Chrysaora Colorata Expert Advisor - Comprehensive Guide

"Trade with Precision, Ride the Waves of the Market!"

Overview

The Chrysaora Colorata.mq4 Expert Advisor (EA) is a trend-following trading system based on the crossover of two Moving Averages (MA). It automatically opens and closes trades when the MAs cross, providing a systematic approach to trading in the Forex market.

Developed by R.KH 1001 and available on RoboMQL, this EA is designed for MetaTrader 4 and is suitable for traders who prefer automated strategies.

How It Works

The EA uses two Moving Averages (MA) to generate trading signals:

Fast MA (Ma1Period) – Shorter period (default: 12).

Slow MA (Ma2Period) – Longer period (default: 26).

Trading Logic:

Buy Signal: When the Fast MA crosses above the Slow MA.

Sell Signal: When the Fast MA crosses below the Slow MA.

The EA closes existing positions when a reverse signal appears.

Key Features:

Flexible MA Settings – Adjustable periods, methods (SMA, EMA, etc.), and price types (Close, Open, etc.).

Stop Loss & Take Profit – Risk management with fixed SL/TP levels.

ECN/STP Broker Support – Handles order execution differently for ECN brokers.

Real-Time Profit Display – Shows current profit/loss in the chart.

Settings & Configuration

1. General Settings

ParameterDescription

MagicNumberUnique EA identifier (default: 1001).

EcnBrokerSet true if using an ECN/STP broker (affects order execution).

LotSizeTrade volume (default: 0.01).

SlippageMaximum allowed slippage (default: 3 pips).

2. Risk Management

ParameterDescription

StopLossFixed SL in pips (default: 100).

TakeProfitFixed TP in pips (default: 100).

3. Moving Average Settings

ParameterDescription

BarToUseCandle reference (0 = current open, 1 = previous closed).

Ma1PeriodFast MA period (default: 12).

Ma1PriceFast MA price source (default: PRICE_CLOSE).

Ma1MethodFast MA calculation method (default: MODE_SMA).

Ma2PeriodSlow MA period (default: 26).

Ma2PriceSlow MA price source (default: PRICE_CLOSE).

Ma2MethodSlow MA calculation method (default: MODE_SMA).

4. Display & Information

ParameterDescription

DisplayInfoShows profit/loss on the chart (default: true).

Execution & Recommendations

Best Timeframe: Works on M15, H1, or H4 (adjust MA periods accordingly).

Currency Pairs: Suitable for major Forex pairs (EURUSD, GBPUSD, etc.).

Broker Compatibility: Works with both ECN and standard brokers.

Optimization Tips:

Test different MA periods (e.g., 5/20 for scalping, 50/200 for swing trading).

Adjust Stop Loss & Take Profit based on volatility.

Enable DisplayInfo to monitor performance in real time.

Developer & Source

Developer: R.KH 1001

Website: https://www.robomql.com

"Automate Your Strategy, Maximize Your Profits!" 🚀

Would you like a backtest report or additional customization tips? Let me know!