Reborn Expert Advisor is one of the Investment Castle products exclusively available in the mql5 Market. This EA was created after realizing the differences in the time frames being followed between the trading sessions.
This EA has two strategies built-in using either SL and TP or Martingale.
This is the primary feature of this EA besides the control of the entry orders as follows:
Entry Method lets you choose from two options:
- Based on Indicator Signal, obviously when Blue → opens Buy and when Red → opens Sell. Then it will wait for the next trading session. This is best to be used with SL and TP.
- Based on Trend Color, where the EA will continuously open trades following the #trend-indicator entries, if Blue → Buy and if Red → Sell. This is best to be used with Martingale.
Period Multiplier is where the #trend-indicator entries come into play. The lesser the multiplier, the more frequent the change in the signal “following ATR calculations” and the higher the multiplier, the less frequent and more stable the new signal. Keep it at 1 proven to be the best.
These are obviously the trading sessions, and I added an option under each trading session to choose the time frame the EA will follow.
New York traders normally follow the Daily time frame, but Sydney traders follow H4, just from experience and these options require optimization for each symbol.
You may always observe major pullback in the price at the start of London session and later the pullback will revert and continue the trend of the previous trading session and you will either have to wait for another day for the profit to go back to the same level before the start of London session or accept the reduced profit or fight drawdown.
Reborn EA is equipped with a powerful filter for limiting your trades to certain days during the week. This is for example to avoid trading on Fridays where the NFP event is on every last Friday of every month.
Money management settings as previously explained in another topic.
This menu is for choosing the trading strategy whether you prefer to trade using SL and TP or Martingale and filters.
If you choose SL, the Distance in the following menu will be the distance to SL, otherwise the Distance will be the distance between the martingale orders.
Close open series / single orders when the TP Money = 10 means 10 USD / EUR / GBP whatever the currency of your account. It is fixed for single orders / martingale series to reduce the inputs for easier and quicker optimization of all symbols.
Obviously, the mobile notifications for sending push notifications on the profit/loss of every symbol at the end of every trading session.
The main objective when creating this EA is to minimize the number of inputs for easier optimization of the symbols.
These are the common magic number and visual settings, but the Maximum Open Trades at the Same Time and Maximum Trades Allowed for Each Session are the main inputs to play with.
Maximum Open Trades at the Same Time
User chose 2, the EA will allow 2 trades to be open at the same time if the next signal is opposite to the previous signal.
Maximum Trades Allowed for Each Session
User chose 3, the EA will open 1st trade and once closed in profit, it will open the next trade and once closed in profit it will open the next 3rd trade and once it is closed in profit the EA will stop until the next session.
The EA will be published in the mql5 market soon, stay tuned for the updates on this topic.