The SP500 Day Trading EA is a trading robot designed to operate on the M1 (1-minute) timeframe for the USA500IDXUSD (S&P 500 index) trading pair. This robot employs a technical indicator-based day trading strategy, using the Awesome Oscillator (AO), Average Directional Index (ADX), and Standard Deviation for trade entries and exits. It incorporates predefined stop-loss and take-profit levels to manage risk. Here is a brief overview of the strategy:
- Lot Size (Entry Amount): 1.00 (adjustable)
- Stop Loss: 6400 pips
- Take Profit: 7000 pips
- Indicators Used by the SP500 Day Trading EA:
- Awesome Oscillator (AO): Used for trend confirmation.
- ADX (Period: 19, Level: 0.0): Measures trend strength.
- Standard Deviation (Period: 33, Level: 4.1): Used for volatility assessment.
The SP500 Day Trading EA closes the trades when either the take profit (7000 pips) or stop loss (6400 pips) is reached. The large stop loss and take profit levels reflect a longer holding period despite being on an M1 timeframe.
For instructions, you can download our Free Expert Advisors Startup Guide before trading with the robots.
Disclaimer: This SP500 Day Trading EA is for educational purposes and is free to download. Get this Day Trading EA and test it on a Demo account. Traders should regularly monitor the performance to ensure it aligns with expectations.
