Overview:
The trading robot is an software designed to operate on the EUR/USD currency pair.
It is optimized for an H1 (one-hour) trading timeframe, suitable for traders looking for a balance between short-term and medium-term trading strategies.
Technical Indicators Used:
Relative Strength Index (RSI): The robot incorporates the RSI to measure the velocity and magnitude of directional price movements. It helps identify overbought or oversold conditions in the trading of an asset.
Bollinger Bands: This feature allows the robot to measure market volatility and identify overbought or oversold conditions. The bands adjust themselves based on market conditions, tightening during less volatile periods and expanding during volatile periods.
Simple Moving Average (SMA): The robot uses the SMA to smooth out price data by creating a constantly updated average price. This average is used to identify the trend direction and provide potential areas of support and resistance.
Development and Testing:
The robot has undergone extensive backtesting on historical data to ensure robust performance and risk management.
Forward testing through simulation in real-time market conditions has been conducted to validate its effectiveness before commercial release.
https://www.mql5.com/en/market/product/117416
