Double Extreme EA is an automated forex robot designed to assist traders by identifying and leveraging market extremes. It employs a mid-term strategy based on the analysis of extreme points formed by indicators and compares them to the extreme values of the market price.
Key Features
- Automated Trading: Double Extreme EA operates autonomously, making trading decisions based on predefined algorithms without the need for manual intervention.
- Extremum Analysis: The EA defines two extremums using indicators and compares these with market price extremes to identify trading opportunities.
- Algorithmic Approach: The algorithm divides the last 40 bars into sections to find and compare extrema. This involves nested loops and zone division to ensure accurate analysis.
- Divergence Detection: By comparing the numbered extrema with the price, the EA detects either divergence or consistency, which informs its trading decisions.
Functionality
- Data Analysis: The EA examines the last 40 bars and divides this data into two parts, further splitting each into three sections.
- Extremum Identification: It identifies extremums within these sections and assigns them numbers.
- Comparison: These extremums are then compared to the market price to determine whether there is a divergence or consistency.
- Trading Decisions: Based on this comparison, the EA decides whether to enter or exit trades, aiming to capitalize on identified market movements.
Recommendations
- Practice on a Demo Account: It is advisable to practice using Double Extreme EA on a demo account to understand its behavior and performance before transitioning to a live account.
- Risk Management: Ensure proper risk management strategies are in place, as the EA's performance can vary based on market conditions.