The Hannah EA is a trading expert advisor designed for use on the popular MetaTrader 4 (MT4) platform. It combines the principles of Order Blocks and Regression Channel analysis to generate trade signals, with a focus on achieving consistent results with relatively low risk.
In this article, we will provide a comprehensive review of the Hannah EA, analyzing its strengths, weaknesses, and performance. Our aim is to give traders a clear understanding of the EA’s features, benefits, and limitations, allowing them to make an informed decision on whether to use it as part of their trading strategy.
Hannah EA Strategy
Hannah EA is a Forex trading expert advisor designed for use on the MetaTrader 4 (MT4) trading platform. It utilizes a combination of Order Blocks and Regression Channel analysis to generate trade signals.
Order blocks are price areas where significant market orders have been placed in the past, creating a potential support or resistance level. The EA identifies these zones and waits for the price to reach them before using a regression channel to determine the best entry point for the trade. The current volatility is also analyzed to ensure it makes sense to open the trade.
Regression Channel analysis involves using a mathematical formula to create a channel around the price action, providing a clearer picture of the market trend and potential entry and exit points.
The EA works best on AUDJPY, NZDJPY, USDJPY, CADJPY, EURGBP, and XAUUSD, although it can be used on any pair. It is optimized for the M15 and H1 timeframes, although it can also work on other timeframes.
The EA executes a single trade per signal and does not use risky trading methods such as martingale or grid trading. It typically takes 3-8 trades per month and may go days without taking any trades. All trades are protected by a stop loss and take profit.
One of the strengths of Hannah EA is its use of a combination of Order Blocks and Regression Channel analysis, which is intended by the developer to provide a more reliable signal than using just one of these methods alone.
However, one weakness of the EA is its limited trading frequency, which may not be suitable for traders who prefer more active trading. Additionally, while the EA is optimized for certain pairs and timeframes, it may not perform as well in all market conditions.
It is important to note that while Hannah EA may perform well in backtesting or demo accounts, trading always carries some degree of risk. It is recommended to test the EA thoroughly in a demo account and use appropriate risk management measures, such as a sensible lot size and stop loss level, before trading with real money. Additionally, using a forex VPS can help ensure uninterrupted trading for the EA.
Hannah EA Features
- The EA utilizes a combination of Order Blocks and Regression Channel analysis to generate trade signals.
- It is designed for use on the MetaTrader 4 (MT4) trading platform.
- The EA works best on AUDJPY, NZDJPY, USDJPY, CADJPY, EURGBP, and XAUUSD, although it can be used on any pair.
- It is optimized for the M15 and H1 timeframes, although it can also work on other timeframes.
- The EA executes a single trade per signal and does not use risky trading methods such as martingale or grid trading.
- It typically takes 3-8 trades per month and may go days without taking any trades.
- All trades are protected by a stop loss and take profit.
- The EA can be used on a VPS for uninterrupted trading.
- It analyzes the current volatility to ensure it makes sense to open the trade.
- The EA identifies order blocks and waits for the price to reach them before using a regression channel to determine the best entry point for the trade.
- It does not require constant monitoring and can run on autopilot once set up.
- The EA can be tested thoroughly in a demo account before trading with real money.
- It provides a relatively safe trading experience due to its low frequency of trades and risk management measures.
- The EA can be customized with various settings to suit the trader’s preferences and needs.
Hannah EA Settings
- Order block size: The size of the order blocks to be used for analysis.
- Regression channel period: The period to be used for the regression channel analysis.
- Regression channel deviation: The deviation to be used for the regression channel analysis.
- Trade volume: The lot size for each trade.
- Maximum trades: The maximum number of trades the EA will execute at once.
- Stop loss: The stop loss level for each trade.
- Take profit: The take profit level for each trade.
- Trailing stop: The trailing stop level for each trade.
- Risk percentage: The percentage of account balance to be risked per trade.
- Magic number: A unique identifier for the trades opened by the EA, allowing for easier tracking and management.
- Slippage: The maximum amount of slippage allowed for each trade.
- Trading hours: The hours during which the EA will be active.
- Maximum spread: The maximum spread allowed for each trade.
Hannah EA Summary
The Hannah EA is a Forex expert advisor that combines Order Blocks and Regression Channel analysis to generate trading signals. It trades on several currency pairs, with a preference for the M15 and H1 timeframes. Its strengths lie in its low-risk trading style, absence of dangerous trading methods, and use of stop loss and take profit orders to protect trades. Its weakness lies in its low trading frequency and reliance on specific market conditions. The Hannah EA is best suited for traders who prioritize risk management and have patience in waiting for high-quality trade setups. It’s important to note that there are no guarantees of success and traders should conduct thorough research before using the EA. Demo testing the EA and applying good risk management settings can help users gain a better understanding of its performance.
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.
