Profit 20 PRO EA

Type of EA: The Profit 20 PRO EA is a Trend-Following and Price Action strategy-based Expert Advisor, designed to take advantage of price momentum and market reversals. It uses specific candlestick patterns, such as pinbars, along with technical indicators to enter trades with high precision. This EA is suitable for traders looking for a combination of trend-based and reversal strategies with built-in risk management tools.

RECOMMENDATIONS:
PAIR: BEST EURUSD

TIMEFRAME: ALL BUT BEST M5

ACCOUNT TYPE: ECN or Zero Spread

LEVERAGE: 1:500

(This EA includes 1 preset)

Functionality and Strategy:

1. Entry Strategy: The EA’s core strategy revolves around identifying key price action patterns, specifically bullish and bearish pinbars, which signal potential market reversals. It uses the Williams’ Percent Range (WPR) to measure overbought/oversold conditions, and the Awesome Oscillator (AO) to confirm the market’s momentum. When both conditions are aligned with a pinbar formation, the EA enters the trade either long or short.
2. Candlestick Pattern Recognition:
   • Bullish Engulfing: Signals strong buying pressure.
   • Bearish Engulfing: Indicates selling momentum.
   • Doji at Bottom/Top: Marks potential reversals, confirming exhaustion in current market direction.
3. Multi-Indicator Filtering: The EA dynamically filters the market with WPR and AO indicators, ensuring it only enters high-probability trades. It avoids noisy signals and only trades when the market meets strict criteria, combining both trend and reversal analysis.
4. Pinbar Confirmation: The EA’s pinbar detection is central to its trade execution. It looks for long wicks (nose) on the pinbar, indicating strong rejection from key support/resistance levels. The EA calculates this based on volatility and price movement.
5. Timeframe and Currency Pairs: Optimized for M5, this EA operates on the EURUSD, GBPUSD, and AUDUSD pairs, taking advantage of frequent short-term price movements.
6. Risk Management and Trailing Stop:
   • Stop Loss: Default Stop Loss is set at 500 points, ensuring protection against sudden adverse movements.
   • Take Profit: Fixed Take Profit at 50 points to capitalize on short-term price fluctuations.
   • Trailing Stop: As soon as the trade moves favorably, the EA activates a trailing stop to lock in profits and reduce exposure.
7. Market Filters: To ensure better trade execution, the EA monitors the market spread. If the spread exceeds 20 points, the EA halts trading to avoid entering during high transaction cost periods.
8. Order Management: The EA efficiently manages open orders by closing opposite trades when new signals are confirmed, ensuring alignment with the prevailing market direction.

Why Use Profit 20 PRO EA?
This EA is designed for traders who want a sophisticated system that combines both trend-following and reversal strategies. It adapts to changing market conditions using multi-layered confirmation techniques, avoiding whipsaws and maximizing profit potential through precise entries and risk control.