The EURUSD Envelopes EA is an automated trading robot that utilizes the Envelopes indicator to determine trade entries and exits. It operates based on two different sets of Envelopes indicators, applied to the price chart to capture price deviations. This EA is designed for trend-following or reversal strategies, depending on how price interacts with the indicator bands. It works on various timeframes, though the ideal setting depends on the trading style (scalping, intraday, or swing trading). Strategy Overview:
- Entry Volume (Lot Size): 1.00 lot per trade.
- Stop Loss: 60 pips.
- Take Profit: 100 pips.
- Envelopes Indicator Settings:
- First Envelopes Indicator: Period = 25, Deviation = 0.50%.
- Second Envelopes Indicator: Period = 10, Deviation = 0.50%.
The Envelopes EA employs a dual Envelopes setup to identify trading opportunities. The indicator consists of two moving averages that form upper and lower bands based on a deviation percentage.
- Trade Entry Rules:
- The EA uses two different Envelopes indicators:
- Longer Period (25): Provides a broader trend outlook.
- Shorter Period (10): Responds quicker to price fluctuations.
- Buy signals are generated when the price touches or falls below the lower band of the shorter-period Envelopes, indicating a potential rebound.
- Sell signals occur when the price touches or exceeds the upper band of the shorter-period Envelopes, signaling a potential reversal or continuation of a downtrend.
- The EA uses two different Envelopes indicators:
For instructions, you can download our Free Expert Advisors Startup Guide before trading with the robots.
Disclaimer: This Envelopes EA is for educational purposes and is free to download. Get the Forex Trading EA and test it on a Demo account. Traders should regularly monitor the performance to ensure it aligns with expectations. 