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qFollow EA - expert for MetaTrader 4

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votes: 4
2011.12.05 10:12
2016.11.22 07:32
QFollow.mq4 (5.65 KB)view

This EA implements a trailing stop buy and a trailing stop sell. It places an order above the price and below the price. The sell stop order will fall with the price, the stop sell order will rise.

This expert advisor is used to manage a break out. You can place either a sell stop under the price or a sell buy above the price or both.

The sell stop order will be executed if the price falls below the trigger price. If the price rises, the trigger price also rises.

The buy stop order will be executed if the price rises above the trigger price. If the price falls the trigger prices falls also.

The trigger price starts with a distance from the price, for example 50 pips.

This expert advisor is not a trading system by itself, it is a tool which can be very profitable in some cases.

For example:

  • Set it up before a news comes out.
  • The price is in a triangle and we know it will break out either long or short
  • The price is falling without any reason, in this case we place a stop buy which falls also
Rj_HSlice 1.1 Rj_HSlice 1.1

Price levels Call / Put the lines of support / resistance.

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Many consecutive Heiken Ashi candles of the same color often indicate a soon and harsh trend reversal. This indicator shows the number of consecutive same color candles. So you can see overbought and oversold situation at first glance.

Figurelli RSI Figurelli RSI

In my opinion, Welles Wilder RSI (Relative Strength Index) is a great momentum oscillator that works fine for small periods values (from 2 to 20). So I did some changes to it performe as good for greater periods, like 120, introducing a gain variable.


Based on MACD.