Mean reversion range EA for majors and cross currency pairs.
Broker timezone settings. “Winter UTC offset, hours” – winter offset. “Winter/summer changes schedule” – schedule of server DST shift. It is UTC+2/+3 winter/summer by default and it is valid for most brokers.
Risk settings. Volume is set with inputs “Money management“, “Value for Money management“, it is fixed lot, fixed risk per trade, or fixed volume per 1000 equity. Max simultaneous trades allowed is max trades allowed to be opened at same time. EA holds up to 2-3 trades most of time, and this parameter allows to limit the risk explicitly.
Launch EA on M15, set timezone and volume inputs. Rest may be left default. EA is ready to trade.
Spread control. If “Enable spread control” is on EA will not trade if current spread exceeds “Max allowed spread” value. Spread may be set in pips or percents of current price (“Spread unit” input). Default settings may be used for major currency pairs. EA will not skip deals on normal market while it will avoid trading on untested market conditions with huge spreads.
Stops and targets. “Stop-loss value“, “Take-profit value” – initial stop-loss and take-profit. Stop-loss and take-profit may be set in pips or percents of current price (“Stop-loss and take-profit unit” input). While EA is optimized on defaults it is quite possible to find different tradable settings.
Breakeven. If “Enable breakeven” is on then once “Profit trigger, pips” profit reached stop-loss will be dragged to trade open price level + “Profit to save, pips“. It is pullback EA and breakeven is off by default.
Trail. If “Enable trail” is on then distance between current price and stop-loss is checked on “Profit trigger, pips” reach. If the distance is higher than “Trail distance, pips” stop-loss is dragged to new level. “Trail step, pips” input sets minimal difference between current and new intended stop-loss. Trail is off by default like breakeven.
Time options. EA trades 24/7 by default. User may futher define which days of week and hours of day are tradable (“Nontradable hours, space-separated list“, “Trade on Sundays” , …, “Trade on Fridays“). “Friday closing time” allows to set the time to close all trades before weekend.
Backtesting: EA trades on candle closure and may be tested with “Open prices only” mode which is much faster than “Every tick” with essentially same results.
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