EAINDY-ENVELOPES is an expert adviser based on Envelopes indicator. An order takes place when current market price touched the Upper or Lower bands of Envelopes and then reversed back in range of Upper and Lower bands. Filters by RSI to ensure that the price will not exceed over the oversold nor under overbought levels.

This Expert Advisor is intended for trading EURUSD H4. Terminal - MT4.

Input Parameters

Risk management

• Type:
  • Currency: Specifies risk in currency, for example trade for 5% of $5000 balance then input value will be 250.
  • Percentage: Specifies risk in percentage of free margin.
• Value: Specifies risk value according to Risk Type, EA will use this value to calculate Standard Lot size.
• Max Lot Size: Maximum allowed lot size in Standard Lot, for example 0.25 (only for Type = Percentage)

Buy operation

• BUY Operation: Specifies trade operation (BUY, BUY STOP)
• BUY@ (Pips): Order take place at price above current market price at the time of Buy signal is trig (only for BUY STOP operation).
• Order Expiration (Hours): Order expiration time (only for BUY STOP operation).
• Max Orders: Limits maximum orders for Buy positions.
• TP: Take Profit in Pips (will be multiplied by 10 for 3 and 5 digits brokers).
• SL: Stop Loss in Pips (will be multiplied by 10 for 3 and 5 digits brokers).
• Slippage: Maximum allowed slippage in Pips (will be multiplied by 10 for 3 and 5 digits brokers).

Sell operation

• SELL Operation: Specifies trade operation (SELL, SELL STOP)
• SELL@ (Pips): Order take place at price below current market price at the time of Sell signal is trig (only for SELL STOP operation).
• Order Expiration (Hours): Order expiration time (only for SELL STOP operation).
• Max Orders: Limits maximum orders for Sell positions.
• TP: Take Profit in Pips (will be multiplied by 10 for 3 and 5 digits brokers).
• SL: Stop Loss in Pips (will be multiplied by 10 for 3 and 5 digits brokers).
• Slippage: Maximum allowed slippage in Pips (will be multiplied by 10 for 3 and 5 digits brokers).

Protection

• SL Trailing Step: Move SL toward current market price (only when price is in profitable position, specifies in Pips).
• Trailing Period: How long to move SL.

Envelopes

• Period: The number of time periods used in the envelopes calculation.
• Deviation: Percent deviation from the main line.

RSI (Relative Strength Index)

• Period: The number of time periods used in the RSI calculation.
• Buy Level (Min/Max): Specifies range for Buy level.
• Sell Level (Min/Max): Specifies range for Sell level.