Price Action Bot - hidden TP and SL
This bot is unique in its kind and extremely useful for price action traders
Price action trading in stealth mode
What is price action trading
Price action trading refers to the practice in forex trading of making all your decisions from a clear price chart – also called a stripped down or “naked” price chart.
A clear price chart implies that a forex trader will usually not use forex indicators or other analysis techniques, except, maybe some moving averages that may help to indicate resistance and support areas. Even so, the indicator will be given truly little weight in the final decision process. Price action mainly refers to the price movements of a currency plotted over time on a chart.
The rational basis for price action is that price charts display all the data about the movement of price within a market over varying time periods. All the economic data and world news that cause price movement are eventually portrayed via price action on the price chart of the forex market.
True price action traders usually are not concerned why something happens but are convinced that the only reliable source of information is the price itself. Price action trading is one of the most effective and straightforward trading strategies in forex training. Although, misunderstandings as well as misleading information and advice may confuse traders and set them up to fail and quit.
About this robot
This price action robot is used in a semi automated way. What it does is to pick up trades whilst price action occurs. For example; if at 14pm a news event occurs, you can set this EA in the morning according to your settings and just go to work. The EA will then either make a trade at 14pm if the parameters were met. However there is a way how to put this EA on auto pilot, but that needs a little more skills. More about this in the tutorial page.
How to test this EA
For this back test we used the EURUSD pair. While you are asleep, a news event occurs. For this you can set your EA to enter a trade whilst you are dreaming about profits. The news event takes place at 2.20 AM. So I set the EA as follows:
If price moves 20 pips from 02:19 am till 02:30 am then enter market with either a long or a short. tp: 100 pips, sl:50 pips.
As you can see, the EA is activated at 02:19 am, when the horizontal line pops up. I did not use a trailing stop but you can that yourself.
This EA is perfect to pick good moments and trade according to your price action settings.
Free membership telegram
Frequently asked questions
Yes, you can purchase a license here
Absolutely! Our support will help with the installation of your VPS and the installation of the EA.
After your account is set up, we will help you with the settings to meet your risk appetite.