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Experts

Wedge pattern - expert for MetaTrader 4

Aharon Tzadik
Views:
16843
Rating:
(22)
Published:
2019.07.14 20:53
Updated:
2024.02.01 11:50
Wedge pattern.mq4 (129.62 KB) view
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"Wedge pattern" naked trading price action EA draws 2 mini Trend Lines with "Fractals" on chart and trades with Wedge pattern strategy,has Trailing Stop Loss &Take Profit works with all time frames major forex pairs and stocks NASDAQ.

The concept of this price action EA is:

In a falling wedge, both boundary lines slant down from left to right. The upper descends at a steeper angle than the lower line. Volume keeps on diminishing and trading activity slows down due to narrowing prices. There comes the breaking point, and trading activity after the breakout differs.

Wedge pattern

Wedge pattern

Try it on demo first.

You choose how to trade: only with the price of open candle or every tick !

If you do not want to trade with increasing lot size when you lose  a trade set:"IncreaseFactor=0"


I combined together a simple EA with two moving averages and Trend Line,

The Trend Line do not work on test mode,

The optimization tests can be performed only with moving averages,

In live trading only, Trend Line and moving averages will work together,

During tests, the EA  only draws the Trend Line on the screen in  visual mode without considering it in the creation of trades,

The Trend Line will function as a filter .

In this situation the probability of winning trades increases.

Inputs

    •  Use_TP_In_Money- Use Take Profit In Money (values:true/false).
    •  TP_In_Money- Take Profit In Money   (values: 10-100).
    • Use_TP_In_percent- Use Take Profit In Percent (values:true/false).
    • TP_In_Percent- Take Profit In Percent (values: 10-100).
    • ------------[Money Trailing Stop For Multiple Trades]----------------------
    • Enable_Trailing-Enable_Trailing with money  (values:true/false).
    • Take Profit In Money (in current currency) (values: 25-300).
    • Stop Loss In Money(in current currency) (values: 1-20).
    • --------------------------------------------------------------------------------------
    • Exit= Close trades if the trend is against you and control draw dwon (values:true/false).
    • tick=If "tick"=false-every tick\If "tick"=true -open prices  (values:true/false).
    • Lots - Lots size (values: 0.01-1).
    • Lots size Exponent  (values: 1.01-2).
    • IncreaseFactor -how much to increase lots from total margin if you lose a trade (values: 0.001-0.1).
    • Stop_Loss - Stop Loss (values: 30-500).  /set value 600 for  Multiple Trades
    • MagicNumber - Magic number (values: 1-100000).
    • TakeProfit - Take Profit (values: 50-200).  /set value 600 for  Multiple Trades
    • FastMA - Fast Moving Average (values: 1-20).
    • SlowMA - Slow Moving Average (values: 50-200).
    •  Mom_Sell-Momentum_Sell trigger(values: 0.1-5).
    •  Mom_Buy-Momentum_Buy trigger(values: 0.1-5).
    • ---------------------CONTROL DRAW DOWN-----------------------------
    • UseEquityStop -  (values: true).
    • TotalEquityRisk- (values: 0.01-20).
    • -------------------------------------------------------------------------------
    • Max_Trades(1-12). 
    • FractalNum= Number Of High And Low(values: 1-10).
    • ----------------IF YOU USE ONLY 1 TRADE:-----------------------
    • /////////////////////////////////////////////////////////////////////
    • USETRAILINGSTOP-If use trailing stop (values:true/false).
    • WHENTOTRAIL-When to trail (values: 40-100).
    • TRAILAMOUNT-Trail amount (values: 40-100).
    • Distance From Candle -Distance From Candle (values: 1-100).
    • USECANDELTRAIL=If use trailing stop (values:true/false).
    • X=2-number of candles (values: 1-100).
    • USEMOVETOBREAKEVEN-Enable " break even " (values: true/false).
    • WHENTOMOVETOBE-When to move break even (values: 1-30).
    • PIPSTOMOVESL=30-How much pips to move stop loss  (values: 1-30).
    • ////////////////////////////////////////////////////////////////////////



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