angel of salvation Version: 1.0

angel of salvation

Analysis and Explanation of the "Angel of Salvation" Expert Advisor
This expert advisor (EA) is a hedging trading system that uses the RSI indicator for the forex market. Below is a detailed breakdown of its functionality and trading logic:

"This bot has been meticulously optimized and completely redesigned to deliver peak financial performance for its users

General Specifications
Name: Angel of Salvation

Developer: John Wangombe Githinji

Programming Language: MQL4

Currency Pairs: All Pairs

Timeframe: M5 (but configurable)

Trading Strategy
This EA uses a hedging strategy based on the RSI indicator:

RSI-Based Signals:

Uses the RSI indicator on a higher timeframe (default: H1)

Buy Signal: RSI below 30 (oversold)

Sell Signal: RSI above 70 (overbought)

Option to reverse signals (REGEX_MODE)

Risk Management:

Fixed Stop Loss (SL) and Take Profit (TP)

Trailing Stop feature available

Progressive lot sizing (Martingale)

Maximum open trades limit (MaxTrades)

Special Features:

Option to close trades based on opposite signals (CLOSE_BY_OPP)

Drawdown Reduction System (DDR_ENABLED)

Account-wide profit target (AccountProfitTarget)

How It Works
Trade Entry:
The EA checks RSI conditions on the higher timeframe.

If RSI reaches oversold levels (Buy Signal):

Opens a buy trade if no position exists.

Closes sell trades if open (if CLOSE_BY_OPP is enabled).

If RSI reaches overbought levels (Sell Signal):

Opens a sell trade if no position exists.

Closes buy trades if open (if CLOSE_BY_OPP is enabled).

Open Trade Management:
Averages positions at predefined intervals (PipStep).

Increases lot sizes progressively (configurable multiplier).

Uses trailing stop for open trades.

Trade Exit:
Closes when average position reaches TP.

Closes when overall stop loss is triggered.

Closes when an opposite signal appears (if CLOSE_BY_OPP is enabled).

Money Management Features
Lot Sizing:

Configurable starting lot size (StartingLots).

Multiplier for increasing lots (1x to 2x adjustable).

Auto-risk management based on account balance (AutoMoneyManagement).

Risk Controls:

Maximum equity loss limit (UseEquityStop).

Time-based trade expiration (UseTimeOut).

Maximum open trades limit (MaxTrades).

Drawdown Reduction (DDR):

If open trades exceed a threshold (DDMaxOrders).

And combined profit of first & last trade reaches a target (DDProfitTarget).

Closes the first and last trade to reduce exposure.

Key Technical Notes
Uses a high-frequency timer (every 20 milliseconds).

Displays account & trade info on the chart.

Shows current, max, and min spread.

Includes an authentication system to prevent unauthorized use.

Limitations & Considerations
Martingale strategy requires substantial capital.

May underperform in strong trending markets.

Highly dependent on proper parameter settings.

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