Hornet Forex EA

The Hornet automated expert advisor was designed to work with the EURUSD pair, but it also works well with many other currency pairs with proper optimization. The work algorithm is based on several precise strategies, such as regression channels on multiple timeframes, Price Action patterns, and medium-term trend following. Using several filters, such as controlling the average daily deviation, reversible patterns on higher timeframes, and determining the medium-term trend, you can reduce the number of false signals. Instead of the traditional point settings, some parameters use coefficients, which allow the advisor to automatically adjust to market conditions. The expert’s input parameters are divided into logical blocks with user-friendly names.

This expert advisor can be purchased from the MQL marketplace. In this article, I will be taking a look at how the Hornet Forex 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 Hornet Forex EA

In the case of a Price Action candlestick pattern, while trading with the Hornet Forex EA, the primary entry is made in the direction of the current trend and price position relative to the regression lines of the selected time frames. In days of high volatility, entry may be denied (Daily Filter). The lot size can be fixed (Lot Fix Size) or calculated based on the deposit’s current balance (Lot Dynamic Size / Lot Dynamic Balance). Stop Loss and Take Profit can be installed. The Trailing Stop and Trailing Profit functions, which work on closing the bar, can be used to manage the primary order.

Regression channels are a popular technical analysis tool used by traders to identify trends and potential entry and exit points for trades. These channels are created by drawing parallel lines above and below a linear regression line that best fits the price data over a given period.

Here’s how trading with regression channels works:


  1. Identifying the trend: The first step in using regression channels is to identify the trend in the price data. This can be done by looking at the slope of the linear regression line. If the line is sloping upwards, it indicates an uptrend, while a downwards slope indicates a downtrend.
  2. Drawing the regression channels: After the trend has been identified, drawing parallel lines above and below the linear regression line. These lines represent the upper and lower regression channels, which are used to identify potential entry and exit points for trades.
  3. Looking for price action: Next, looking for price action around the regression channels. If the price moves above the upper channel, it indicates a potential overbought condition and a possible opportunity to sell or short the asset. Conversely, if the price moves below the lower channel, it indicates a potential oversold condition and a possible opportunity to buy or go long the asset.
  4. Using additional indicators: While regression channels can be effective on their own, traders often use additional indicators such as momentum oscillators or moving averages to confirm potential trade entries or exits.
Hornet Forex EA
Hornet Forex EA

Conclusion

The Hornet Forex EA may be found interesting by traders who are looking forward to having an automated system executing trades for them. This EA has an available free demo version on the MQL marketplace, hence traders may want to test it first on their demo accounts in order to know whether it is good enough for them before deciding whether to purchase this forex robot and use on their real accounts.

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