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Position Trader EA

4.67

Turn any trading strategy into a position trading strategy or trade the proven RSI & ADR based position trading strategies, including automated drawdown control system for positions that move against you. This EA is an evolution and a simplification of the MRA EA that has been used for position trading strategies taught on the Market Structure Trader website for many years. See my profile for a link to the website, free position trading course and other products.

The EA will automatically scale into market structure moves using "elastic band theory" and mean revert moves taken by the banks and institutions using either the RSI indicator or extensions of the average daily range (ADR) of any forex instrument you want to trade. Position trading is a method of entering the market using small risk and multiple entries, meaning the accuracy of the initial trade entry is less important than the way the trade is managed by the EA after entry. Markets are unpredictable and virtually impossible to time movements in with any kind of accuracy that is sustainable long term, this is why the majority of trading strategies and traders fail. You can also convert virtually any strategy you currently trade or have traded in the past into a position trading strategy by simply taking an initial market entry using the quick trading buttons on the EA. Once this initial trade is taken, the EA will then either auto close the trade when at a designated profit level or turn the trade into a position trade by scaling in on the next leg of the market structure move for you.

The inputs for the EA and full manual are here: https://www.mql5.com/en/blogs/post/756484

MT5 Version Available Here: https://www.mql5.com/en/market/product/115359/

Main Functionality:

  • Fully automated trading of RSI based mean reversion strategy.
  • Fully automated trading of ADR based mean reversion strategy.
  • Settings to fine tune each of the above strategies based on your requirements.
  • Simple, configurable entry condition using any moving average to trigger trades when strength is detected in the direction the strategy will trade.
  • Manual trade buttons to take initial entries or place manual additional trades in any existing position as well as close out trades.
    (Use these to trade any strategy and let the EA automatically turn trades that don't work into position trades).
    v1.2 - Buttons now work in the strategy tester too!
  • Perform automatic drawdown control (scaling out of losing trades) as they hit specific percentages in drawdown on your account.
  • Perform aggressive drawdown control (full size trades with stop losses) when your total position hits a specific percentage of your account in drawdown.
  • Total control over the minimum distances between trades in each position and the lot size increment (if required) for additional trades.
  • Risk auto calculated based on percent of your account size or a fixed lot size.
  • Individual exit targets based on a percentage of your account for individual trades, positions in a single direction and all trades open on each instrument traded.
  • Trade time filter to ensure no trades are taken during swaps where high spreads occur.
  • Can trade on any timeframe using the RSI mean reversion strategy (M5 timeframe recommended for ADR strategy)

EA Functionality & Logic:

The EA monitors the market for extended conditions on RSI or ADR depending on the strategy you are trading and will then, once the conditions for a trade are met, monitor the timeframe it is running on for an entry into the market. The entries are all taken using a moving average on the timeframe the EA is running on. e.g. if you run the EA on the M5 timeframe it will take a trade when the price closes above or below the MA you set in the inputs on that timeframe. The moving average entry logic is that price needs to open above the moving average and close below it to take a short entry and the opposite for longs. The EA monitors the last candle closed. When a trade is placed the EA will then auto calculate a level above shorts or below longs based on average daily range and get ready to add additional trades if price exceeds this level. The lot size of the next trade is also auto calculated by the EA, this level and the lot size are determined by the inputs you select. The EA automatically monitors the current profit and drawdown of each trade and the total position (all trades in the same direction) and will automatically close either complete trades or partial size based on the inputs for drawdown control and profit targets.

Recommended Setup For The EA:

The strategies for the EA was developed on forex markets as they have a very rhythmic movement and market structure is often clearly defined so you should be able to run the EA on any forex pair but any other instrument will also work so test! 

As with all EAs it is advisable to have the EA running on a machine that is left on 24/7 so the EA can work constantly and monitor the market for you. It is recommended to run the EA on the M5 timeframe for the ADR strategy and if you are trading using RSI it is advisable to also use M5 or M15, assuming you are monitoring RSI levels on the H1 and H4 timeframes. The EA enters the market using a moving average as the entry signal and that is on the timeframe it is running on. Bear in mind if you set the EA to manual mode where it uses the trading buttons only, it will still manage any entries you take with the buttons on the version of the EA running on your VPS/trading PC. Run each strategy you trade on a seperate terminal and seperate trading account so the EA doesn't not get confused with multiple entries using multiple strategies on the same account/terminal. This is best practice for all trading.

