EA Element Premium

Overview of the Expert Advisor (EA):

This Expert Advisor operates by using support and resistance levels to guide its trading decisions. Unlike many trading robots, it does not rely on martingale strategies but instead manages a network of orders for safer and more stable trading. Designed for simplicity, it works well right out of the box with default settings. The EA is best suited for currency pairs like EURUSD, AUDUSD, USDCAD, USDCHF, and CHFJPY on the H1 timeframe.

Key Features and Input Parameters:

• New Cycle:
  When activated, the EA runs continuously, opening new orders without pause. If disabled, it will stop opening new trades after completing a series.

• Initial Lot:
  Defines the starting size of each trade.

• Autolot:
  Automatically calculates the lot size based on the deposit, making risk management easier. This feature can be turned on or off.

• Autolot Size:
  Sets the deposit amount that the autolot calculation uses to determine the appropriate lot size.

• Part to Close:
  Specifies how many parts of an order will be closed when the take profit target is hit, allowing partial closures to lock in profits.

• Distance:
  Controls the spacing between subsequent orders, helping to manage entry points within the network of trades.

• TP Grid (Take Profit):
  Defines the take profit level in points for each trade.

• Stop Loss:
  Sets a stop loss value in points. Entering zero disables the stop loss feature.

• Max Spread:
  Limits the maximum spread allowed for opening or closing positions, helping to avoid unfavorable market conditions.

• Start Hour & End Hour:
  Defines the time window during which the EA is allowed to open its first order each day.

• Show Statistics:
  Option to display or hide live trading statistics on the chart for easy monitoring.

• Show Button Close:
  Enables or disables a handy button to quickly close all open orders.

• Magic EA:
  A unique identifier number for the EA’s trades, ensuring it manages only its own orders.

• TF (Timeframe):
  Sets the timeframe used to calculate support and resistance levels.

• Rcolor, Scolor, TxtColor:
  Customize the colors of the resistance levels, support levels, and text displayed on the chart for clarity.

Summary:

This Expert Advisor offers a balanced approach to trading by focusing on key support and resistance levels while avoiding risky martingale tactics. It’s user-friendly, adaptable, and optimized for popular currency pairs on the H1 timeframe. With flexible settings for lot size, trade management, and risk control, it’s a practical tool for both beginner and experienced traders.