PotenzaFX DLS Trader EA
The PotenzaFX DLS Trader EA is based on the PotenzaFX Powerlines indicator. The indicator calculates the power score of the 8 major currencies so that you can easily compare them and find those that are stronger than the other and viceversa find those weaker than the others. The strategy basically works by trading the crosses of the powerlines.
We also added the analysis of the correlation between the currencies to find the crosses that have more chances to give good results. We filter the crosses by only taking those that happen with a negative correlation score, meaning that the two currencies tend to “diverge” from each other that is the best situation for a good trend to happen.
This is basically the main strategy we use with the PotenzaFX Indicators set.
The strategy also uses the DLS (Dynamic Lot Sizing) money management strategy that increases/decreases the lot size used for trading based on the spread between the power scores of the two currencies we are trading.
The PotenzaFX DLS Trader EA uses exactly the same strategy and indicators.
It is an “autopilot” module for the PotenzaFX indicator set.
And here’s what it looks like:
The PotenzaFX DLS Trader EA is able to:
- check the power score of each of the 8 major currencies
- check the correlation score between them
- filter entries based on the correlation score (you can set the filter level value), so that you only pick up the pairs with the best potential to develop strong trends
- wait for a cross of the power scores to happen before entering the trade, so that it enters at the beginning of the potential trend and not when it is already “in fieri”
- can do inter-bar check and adjustments (you can apply it for example to a daily chart and have it check and adjust lot sizes every 4 or 6 hours). You can check every number of minutes for the check
- can be applied to any of the 28 potential currencies (the number depends on those available from your broker)
- can be applied to any timeframe even on the same platform
The PotenzaFX DLS Trader EA has a powerful text interaface that tells you in real time what’s happening and what is going to happen. In particular it shows:
– the power score of each of the two currencies (for the current and the previous bar)
– the spread value between the two currencies (for the current and the previous bar)
– the DLS lot size (for the current and the previous bar)
– the open orders lot size for that pair (along with the difference with the DLS one)
– the correlation score
– if a cross of the powerscore just happened
– the closed profits and the value of the open trades
– a “gauge” always tells you that the EA is alive and running and if the correlation is good or not for trading
– the background color of the interface tells you in real time what’s the spread between the power scores of the two currencies of the pair you applied it too. It goes from green (positive spread so long on tha pair) to red ( negative spread so short on the pair). Passing from black (spread around 0). The brighter the color, the wider the spread.
That for each of the 28 potential currency pairs and for any of the timeframes you decide to trade!
The EA automatically calculates a magic number based on the pair and the timeframe you applied it too. So if you want you can trade multiple timeframes for the same currency pair. For example, you can trade EURUSD 4H and EURUSD 1D by simply applying the EA to two different charts.
As we said, PotenzaFX DLS Trader EA has been developed as an “autopilot” module for the PotenzaFX trading system. So it’s not a “stand alone” EA.
It needs that you own and have installed in your MT4 platform:
- PotenzaFX Powerlines (mandatory)
- PotenzaFX Correlations (optional, but required if you want to use the “correlation check” entry filter)
You don’t need to apply them to the charts (and to keep the CPU load as low as possible we suggest you not to do) as the EA will do the “calls” it needs to the above indicators.