My setup: I have multiple terminals running on my own VPS, each terminal is logged into a different trading account and each account is only running one strategy. This way I know exactly what is and is not working at any time. Each terminal has every chart I want to trade opne (all FX pairs in my case) and the EA is set on each chart on the M5 timeframe and will auto enter for me based on RSI or ADR depending on which acocunt it is.
On my trading PC that I use for analysis in my office I also have the EA running on a chart but set to "button trading only" mode. This means I can manually add trades into a position and then the EA running on that chart on my VPS will take over, adjust the next entry level and lot size for me.

Recommended Pairs:

The EA is predominently designed to trade the FX markets but the concept of position trading will work on most instruments that have regular predicatable movement. To limit exposure it's advisable to only trade a limited amount of currency pairs so you do not get over exposed to any one currency too many times as this would harm your account during a squeeze on that currency.
As a guide a good range or forex pairs to trade would be AUDCAD, AUDNZD, EURGBP, EURNZD, GBPUSD, NZDCHF, USDCAD, USDCHF. JPY pairs trend hard at times making position trading more difficult but you can trade this pair but be ready to do drawdown control should a squeeze occur! CHF pairs are also tricky at times as this currency is used as a safe haven so if you want to be super safe you can also avoid pairs crossed with that. Other crosses which perform well and you could incorporate would include AUDCHF, CADCHF, EURAUD, EURCAD, EUFCHF, GBPNZD, NZDCAD and NZDUSD.


Reviews 6
Mark Vaines
1821
Mark Vaines 2024.04.21 07:51 
 

So far so good still messing with the setting but definatly a robost and adaptable EA. Some set files used by the users might be helpful to see how ppl opearate this EA. I intend on posting some set files in the comments after testing .....Good Job well thought out and executes smootly what it says it does

Wilhelm Niebuhr
23
Wilhelm Niebuhr 2024.04.06 13:20 
 

Absolutely brilliant and a very safe EA to run with an aggressive EA on same currency pairs with different time frames, rectifying errors of the aggressive EA. Genius piece of work.

pitorian
89
pitorian 2024.04.04 13:44 
 

I am impressed with Lee's support and ability to build EAs if used properly and you watch and read the documents they work, It's the only EAs and indicators I use on my charts, thank you, Lee, for all the help and support you are truly one in a million

