The Swing Trading EA is an automated forex trading software that uses various basic indicators such as price action, trend, CCI, and PPO to analyze the market and place trades accordingly. The main trading systems used by this EA are price action and trend strategies.
In this Review, we will take a closer look at the Swing Trading EA, its strategies, features, and settings and provide all the necessary information on the EA to decide whether it is the right choice for you.
Swing Trading EA Strategy
The Swing Trading EA is an automated forex trading software that uses a combination of various basic indicators such as price action, trend, CCI, and PPO to analyze the market and place trades accordingly. It is a versatile tool that allows traders to trade on five specific currency pairs, namely AUDCAD, CADCHF, EURUSD, NZDCAD, and USDCAD, in the 5-minute time frame and use different trading strategies based on price action and trends.
This EA works by analyzing price action, trends, CCI, PPO, and other indicators to identify potential trading opportunities, and it is compatible with both the MT4 and MT5 platforms. This feature enables traders to use the EA on their preferred platform and access a range of tools and resources to support their trading activities. Traders can also use IC Markets, a regulated forex broker with low spreads, to optimize their trading experience.
Another significant feature of this EA is its ability to trade using a fixed or auto lot, which automatically adjusts the trade size based on the trader’s account balance. This feature helps minimize risks, as traders can adjust the lot size based on risk tolerance. Additionally, this EA does not open more than two trades at a time, reducing the risk of overtrading, and does not employ risky trading strategies like martingale or grid trading.
Despite its many strengths, the Swing Trading EA may not be suitable for traders who prefer more complex trading strategies. It is optimized to work best on the 5-minute time frame and five specific currency pairs, which may restrict its effectiveness in certain market conditions. Additionally, traders should always backtest the EA and use proper risk management strategies to minimize potential losses.
Swing Trading EA Features
- Uses a combination of various basic indicators such as price action, trend, CCI, and PPO to analyze the market and place trades
- Works on the 5-minute time frame.
- Traders can trade only on the AUDCAD, CADCHF, EURUSD, NZDCAD, and USDCAD currency pairs.
- Allows traders to use different trading strategies based on price action and trends
- Compatible with both the MT4 and MT5 platforms, providing access to a range of tools and resources to support trading activities
- Can trade using a fixed lot or an auto lot
- Uses stop-loss and take-profit levels
- Does not open more than two trades at a time, reducing the risk of overtrading
- Does not employ risky trading strategies like the martingale or grid trading
- Traders can use the IC Markets, a regulated broker with low spreads, to optimize their trading experience.
Swing Trading EA Settings
- Lot Size Calculation Mode – Choose how the EA calculates lot size.
- FIFO/No Hedging – Enable FIFO and disable hedging.
- Virtual_Expiration – Use when pending orders have no expiration date.
- Base_MagicNumber – Basis for setting the EA’s MagicNumbers.
- Trade_comment – Comment used for all trades.
- Suffix – Set suffix used by your broker for pair names.
- Use FULL AUTOMATIC MODE – Fully automatic activation of suitable pairs with automatic lot size determination.
- Use LotsizeStep – Lot size calculated based on the LotsizeStep parameter.
- Use StartLots – Use the StartLots parameter as lot size.
- Risk Factor for FULL AUTOMATIC MODE – Set the desired risk for trading.
- LotSizeSteps – Set step for lot size increments (in combination with Use LotsizeStep lot size calculation mode).
- StartLots – Minimum lot size when using another lot size calculation mode.
- OnlyUp – If true, EA will not lower lot size when the account balance decreases (unless the EA is restarted).
- Percentage of Balance to be used by the EA (0-100) – Portion of balance allocated to the EA.
Swing Trading EA Summary
The Swing Trading EA is an automated forex trading robot that allows traders to access a range of basic indicators, use different trading strategies, and trade on diverse currency pairs.
The software is compatible with both the MT4 and MT5 platforms and can trade using a fixed or auto lot. With its risk management features, including stop-loss, take-profit levels, and a maximum of two trades at a time, the EA can help minimize potential losses.
However, traders should know that its optimization for the 5-minute time frame and five specific currency pairs may restrict its effectiveness in certain market conditions. They should always backtest the EA and use proper risk management strategies to mitigate potential risks. Overall, the Swing Trading EA can be a considerable tool for traders looking to use basic indicators to analyze the market and place trades.
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