The world of Forex trading is ever-evolving, and traders need to keep up with innovative tools and strategies to remain competitive. One such tool that has been drawing attention is the SMak ZigZag EA. This Expert Advisor (EA) presents a dynamic approach to buy/sell orders, which could potentially optimize Forex trades for traders.
SMak ZigZag EA and Its Functioning
The SMak ZigZag EA operates based on the SM ZigZag indicator’s data. It places a buy order when the indicator signifies a downtrend (red line). The lot size can be set to either fixed or dynamic based on the user’s preference.
After the first buy order is placed, further buy orders are established after a specific step as long as the indicator does not form an uptrend (blue line). The step and lot size increment with each order, according to a pre-set coefficient. This continues until the SM ZigZag indicator indicates an uptrend, at which point all open orders are closed, and the EA starts placing sell orders following the same scheme used for buy orders.
The Role of SM Trend Cloud Indicator
The second indicator in the SMak ZigZag EA, known as the SM Trend Cloud, plays a vital role. It forms ‘clouds’ of two colors – green for uptrends and orange for downtrends. This color indication helps in determining the step and lot increase coefficients. If the cloud is green when a buy order is formed, the coefficients apply as usual. However, if the cloud is orange, the lot and step of subsequent orders remain equal to the initial value, which assists in reducing drawdowns during a sudden trend reversal.
Control Panel and Indicators
The EA features a control panel on the chart, which is adjustable in its orientation. However, changes to input data on the panel do not work in the strategy tester. To perform optimization, certain features need to be disabled. These include “ShowPannel”, “Draw_ZigZag”, and “Draw_AndZadC”. The settings of the EA and built-in indicators are intuitive and straightforward, allowing traders to easily adapt to the system.
Configuring the SMak ZigZag EA
There are a few considerations when setting up the EA. When “ReverceClose” is set to false, real bets are placed for stop and take, and the thrall operates. On the other hand, when “ReverceClose” is set to true, virtual bets are placed for stop and take, and the thrall does not work. These settings allow traders to customize the EA according to their strategies and risk tolerance.
Who Should Use SMak ZigZag EA?
The SMak ZigZag EA is ideal for traders who like to actively participate in the trading process and monitor its progress. However, traders should soberly assess the risks and strictly adhere to Money Management and Risk Management rules. The recommended timeframe for using this EA is D1.
FAQs
Where can I watch independent testing of the SMak ZigZag EA?
Independent testing of this product can be viewed on the forexroboteasy.com website.
How do I stay updated with the results of product testing?
You can subscribe to updates on the results of testing this product on the same website.
Can I share my experience of using this product?
Yes, sharing your experience of using the SMak ZigZag EA would be greatly appreciated. It helps prospective users make informed decisions.
In conclusion, the SMak ZigZag EA presents a dynamic and interactive approach to Forex trading, potentially providing traders with a tool to optimize their trades. As with any trading tool, users should carefully consider the risks and ensure they manage their investments wisely.
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