The Tribal EA is an automated trading software tool designed to aid conservative traders. The development of this Expert Advisor (EA) spanned six months and boasts order control filter that tries to enhance its performance. Unlike other risky techniques such as martingale or averaging, Tribal EA always employs stop loss, take profit, and order closure based on additional filters.
Tribal EA Strategy
This trading strategy of Tribal EA is designed to operate on the M15 timeframe, utilizing multiple currency pairs including AUDCAD, EURCHF, EURJPY, GBPAUD, GBPCAD, and GBPUSD. The EA is programmed to initiate trades during night hours.
By targeting these specific currency pairs, Tribal EA try to tries to take advantage of market trends and price movements that may occur during the designated trading time. The use of technical indicators and price action analysis tries to helps to identify potential trade.
Tribal EA Features
- Minimum deposit required is $200 per 0.01 lot for trading, according to the developer.
- Tribal EA is optimized to work with spreads of 2-3 pips, making it suitable for trading on currency pairs with low spreads, as mentioned by the developer.
- The EA’s trading times are set to match the broker’s trading time in GMT+2 DST.
- The EA is designed to work with multiple currency pairs, providing traders with trading opportunities.
- Tribal EA’s settings are customizable, allowing traders to adjust the lot size, risk management, and trading frequency according to their preferences.
Tribal EA Settings
- All settings in points are given for 2-digit (JPY) and 4-digit quotes. Values are automatically multiplied by 10 for trading accounts with 3- and 5-digit quotes.
- General settings:
- UseAuthorSetFiles – use optimized properly tested unique sets. Set to false if you want to trade using your custom parameters.
- Set Name – the name of the user created set file.
- MagicNumber – a unique magic number.
- Slippage – Slippage pips
- Lots – default lot value.
- Auto Risk % – risk value as the percent of deposit per trade. The parameter is ignored if Lots is set to true.
- Raise Lot After SL (Multiplier) – multiplier for next order lot if last was closed in loss
- Max Spread – the maximum allowable spread value, above which the EA will not open orders; in points.
- Static Take Profit Pips.
- Dynamic TP Channel Percent – take profit value as the percent of the channel width. Static TP is disable if the parameter is set to > 0.
- Stop Loss – stop loss value in points
- Hedging Orders – allow opening opposite orders when a signal appears.
- Enter settings:
- Bollinger Period – Bollinger Bands indicator period
- Bollinger Deviation – the Deviation value of the Bollinger Bands indicator
- Min Channel Width – the minimum distance between the lines of the channel Bollinger Bands
- Filter Max Candle Size – maximum value of the previous candlestick, orders will not be opened if the candlestick was larger.
- Pause After Stop Loss – stop trading for the specified number of minutes after a losing trade.
- Trailing stop/Breakeven:
- Trailling Start – the distance in points from the opening price to activate Trailing Stop.
- Trailling Distance – distance of trailing stop from the current price.
- Breakeven – the distance in points from the opening price to move the stop loss value to breakeven
- EXIT SETTINGS
- Time Filter (minutes) – closing trades after the passage of time in minutes
- Min profit to exit – the minimum allowed profit in pips for closing by the time filter
- Exit Distance – close the order if it crossed the opposite side of the BB channel.
- Min profit to exit – the minimum allowed profit in pips for closing by BB channel filter
- MA Period – the period of the Moving Average indicator to exit when you change its direction
- Pips to close MA filter – the minimum allowed profit in pips for closing by the MA filter
- Trade Time Filter:
- TimeShift – broker’s time shift. Can also be a negative value.
- Start Trade Hour – EA trading start hour
- End Trade Hour – EA trading end hour
- Friday Stop Filter.
- Friday: Stop Trade Hour – Hour when all new orders stoped to open at Friday. When -1 – filter off
- Friday: Stop Trade Minute – Minutes when all new orders stoped to open at Friday. When -1 – filter off
- Other Settings:
- Show InfoPanel – show/hide information panel
- Show Label on chart – display labels with information
- Color InfoPanel – background color for the information panel
- Logs Type – Show logs on the chart
Tribal EA Summary
Overall, the Tribal EA targets specific currency pairs during night hours using hedging strategy. And by using a combination of technical indicators and price action analysis, Tribal EA tries to identify trading opportunities based on market trends and price movements.
It is important to note that while Tribal EA has been designed to aid traders, there is no guarantee of profitability, and users should exercise caution and risk management when using the software. Additionally, traders may want to consider testing the EA on a demo account before using it in live trading to become familiar with its features and performance.
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