The opening price of the day is the most important price level of the day. It represents the balance of bullish and bearish sentiment. The Boom Crash EA will trade in the direction of the day based on the daily open price. If the price rises above the opening price, the market is said to be bullish; if the price falls below the daily open, the market is said to be bearish. The starting price serves as a regular support and resistance level and typically sets the tone for the day’s direction.
This Expert Advisor can be purchased from the MQL marketplace whilst there is a free demo version also available to give it a try before making any commitment. In this article, I will be taking a look at how the Boom Crash EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Trading with Boom Crash EA
If the price is above the daily open, the EA will draw a blue line and will only buy above the blue line. If the price is below the daily open, the EA will draw a pink line and will only sell below the pink line. To manage open orders, it will employ a martingale method. The EA can be used on any time frame, however higher time frames such as H1, H4, and D1 are recommended. The Martingale trading technique is a popular trading strategy that involves doubling the position size after each loss in an attempt to recover the previous losses and make a profit. The technique is commonly used in forex trading, but it can be applied to any financial instrument.
Boom Crash EA Parameters
- Max Buys – the maximum number of buy orders that the Trading Advisor can open.
- Max Sells – the maximum number of sell orders that the Trading Advisor can open.
- Comment – comment on orders.
- Lot – the starting lot.
- Use dinamic lot – use a dynamic lot.
- Martin – the coefficient of increasing the lot.
- Grid distance – the distance between orders.
- Maxlot – the maximum lot.Take Profit – take profit.
- Stop Loss points – stop loss in points.
- Stop loss % – stop loss as a percentage of the deposit.
- Overlap-enables the algorithm for reducing the drawdown in which the last profitable and the first unprofitable order is closed.
- Overlap after X trade – from which order the drawdown reduction algorithm will be enabled.
- Maperiod – Ma using at Rainbow indicator for enter.
- Next, the parameters for drawing graphics.
Conclusion
Boom Crash EA could be a beneficial trading robot for traders with various levels of experience. The Boom Crash trading robot uses martingale strategy which is known as a risky trading technique. The traders who employ this EA may want to ensure that they are comfortable with its trading methods before proceeding to use this robot on their trading accounts. They may want to also test the Boom Crash EA on a demo account using a trial version to begin with before using the EA on a real account. This would enable the users to get a feel for how the trading robot works and see if it fits within their individual trading styles.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
