RomanTik EA V3.0.2 MT4

RomanTik EA V3.0.2 MT4 ::

Let’s create a valuable content piece about the RomanTik EA V3.0.2 for MT4. This expert advisor (EA) is designed to trade on the MetaTrader 4 platform, and I’ll break down its key aspects for you:

A Brief Overview

The RomanTik EA V3.0.2 is an algorithmic trading system that operates within the MT4 environment. It aims to capitalize on specific market conditions using a well-defined strategy. Here are the essential details:

Key Features:

• Strategy: The EA employs a daily (D1) timeframe strategy.
• Pending Orders: It utilizes two types of pending orders: Buy Stop and Sell Stop.
• Currency Pairs: The EA focuses on the following currency pairs: EURUAD, USDCAD, and GBPUSD.
• Minimum Deposit: To get started, a minimum deposit of $100 USD is recommended.
• Timeframes: The EA operates on the H1 (1-hour) and M30 (30-minute) timeframes.

Trading Strategy

The RomanTik EA V3.0.2 follows a straightforward approach based on daily price action. Let’s delve into the specifics:

1. Daily Candle Check: At the beginning of each new trading day, the EA examines whether a new daily candle has formed.
2. Order Placement Logic:
   • If the condition “wickBuy > wickSell” holds true, the EA places a Buy Stop order at a price level slightly above the previous day’s high.
   • Conversely, if “wickSell > wickBuy,” the EA sets a Sell Stop order just below the previous day’s low.
3. Parameters:
   • PipsAboveHigh: Determines the distance (in pips) above the previous day’s high for placing the Buy Stop order.
   • PipsBelowLow: Specifies the distance (in pips) below the previous day’s low for the Sell Stop order.
   • StopLossPips: Sets the stop loss for both orders.
   • TakeProfitPips: Defines the take profit level.
   • LotSize: Determines the position size.
   • MagicNumber: Identifies orders placed by this specific EA.
   • Slippage: Accounts for execution variations.

Conclusion

The RomanTik EA V3.0.2 aims to capture favorable price movements based on daily candle patterns. Remember to adjust the default settings according to your risk tolerance and trading preferences. While live trading results are yet to be seen, backtesting results appear promising.