Stairsteps EA – Forex Expert Advisor

Metatrader consolidation zone (CZ) expert advisor that can trade breakouts (or within the CZ), by filtering entries based on the moving average indicator, ATR indicator, date/time and the forex news. The idea behind this MetaTrader breakouts expert advisor is to trade breakouts out of consolidation zones. It often happens that the price moves in a defined range (ie the price consolidates) for a while, and then it breaks out of these consolidation zones. When the price forms a consolidation zone, forex traders usually set pending orders above or below these zones.

The trend traders would probably place pending orders only in the direction of the trend, at the appropriate CZ (consolidation zone) end. When the price leaves the consolidation zone and hits the pending order(s), this trade will open. We do recommend trading with the trend and don’t just set random pending orders, and this is where RobotFX Stairsteps EA comes in to help.

This breakouts expert advisor can restrict trades to only long or short. In other words, the trader can set the expert advisor to buy – if the trend is up, or to sell – if the trend is down. This consolidation zones expert advisor uses the traditional stop-loss function. It does not hedge but it has many other options to manage the opened trades and your money. Before start trading using this consolidation zone expert advisor the trader is advised to test different settings and choose the lowest risk strategy. The EA’s settings might seem hard at first, but if you take your time to understand them and try different trading scenarios using the Strategy Tester you will understand them very fast.

Some of the main RobotFX Stairsteps features are: breakeven, trailing stop, stoploss, news filter, time filter (trading hours), weekend close, notifications, martingale (for the fans) and many other settings that will help you not only open a good trade, but also manage it along the way so it will close in profit.

Below are more example charts of trades opened and managed by this MetaTrader breakouts expert advisor. For the moment, try to ignore the result of these trades and focus on how the EA detects/draws the consolidation zone and how/where it places the trade (in these charts the trade management is done by a simple trailing stop, usually equal to the consolidation zone itself).

Stairsteps main functions

• detect and determine the consolidation zones
• enter trades when the price leaves these zones (if trading breakouts) and place stoploss, take profit, breakeven, trail the price etc
• restrict trading by days, hours, forex news releases and confirm trade signals my moving average, ATR

The idea behind this MetaTrader breakouts expert advisor is to trade breakouts out of consolidation zones. It often happens that the price moves in a defined range (ie the price consolidates) for a while, and then it breaks out of these consolidation zones. When the price forms a consolidation zone, forex traders usually set pending orders above or below these zones. The trend traders would probably place pending orders only in the direction of the trend, at the appropriate CZ (consolidation zone) end. When the price leaves the consolidation zone and hits the pending order(s), this trade will open.