Single Moving Average EA with a Price Channel and Optional Stops
Summary
This expert advisor uses one moving average to define a price channel. The upper boundary is the moving average plus a configurable ceiling, and the lower boundary is the moving average minus a configurable floor. It reads the moving average and current bar’s open, high, and low values, then evaluates entry conditions on every tick. A signal may be acted on when there is no existing position in the same direction. The indicator settings and channel parameters are exposed as inputs.
Stop loss and take profit can each be disabled by setting the corresponding parameter to zero. The document cautions that disabling the stop loss can leave losing positions open indefinitely because the EA may not close them. It mentions a sample EURUSD test on a 15-minute chart but supplies no performance figures or details about costs, test period, position sizing, or robustness. The stated logic is therefore a basic implementation description, not evidence of profitability.
Key ideas
- The EA derives channel boundaries from a single moving average and adjustable offsets.
- It evaluates entry signals on each tick using current bar data.
- It avoids opening another position in the same direction when one is already open.
- Stop loss and take profit are optional, but omitting a stop can leave losses unresolved.
- A EURUSD 15-minute test is mentioned without performance evidence or test details.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.