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2014.12.10 10:33
Experts

Murrey EA - expert for MetaTrader 4

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votes: 15
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.

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