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Ai Hybrid Robot MT4
Mansour Babasafary
71% discount for the next 5 buyers (original price $9000): 3 person left Get a 50% bonus by buying (or even renting) any of our products. After buying (or renting), send a message for more information. Several experts in one expert With this expert, you can use several up-to-date strategies Enhanced with artificial intelligence Can be used in several popular forex currencies Can be used in the most popular forex time frames Without using high-risk strategies Attributes : Can be used in t
Gold Excel
Gregory Hay
4.5 (4)
Welcome to   GoldExcel EA , an effective trader for the XAUUSD pair (GOLD). Developed by our team to work in normal accounts, funded prop accounts and prop challenges! Does not use HFT! See all products here:   https://www.mql5.com/en/users/fxmanagedforexltd/seller **V3.0 Update Read Blog :  https://www.mql5.com/en/blogs/post/756411 ***IMPORTANT ANNOUNCEMENT DST TIME CHANGES - USERS PLEASE READ****:   https://www.mql5.com/en/market/product/111410?source=Site#!tab=comments&page=2 ***Next price ri
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Ho Tuan Thang
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ONLY 3 COPIES OUT OF 10 LEFT AT $199! After that, the price will be raised to $299. Limited price $199 is only for 10 first sales. After 10 sales, the price will be raised +$100. Final price for Gold Trading Algo is $1999. IMPORTANT! Contact me immediately after the purchase to get instructions and Manual Guide to set up EA. Forex EA Trading Channel:  Update the latest news from me Some Features: - No Martingale, No Grid - The order is always protected by Stoploss - EA is using in-b
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Introducing our MT5 EA: Designed with advanced algorithms and utilizing deep learning technology, our Expert Advisor (EA) is crafted to assist you in the intricate world of forex trading. The system analyzes market behaviors and conducts transactions based on specific criteria, empowering you to engage with market trends more effectively. With the backing of nearly a decade of data, the EA employs deep learning to examine past market conditions, aiming to provide enhanced decision-making. Recom
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5 (48)
Smart Funded EA is an expert advisor designed to pass the HFT challenges of prop firms that allow its use. Do I need to back-test? You do not need to backtest, and demo servers that you backtest will not give the real results since HFT prop firms servers and symbols are specially designed friendly with HFT bots. Samart Funded HFT has a hundred percent success rate so do not waste your time back testing. You can test the EA with your   HFT challenge account with 0.01 lots if you still want to tes
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4.57 (21)
The XG Gold Robot MT4 is specially designed for Gold. We decided to include this EA in our offering after   extensive testing . XG Gold Robot and works perfectly with the   XAUUSD, GOLD, XAUEUR   pairs. XG Gold Robot has been created for all traders who like to   Trade in Gold   and includes additional a function that displays   weekly Gold levels   with the minimum and maximum displayed in the panel as well as on the chart, which will help you in manual trading. It’s a strategy based on  Price
GoldPulse AI
Babak Alamdar
5 (7)
Buy not a backtest, but a real trading system:     Live Signal 1     Live Signal 2 This price is temporary for the duration of the promotion and will be raised shortly Final Price: 5000 $ There are only a few copies left at the current price, the next price is -->> 500 $ Welcome to the GoldPulse AI Hey, I'm GoldPulse AI! This is the first smartest robot that trades gold or XAU with full pairs like XAUUSD, XAUEUR, XAUGBP, XAUAUD, XAUJPY, XAUCHF, XAUSGD, and XAUCNH! I check the news every
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Thi Thu Ha Hoang
5 (12)
Have you ever wondered why most expert advisors are not effective in live trading, despite their perfect backtest performance? The most likely answer is Over-fitting . Many EAs are created to ‘learn’ and adapt perfectly to the available historical data, but they fail to predict the future due to a lack of generalizability in the constructed model. Some developers simply don't know about the existence of over-fitting, or they know but don't have a way to prevent it. Others exploit it as a tool to
Price reduced for 7 days to $147 Then the price will be $230 PowerFul 1 Min Scalping System - Automatic Robot Scalper for Trade on the XAUUSD currency pair (the robot trades in other currency pairs, but gets the best results in gold). Recommended time periods M5 . The minimum initial balance is from $ 500. This robot automatically determines the points of price turning and sets several deferred orders in the likely future direction of the trend. If the price does not unfold in the right directi
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5 (9)
Diamond PRO is enhanced powerful version of Diamond for advanced traders. Pro version includes optimized cores, new impoved entry points filters, new multistage profit closure algorithm and сontains number of external control parameter that allows build and fine tune own tradind decisions and algorithms. The system provides more accurate market entries, analyzes and filters upcoming economic news, contains spread protection and an advanced position management algorithm. Main goal of Diamond PRO
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5 (7)
Naomixi Gold Advisor is a fully automatic trading system. !!! No martingale, no scalping, no grid Please note that we do not update the advisor 3-5 times a month.  The advisor does not need updating or optimization The system uses the basic laws of the Forex market in trading - price return after a sharp movement in any direction. This is one of the most stable advisors among existing analogues. You will be surprised! He does not use risky strategies. The price of the advisor is much lower
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Take advantage of the opening volatility of the major stock indexes and profit from the sudden moves created at those times when the market breaks away at the opening bell. The strategies' goal is to simply benefit from those days when the market moves fast and hard in one direction at the open and bank that move. If the market opens weak and directionless, the EA locks in a hedge loss and waits for the market to decide on a direction before exiting the positions. The stock index hedge EA analys
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A symmetrical triangle chart pattern represents a period of contraction & consolidation before the price is forced to breakout to the upside or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend. Get the dashboard to monitor all instruments and time frames you trade for symmetrical triangle patterns at once! https://www.mql5.com/en/market/product/69169/ MT5 Version Available
The ADR Reversal Indicator shows you at a glance where price is currently trading in relation to it's normal average daily range. You will get instant alerts via pop-up, email or push when price exceeds it's average range and levels above it of your choosing so you can jump into pullbacks and reversals quickly. The indicator draws horizontal lines on the chart at the average daily range extremes and also extensions above those levels which have mathematical probabilities attached to them of pric
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The symmetrical triangle pattern dashboard allows you to monitor multiple markets and timeframes at once for symmetrical triangle patterns as draw by the symmetrical triangle pattern indicator available here: https://www.mql5.com/en/market/product/68709/ Visit the above indicator to learn more about how symmetrical triangle patterns are formed and simple to follow strategies to trade them. The dashboard is a stand-alone product and DOES NOT require the indicator to work. It only monitors for t
Price Action Toolkit
LEE SAMSON
4.67 (6)
The price action toolkit EA is designed for scalpers but can be used on all timeframes to quickly enter the market with correctly calculated lot sizing based on your stop level, It allows you to quickly enter trades (instantly or at candle highs and lows with pending orders) and then adjust stops and take profits as the market moves. For a full list of all the features, settings and best practice strategy to use click here:  https://www.mql5.com/en/blogs/post/748072 MT5 version available here:
A symmetrical triangle chart pattern represents a period of contraction & consolidation before the price is forced to breakout to the upside or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend. MT4 Version Available Here:  https://www.mql5.com/en/market/product/68709/ This indicator identifies these patterns and alerts you when the 4 key points have formed and price has pul
AT LAST! A stochastic indicator for MT4 that shows multiple time frames on one chart ! See the actual position of the main and signal lines in 4 separate time frames instantly to help you make educated trading decisions.A true MTF stochastic indicator for traders that need to see visually what the indicator is telling them on multiple time frames, no arrows that just point up or down or numbers displayed. No more flicking between time frames to see where other stochastics are positioned! Stay on
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Daniel
875
Daniel 2024.04.25 10:31 
 

