Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2014.12.10 10:33
Experts

Murrey EA - expert for MetaTrader 4

| English Español Português 日本語 Deutsch

Views:
18669
Rating:
votes: 14
Murrey_EA.mq4 (31.08 KB)view

New: Version 4.

This Expert Advisor is based on Murrey lines, Stochastic oscillator, Candles, Bollinger Bands.

  • Oversold occured when price breaked level 8/8 and stochastic >70 and target level 7/8  , with auto trail, when candle close above 8/8
  • Overbought occured when price breaked level 0/8 and stochastic<20 and target level 1/8 , with auto trail, when candle close bellow 0/8
  • What's new   : V4  -> no order modify error 134 ,  and I will always update EA when I have time....

You must download murrey template before using EA to understand the functionality , Murrey auto detect     support and resistance , pivotal point ...  on a cetain timeframe 

If you do not know what is Murrey please view this links: https://www.mql5.com/en/code/101, https://www.mql5.com/en/code/8570.

Algorithms

I develolped level 1/8 and level8/8, other algo in next version...

Recommendations:

  • I. 5 digits pair
  • II. Best timeframes: M15,M30,H1,H4
  • III. Please follow the trend before running EA , you can disable buy by setting. Enable Buy :false , you can disable sell by setting Enable Sell:false

So EA will work good when you take a look at the trend and follow only the trend, disable Short or Long.

This is not the final version yet and I will always update this EA...

Money management

Do not risk, because minimum timeframe to EA to work good is M15.

Murrey EA

Accelerator Oscillator (AC) Accelerator Oscillator (AC)

The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.

Average Directional Movement Index (ADX) Average Directional Movement Index (ADX)

The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.

Example of MACD Automated Example of MACD Automated

Code example of MACD automated with advanced money management function.

Pivot Star Pivot Star

Pivot indicator. Standard, Fibonacci, Camarilla, Woody's, Demark. Calculates pivot points from previous bar of chosen period (M5 - MN).