PA Trade stands for Price Action Trade. I created this EA with one thing in mind: the EA must perform all years with one single setting. And I’ve done just that. The EA uses price action patterns to select its trades on the daily charts.
The best way to use the EA is by letting it run on all 16 pairs (or more in the future) and trade the market as a whole. That way, the risk is spread among the different pairs and the growth curve is much smoother. Further optimization for other pairs will follow in the near future. Remember: you will never need to optimize it again in the future once a pair is optimized! PA Trade is developed for the daily charts!
Key Advantages of the EA:
PA-TRADE uses 3 different trade-entry strategies combined in 1 EA:
– Strategy 2: PINBARS: The formation of a pinbar on a daily charts is a clear indication that the price is being rejected at a certain level. These pinbars are a good price action pattern to consider when looking for profitable trades. PA-TRADE detects these pinbars and selects a good entry point for the trade (sometimes at the break of the pinbar, sometimes at a retracement of the pinbar).
– Strategy 3: HIGH/LOW BREAKOUTS: When the price break through the high or low of a longer period on the daily charts, it is a good indication that price will move to new highs or lows. PA-TRADE trades these breakouts always respecting a good Risk/Reward ratio.
– NEW!! Strategy 4: ENGULFING BARS (see below): When the daily candle of the previous day totally engulfs the daily candle from the day before that one (close above the ‘high’ of a bearish bar, or close below the ‘low’ of a bullish bar), is an indication that the price will move strongly in that direction, especially in a strong trend.
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