Simple Swing

The SimpleSwing is an Expert Advisor (EA) for MetaTrader 4, designed for swing trading, a strategy that aims to capture price movements or “swings” in financial markets. Swing traders typically hold positions for several days to weeks, focusing on medium-term price trends rather than short-term fluctuations. The objective is to enter trades at points where the price is likely to change direction, profiting from upswings and avoiding losses during downswings. Swing trading combines aspects of both trend-following and countertrend strategies.

Key Features:

Input Parameters:

• stopLoss: Defines the stop loss level in pips.
• trailingStop: Sets the trailing stop level in pips.
• takeProfit: Specifies the take profit level in pips.
• riskPercentage: Determines the risk percentage per trade.
• tradingHourStart and tradingHourEnd: Define the trading hours in a 24-hour format.
• useRiskPercentage: If enabled, the EA calculates the lot size based on the risk percentage; otherwise, it uses a fixed lot size.
• fixedLotSize: Specifies the fixed lot size if useRiskPercentage is disabled.

Trading Conditions:

• Buy Condition: Executes a buy order when the RSI crosses below the oversold level. The EA calculates the entry price, stop loss, and take profit levels, determines the appropriate lot size, and ensures it falls within the allowable range before placing the order.
• Sell Condition: Executes a sell order when the RSI crosses above the overbought level. The same calculation and validation process as the buy condition is applied.

Order Execution and Error Handling: The EA utilizes the OrderSend function to execute buy or sell orders, with built-in error handling to manage any issues during order placement.

This EA relies on the RSI indicator to make trading decisions based on overbought and oversold market conditions. Users can customize various input parameters to suit their trading preferences. The risk management options allow for the selection of either a fixed or dynamic lot size based on the specified risk percentage.

Please Note: This is an automated EA for using RSI with take profit, stop loss, and trailing stop loss features. It is intended to be part of a broader trading strategy. We do not provide settings or backtesting results, which is reflected in the affordable pricing.