Monster Harmonic Trader
Monster Harmonic Trader is a Multi Symbol, Multi Timeframe, Harmonic Pattern Expert Advisor. It recognizes Gartley, Bat, Crab, Butterfly, Cypher, Black Swan, White Swan, Shark and Dragon patterns and trades accordingly. User custom patterns can also be added. Monster supports several entry, reward and risk options.
While the underlying Fibonacci projections and ratios are fairly complex, this expert makes detection and discovery of the harmonics patterns easy. Monster Harmonic Trader gives you the right tool to trade Harmonic Patterns.
Monster Harmonic Trader supports too many inputs to show them all here. This is a list of the most important settings only. Please go the first entry in the comments section for a full list of all inputs.
- Trade all symbols in Market Watch Window? - Set to true to trade all symbols in Market Watch Window, otherwise trade symbols in next parameter.
- Symbols to trade, comma separated - Comma delimited list of symbols to trade.
- Max spread allowed - Maximum spread allowed, symbols with a higher actual spread will not be traded.
- Max slippage allowed - Maximum slippage allowed when opening trades.
- Delay between orders in bars - Minimum delay in number of bars when opening trades for the same symbol, this prevents multiple trades in the same bar.
- Magic number - Magic number.
- Minimum accuracy percent - Minimum accuracy percentage for pattern recognition.
- Price must touch all minimum ratios? - Set to true to force MonsterTrader to touch all minimum ratios, set this if you want the price to touch all minimum ratios and provide even better patterns.
- Enter trade at - Pick the trade entry from the drop down list
- Set reward at - Pick the trade reward/take profit from the drop down list
- Set risk at - Pick the trade risk/stop loss from the drop down list
- Trade Pattern Name - Set to true to detect and trade Pattern Name patterns.
- Trade Timeframe - Set to true to trade the Timeframe timeframe.
- Fixed Lot Size - Fixed lot size for all trades.
- Use risk based lot sizing? - Set to true to use this feature. Overrides the fixed lot size.
- Lot percent. - Risk percent of account for all trades. This percentage is the loss of the trade if stop loss is hit.
- Use balance based lot sizing? - Set to true to use this feature. Overrides the risk based lot size.
- Balance to use. - Balance to use in lot sizing. See next parameter also.
- Lot size. - Lot size per balance to use, see above. Example: balance = 1.000 and lot size = 0.01 means a 0.01 lot per 1.000 in the account.
Users can add their own patterns to Monster Harmonic Trader. Just modify the Monster_UserPatterns.csv to include your patterns. The .csv file can be found in the files folder of the User Data Directory. A sample pattern is already included in the file.
Monster Harmonic Trader will work in the Strategy Tester. However, only patterns for the selected symbol and selected and lower timeframes are detected. This is a limitation of the Strategy Tester.
Monster Harmonic Trader is not resource hungry. Every calculation cycle (see the 'Check Pattern Every' parameter) takes approximately one second. The duration of every calculation cycle is reported in the upper left hand corner of the chart.
Do not hesitate to contact me. Let me know what you think of Monster Harmonic Trader. Only with your help, I can create better tools for MT4.
* EA now opens SELL orders
* S&R recalculated every cycle
* Dragon pattern
* Integrated Support & Resistance filter
* Entry options, enter trade at completion or after a small retrace
* Reward options, take profit at the limit of the PRZ or beyond
* Risk options, stoploss at the limit of the PRZ or beyond
* Optimized lot sizing
* Issue with White Swan risk-reward resolved
* Issue with multiple orders within a calculation cycle resolved
* The default symbol list expanded