Unveiling The Features Of The POW Banker EA - Part Two.
Unveiling The Features Of The POW Banker EA - Part Two.
At POW, we’re constantly looking at new ways to improve the Banker EA and help traders take their trading to the next level.
Which is why this blog is all about unveiling some of the amazing features that we’ve coded into the EA to help improve our user experience.
And just in case you missed it, click here to have a read through part one!
Let's dive in.
Feature #1 - New and Improved Custom Session Times
One of our standout and most effective features to date is the option to use custom trading session times of your choice.
This was already a key feature of the Banker EA - however we’ve gone and taken it to the next level by making it even easier for members to backtest.
You can now select each individual trading session that you want to use and backtest, rather than setting the times yourself and potentially making mistakes.
This may be a small change, however these marginal gains go a long way when it comes to doing your backtesting - helping remove any confusion and saving you a little bit of time in the long run too.
It’s also another example of just how much we listen to our members' feedback and are willing to go the extra mile to improve our products and services.
Feature #2 - Advanced Forex Indicators
We already had EMA’s, RSI and ADX coded into the EA with great effect.
In fact, these indicators play a big role in building profitable set files as we believe that there is no ‘one size fits all’ approach to trading.
These indicators also enable you to cover ALL market conditions when trading with the Banker EA - whether that be trading with the trend, in a ranging market or trading reversals…we’ve got you covered.
However we haven’t stopped there.
We’ve now coded in Bollinger Bands to take things that little bit further.
The introduction of Bollinger Bands help us identify extreme trends - thus enabling members to either avoid extreme trends or trade extreme counter trends, which is great for trading against the trend with reversal strategies.
Again, marginal gains that make a big difference to the users experience when trading with the POW Banker EA.
Feature #3 - High Impact News Filter
This is a feature that we were hesitant to have coded into the EA, simply because we believe in only working with data led approaches and it seemed almost impossible to backtest using a high impact news filter.
However - for the first time ever…
(Yes, really for the first time ever - there's NO other EA on the market that can do this)
We have managed to find a way to accurately backtest high impact news and code it into the Banker EA, which has been an absolute game changer for our members.
This means that POW members can go about their day to day lives and not have to worry about switching off and managing their positions around high impact news.
The EA will work to the times you set and read high impact news from www.forexfactory.com/calendar
If set to TRUE, the EA will automatically stop entering positions before news and restart after news is finished.
If set to FALSE, the EA will continue trading as normal throughout the high impact news event.
Saving you time, stress and the hassle of constantly checking your accounts on days such as CPI, FOMC and NFP when volatility is high.
Feature #4 - Built In Equity Protector
Another amazing feature of the Banker EA is our built in, equity protector.
We have many options included in our equity protector - again based on how you wish to trade and manage your trading accounts.
Max Running Loss - There is where you input your max running loss based on OPEN positions for that individual pair/chart that the EA is attached to.
For example, if you input 1000 - the open trades will be closed once is reaches -1000 in open running loss.
Global Equity Stop (Type and Currency) - In the drop down menu we have three different ways to control how you want the equity stop to be handled.
Absolute Equity Stop (e.g. 96000) - this means the EA will stop trading once the equity of your account reaches 96000.
Risked Amount (e.g. 4000) - the EA will stop trading once the equity of your account reaches 4000.
Risked Percentage (e.g. 4%) - the EA will stop trading once the equity of your account reaches 4%.
We also have a ‘currency profit target’ AND an ‘ultimate equity target’ which is perfect if you want the EA to stop trading once you’ve reached your desired profit target for a prop firm challenge.
There are so many ways to trade the POW Banker EA that it’s almost impossible to do it justice in a blog post.
But just to reiterate once again, it’s far from being an EA with a one size fits all approach that blows your account at the first sign of volatility.
In fact, it’s entirely down to the user to design how they wish to trade, what market conditions they want to cover and how they want the EA to manage their accounts.
It’s one the reasons why our members are killing it in 2024 and long may it continue.
To your success,
The POW Team.
