CHEETA FX

SOFTWARE ON FREE LOAN FOR USE FOR 99 YEARS

Cheetah FX – H1

General Description:
Cheetah FX is a *trend following* strategy based Expert Advisor (EA), specifically designed to trade the EUR/USD currency pair on an H1 (one hour) timeframe. The system aims to identify the current trend and capitalize on market movements by following the close direction of the previous hourly candle. Its approach is structured to carefully manage open positions, with the use of individual Stop Losses and a common Take Profit for all open trades.

Operations:
– Market: Forex, with focus on EUR/USD-
Timeframe: H1
– Operating Frequency: Normal Frequency

Strategy:
– Entry: The system opens trades at the beginning of a new H1 candle, based on the close of the previous candle. If the close of the previous candle is higher than the open, a *Buy* is performed; otherwise, a *Sell* is opened.
– Stop Loss: Set at 350 pips for each individual trade, which offers individual protection for each position.
– Take Profit: Set at 10 pips but applied on an aggregate basis, i.e. when the overall profit of all open trades reaches 10 pips, the system closes all positions.
– Brokerages: If the price moves against the initial position, the EA starts opening brokerage positions at a distance that can be set by the user, for a maximum definable number. This strategy helps to bring the overall balance back into profit.

Position Management:
– Brokerages: If the price goes against the initial position, the system initiates a series of brokerage operations at fixed distances (customizable). Mediations are used to reduce the overall drawdown.
– Closing positions: Once a total net gain of 10 pips is achieved among all open trades, the system closes all positions at once.

Strengths:
1. Individual trade protection: Each position has an autonomous Stop Loss, which ensures individual risk management.
2. Collective Take Profit: The system tries to close all trades at once the overall net profit is reached, avoiding premature closures of individual losing positions.
3. Flexibility of the brokerage strategy: The dynamic management of losing positions through brokerage allows the system to recover losses on unfavorable initial trades.

Final Thoughts:
Cheetah FX is a well-balanced system that combines a trend-following strategy with effective risk management through mediation and individual Stop Losses. However, you need to monitor the drawdown closely, especially in markets with high volatility.

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MyFxBook:

https://www.myfxbook.com/members/_ExpertAdvisor_/chee TA-H1/9969520