EForT-Empowered Forex Day Trading
In the modern day, trading currencies in the Foreign Exchange Market (Forex) has become increasingly accessible to the average individual. While accessibility has increased drastically, the ability to continuously monitor, correctly analyze, and consistently create profitable trades in the Forex market is still a challenge to even the most notable analysts. This project tries to attack this challenge by using a tried and tested method of analyzing the market with an automated trader to efficiently and continuously monitor the market for profitable trades. The strategy utilized is called the Gordon Strategy, and it is made up of 3 major indicators: a Relative Strength Index (RSI), Bollinger Bands (BB), and A Moving Average Convergence/Divergence oscillator (MACD). This was paired up with Support and Resistance lines as well as a Moving Average Stop Loss to further increase profits and decrease losses. To implement this strategy, the MetaTrader5 environment was used, a popular Forex automated trading environment. This document presents the information necessary to gain a good understanding of the EForT- EFDT project.