Rebound Modify

Rebound Modify

If you are looking for an easy-to-use Expert Advisor, then this is what you need. No settings. All that is required of you is to choose a currency pair, a timeframe and allow automatic trading for the EA.

The strategy of the expert is based on the local support and resistance levels. When a candle closes beyond any level, an order is opened in the opposite direction, expecting a price rebound. The maximum number of orders opened at a time is limited to 3. This is a safety measure, which prevents opening a lot of deals against a trend when it is formed. The lot size is fixed to 0.01, therefore, it is suitable for working with the minimum deposit of 100 USD on a standard account.

The Expert Advisor does not work with the history, and starts fixing the levels again every time it starts. When a new support level is formed while open deals are present, the take profit of these deals is moved closer to the new level.

Make sure to test the EA before running it. To maximize the profit, for example, enable the EA when the latest trades in history were unprofitable, and disable it when the profit on the traded currency pair reaches 20-30 USD.