EA Magic Stoch

EA Magic Stoch is an expert advisor developed by the Forex Robot Easy Team. It is an enhanced forex software that utilizes Rainbow indicators and a modified stochastic oscillator to identify trading opportunities. This code serves as a sample implementation of the EA Magic Stoch strategy.

Features

• Rainbow Indicators: The EA Magic Stoch utilizes Rainbow indicators to generate trading signals. The Rainbow indicators are calculated using a specified period and method (e.g., Simple Moving Average). The Rainbow values are then used in conjunction with the stochastic oscillator to determine trading conditions.

• Modified Stochastic Oscillator: The EA Magic Stoch uses a modified version of the stochastic oscillator to identify overbought and oversold conditions in the market. The stochastic oscillator is calculated using a specified period and smoothing value. The main line of the stochastic oscillator is used to trigger trades when it crosses above or below certain threshold levels.

• Trade Execution: The EA Magic Stoch uses the Trade.mqh library to execute trades. When an overbought condition is detected, a sell trade is executed with a specified lot size, at the current ask price, and with a predefined stop loss and take profit levels. Similarly, when an oversold condition is detected, a buy trade is executed.

Usage

To use the EA Magic Stoch, follow these steps:

1. Include the required libraries: Trade.mqh and ArrayObj.mqh.

2. Define the input parameters:

   • Rainbow_Period: The period for the Rainbow indicators.
   • Rainbow_Method: The method for calculating the Rainbow indicators (e.g., Simple Moving Average).
   • Stoch_Period: The period for the stochastic oscillator.
   • Stoch_Smooth: The smoothing value for the stochastic oscillator.
   • Stoch_Level_Overbought: The overbought level for the stochastic oscillator.
   • Stoch_Level_Oversold: The oversold level for the stochastic oscillator.

3. Initialize the trading object and the Rainbow indicators in the OnInit() function.

4. Deinitialize the trading object and clear the Rainbow indicators in the OnDeinit() function.

5. In the OnTick() function, check if all Rainbow indicators and the stochastic oscillator are calculated.

6. If all calculations are ready, retrieve the Rainbow indicator values and the stochastic oscillator value.

7. Check for overbought and oversold conditions using the retrieved values.

8. If an overbought condition is detected, execute a sell trade with the specified parameters.

9. If an oversold condition is detected, execute a buy trade with the specified parameters.

Disclaimer

ForexRobotEasy is not the official developer of the EA Magic Stoch. This code is provided as a sample implementation of the strategy described in the product. For detailed reviews and trading results of the official product, please visit this link. To find the official developer of the product, please refer to MQL5.