Trend following and retracement strategy EA.
CabEX is designed to trade GBPUSD on the H1 time frame.
The trading strategy is based on elimination of noise by considering only the H1 close for most part of the strategy. Hourly High/Low values are considered for calculating the ranges, but trade management is based on closing values only.
This effectively filters away most part of the noise. The startegy is based on price action near moving averages - The EA identifies potential trends and reversals moves. Protective SL is placed on the server side at 120 pips and TP is set at 500 pips. These levels are very rarely allowed to be touched. The EA uses a hidden stoploss at 60 pips. Close below the hidden SL will close the trade. The hidden TP is at 300 pips. The EA has a very dynamic trailing SL system which moves the hidden SL to breakeven when the gain is above 50 pips. When the trade gains 100 pips, the hidden TSL is set to 50 pips. The levels are adjusted for every 50 pips. The EA attempts to give maximum space for the trade to work its way towards higher gains and attain a risk:reward of 1:1.5 - This is very important part of the strategy.