequency..
The complete list of input parameters are:
FixLots: The fix lot size to use in all the trades irrespective of equity. Default is 0.01.
UseAutoLots: If the EA should automatically calculate the lot size. ‘Yes’ is the default value and will ignore the FixLots value above.
MaximumPercentRisk: The percentage risk of AccountFreeMargin to use to calculate lot size, if UseAutoLots=Yes above. The default is 5 (i.e. 5%).
MaximumTradeableSpread: The highest Spread that the EA is allowed to open trade with. The EA will not open trade if the Spread is higher than this value. The default is 35 (points).
MaximumGridTrades: The number of additional trades that can be opened if the loss of a running trade gets to -100 (points) and the other conditions are still favourable. The maximum is 2. The default is 1. 0 disables the grid-trading. This is purely grid trading, not martingale (it doesn’t open a doubled lot size trade) and not hedging (it doesn’t open a counter trade).
MaximumConcurrentTrades: The total number of trades that can be running at once (concurrently). Max. is 8. Default is = 4. This is necessary to limit the number of open/running trades, if you are trading many pairs.
StartTradesFromHour: The Hour of the day to start trading. Default is 0.
CloseTradesFromHour: The Hour of the day to stop trading and close all profitable trades. The default is 24; meaning, the EA will not stop/close trading.
TakeProfit: The Take Profit value. The default is 500 (points).
StopLoss: The value of Stop Loss to fix. 0 means no Stop Loss. Any number greater than 0 will be used as Stop Loss if UseAutoStopLoss is 0.
UseAutoStopLoss: If the EA should automatically calculate and fix Stop Loss based on standard pivot points, Resistance and Support levels. The default is ‘No’. If the value is ‘Yes’, it will ignore the StopLoss value above.
TrailingStop: To pick partial profit by moving the Stop Loss position to cover the profit at this point. The default is 150 (points).
TrailingStep: The number of steps (points) to move before reintroducing subsequent Trailing Stops. The default is 50 (points).
May Christ be Our Hedge!