Stochastic Multi-Currency EA: Comprehensive User Guide, Backtest Results, and Optimized Set Files

Introduction

The Stochastic Multi-Currency EA utilizes the Stochastic Oscillator, a popular momentum indicator, to identify potential trend reversals and continuations. This EA offers customizable entry and exit strategies based on Stochastic parameters, along with advanced features like grid recovery, hedging, and martingale strategies. Designed for traders who want precise trade execution and flexibility, it supports multi-currency monitoring and trading.

You can download the MT5 version here 

Features Overview

Multi-Currency Trading

• Monitor and trade multiple currency pairs simultaneously.
• Example: EURUSD, GBPUSD, USDCHF.

Stochastic Strategy

• Entry and exit conditions are based on customizable Stochastic Oscillator parameters.
• Entry Strategies: Choose from four distinct entry conditions tailored to different trading styles.
• Exit Strategies: Select from five exit conditions or disable automated exits entirely.
• You can find the detailed description for the different strategies here 

Group Stop-Loss and Take-Profit

• Automatically close all trades if the combined profit or loss across all pairs meets predefined thresholds.

Recovery Strategies

• Grid Recovery: Adds trades in a grid pattern to recover losses.
• Hedge Strategy: Opens counter trades to manage risk.
• Martingale Strategy: Increases trade size progressively to recover losses.

Flexible Filters

• Day Filter: Enable or disable trading on specific weekdays.
• Time Filter: Define active trading hours to align with market conditions.

Position Sizing

• Dynamically calculate lot sizes based on risk or fixed lot settings.

Alerts and Notifications

• Receive notifications for important trading events via platform alerts or email.

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Input Parameters

Core Indicator Settings

1. Stochastic Timeframe

   • Select the timeframe for Stochastic calculation.
   • Default: PERIOD_CURRENT .

2. Stochastic Parameters

   • K Period: Number of periods used for the %K line calculation.
     Default: 14 .
   • D Period: Smoothing factor for the %D line.
     Default: 3 .
   • Slowing: Additional smoothing for %K.
     Default: 3 .
   • Moving Average Method: Determines the type of moving average applied (Simple, Exponential, etc.).
     Default: MODE_SMA .
   • Price Field: Price type used for calculations (e.g., High/Low, Close/Close).
     Default: STO_LOWHIGH .

3. Calculation Mode

   • Manual: Uses specified upper and lower Stochastic levels.
   • Auto: Automatically calculates levels based on the provided upper level.
   • Default: MANUAL .

4. Stochastic Levels

   • Upper Level: Overbought threshold.
     Default: 80 .
   • Lower Level: Oversold threshold.
     Default: 20 .

Entry Strategies (ENUM_ENTRY_STRATEGY)

Choose from the following entry strategies:

• ENTRY_STRATEGY1:
  • Buy Entry: Stochastic enters the oversold zone.
  • Sell Entry: Stochastic enters the overbought zone.
• ENTRY_STRATEGY2:
  • Buy Entry: Stochastic exits the oversold zone.
  • Sell Entry: Stochastic exits the overbought zone.
• ENTRY_STRATEGY3:
  • Buy Entry: Stochastic enters the overbought zone.
  • Sell Entry: Stochastic enters the oversold zone.
• ENTRY_STRATEGY4:
  • Buy Entry: Stochastic crosses below the oversold zone.
  • Sell Entry: Stochastic crosses above the overbought zone.

Default: ENTRY_STRATEGY1 .

Exit Strategies (ENUM_EXIT_STRATEGY)

Choose from the following exit strategies:

• EXIT_STRATEGY1:
  • Buy Exit: Stochastic enters the overbought zone.
  • Sell Exit: Stochastic enters the oversold zone.
• EXIT_STRATEGY2:
  • Buy Exit: Stochastic exits the overbought zone.
  • Sell Exit: Stochastic exits the oversold zone.
• EXIT_STRATEGY3:
  • Buy Exit: Stochastic enters the oversold zone.
  • Sell Exit: Stochastic enters the overbought zone.
• EXIT_STRATEGY4:
  • Buy Exit: Stochastic crosses above the overbought zone.
  • Sell Exit: Stochastic crosses below the oversold zone.
• EXIT_STRATEGY5:
  • Disables the exit strategy.

Default: EXIT_STRATEGY5 .

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How It Works

1. The EA evaluates Stochastic values for each specified currency pair.
2. Trades are executed based on the selected Stochastic entry strategy.
   • Example: A buy trade is triggered when Stochastic enters the oversold zone, or crosses below it based on your settings.
3. Trades are managed with optional exit strategies or left open for manual closure.
4. Recovery strategies (Grid, Hedge, Martingale) are applied as per the input settings.
5. All trades are monitored for cumulative profit or loss. If thresholds for the Group Stop-Loss or Group Take-Profit are reached, all trades are closed.

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Additional Features

Refer to the EA’s settings for configurations related to:

• Grid Recovery
• Hedge Strategy
• Martingale Strategy
• Day and Time Filters
• Position Sizing
• Alerts and Notifications