Step into the future of automated trading with the TradePulseFX. This algorithm combines two of the most popular and proven technical indicators: the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI).
Optimized for 15-minute Charts: While this algorithm was crafted specifically for the EURUSD pair on a 15-minute timeframe, it has also shown significant promise on AUDUSD, GBPUSD, and EURGBP. Some slight adjustments to the MACD parameters may be required for these pairs.
Dual Indicator Strategy: The strategy synergistically combines the power of MACD and RSI. The MACD aids in identifying momentum and trend direction, while the RSI assists in recognizing overbought or oversold conditions.
Flexible Parameters: Users can easily adjust key parameters like the MACD Fast, Slow, and Signal periods, RSI overbought/oversold levels, and the RSI period, ensuring adaptability to different market conditions or trading styles.
Take Profit Functionality: The algorithm comes with an adjustable take profit level, ensuring that trades are closed at predefined profit points.
Position Management: Automated position management is embedded in the code. Before initiating a new trade, the algorithm ensures that any opposite positions are closed, allowing for efficient capital utilization.
Volume Control: Users have the flexibility to set their desired lot size, allowing them to control and manage their trading risk effectively.
For optimal performance, traders are advised to deploy this strategy on the mentioned currency pairs, primarily focusing on the 15-minute chart for EURUSD. When extending its use to AUDUSD, GBPUSD, or EURGBP, a slight tweak to the MACD parameters might enhance its effectiveness.
It's important to remain cautious during significant news events which can introduce unexpected volatility in the market. As a guideline, users are recommended to halt the algorithm for approximately an hour during high-impact news events. A handy reference for such events can be found at Forex Factory's Calendar.
Past performance is not indicative of future results. Trading Forex involves substantial risk and may not be suitable for all investors. Always trade responsibly.
// // The author hid the code of this algorithm
- Type: Paid
- Language: C#
- Trading Platform: cTrader Automate
- Filename: TradePulseFX.algo
- Rating: 5
- Installs: 0