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Showing posts with the label trade consolidations

Stairsteps Expert Advisor

The main idea behind the trading strategy of RobotFX Stairsteps expert advisor is to trade breakouts of consolidation zones. It often happens that the price moves in a defined range (ie the price consolidates) for a while, and then breaks out of these consolidation zones. When this happens, many traders set pending orders above or below these zones - if they are following the trend, or at both ends if they are uncertain of the trend - in this case traders should consider using an OCO (one cancels other) approach. When the price breaks out of the CZ (consolidation zone) and hits the pending order(s), a trade will open.

To better understand how the RobotFX Stairsteps EA works please check the screenshot below. As you can see, the trend is down. The price goes down step by step, just like a stair. The stair steps are the consolidation zones. RobotFX draws the CZ and enters short trades as soon as the price leaves the consolidation zone, down.
We do recommend following the trend and don’t…