Comprehensive Explanation of the "Conquest of Space.mq4" Expert Advisor
This Expert Advisor (EA) is designed for MetaTrader 4 and combines price action, technical indicators, and advanced risk management. Its primary focus is trading the GBPUSD currency pair during the Frankfurt and London trading sessions. Below we examine its key components and trading logic:
🔹 Core Features of the EA
Trading Strategy:
Combination of price action signals (Pin Bars, Engulfing, Harami) with indicator filters (WPR, AO, ATR)
Special focus on volatility during Frankfurt (6:00 GMT) and London sessions
Implementation of intelligent Grid trading technique for risk mitigation
Risk Management:
Dynamic Stop Loss (SL=500 pips) and Take Profit (TP=50 pips) settings
Trailing Stop functionality (Trailing=true) with specified distance (TrailingExtra=50)
Lot calculation based on either account risk percentage (risk=40) or fixed lot size (LOTS=0.05)
Entry Filters:
Detection of bullish/bearish Pin Bars with specific conditions (e.g., price position in upper/lower third of candle)
Volume filter (no trading if current candle volume is lower than previous)
Spread filter (no trading if spread exceeds 20 pips)
Exit System:
Automatic position closing based on reversal signals or TP/SL achievement
WPR indicator confirmation for signal validation
✅ Advantages:
Intelligent combination of price action and indicators
Professional risk management (stop loss, trailing stop, dynamic lot calculation)
Optimized for GBPUSD and high-volatility trading sessions
Save time withd software.
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