Expert Advisors

Momentum Trader 2

Developer: FXCM

The Momentum Trader 2 EA buys and sells depending on the value and direction of the Awesome Oscillator indicator. The Awesome Oscillator indicator is a popular technical indicator developed by Bill Williams. The indicator displays the current market momentum by plotting the difference between the 5-period simple moving average and the 34-period simple moving average.

BUYING LOGIC

When the Awesome Oscillator indicator’s value increases, a buy trade is opened by the Momentum 2 Trader EA.

Note: Used as an oscillator, this EA will always have a trade open (once the initial buy or sell trade opens). Trades close when the indicator’s value decreases, and subsequently, a new sell trade is opened. All trades open and close at the close of the current candle. Stops and limits are not used.

SELLING LOGIC

When the Awesome Oscillator indicator’s value decreases, a sell trade is opened by the Momentum 2 Trader EA.

Note: Used as an oscillator, this EA will always have a trade open (once the initial buy or sell trade opens). Trades close when the indicator’s value increases, and subsequently, a new buy trade is opened. All trades open and close at the close of the current candle. Stops and limits are not used.

INPUT

The following user defined inputs are available:

Money Management Inputs

    • MagicNumber: A unique identifier that allows the EA to account for and manage its trades
    • LotSize: The number of lots traded
    • MaxDeviation: The maximum slippage allowed (in pips)
Risk Disclaimer

The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.

Requirements

This Expert Advisor (EA) is only compatible with FXCM MetaTrader 4 software. It does not operate on MetaTrader 4 software provided by any other brokerage. Additionally, an FXCM account is required (including free FXCM demo accounts).