I bought the EA yesterday. After various settings, I'll take a look at the whole thing. First of all - the EA is very reminiscent of QQU. Somehow he still doesn't convince me. When testing EU/CAD, I noticed that the EA ignored the rise in March 2024, which was over 3000 points, but started to buy sell on the rise. Let's see the next few months. I'll inform you again.

LEE SAMSON
60386
Reply from developer LEE SAMSON 2024.04.25 11:48
Not sure 24 hours is long enough to test it really as it's designed to work with 1 and 4 hour timeframes so you've had less than 24 candles of movement! :) You are talking about a breakout there in March 2024. This is a mean reversion position trading EA, nothing to do with breakouts so please read the manual and watch the video again, doesn't do breakouts so would certainly not have got on that!
Mark Vaines
1821
Mark Vaines 2024.04.21 07:51 
 

So far so good still messing with the setting but definatly a robost and adaptable EA. Some set files used by the users might be helpful to see how ppl opearate this EA. I intend on posting some set files in the comments after testing .....Good Job well thought out and executes smootly what it says it does

Wilhelm Niebuhr
23
Wilhelm Niebuhr 2024.04.06 13:20 
 

Absolutely brilliant and a very safe EA to run with an aggressive EA on same currency pairs with different time frames, rectifying errors of the aggressive EA. Genius piece of work.

pitorian
89
pitorian 2024.04.04 13:44 
 

I am impressed with Lee's support and ability to build EAs if used properly and you watch and read the documents they work, It's the only EAs and indicators I use on my charts, thank you, Lee, for all the help and support you are truly one in a million

Steve Agleron
282
Steve Agleron 2024.03.13 18:44 
 

As usual Lee comes up with an absolute state of the art and totally unique EA. This is not for the get rich quick lambo boys, but if you want to increase your funds whilst learning how to trade the forex markets the right way, then this EA is for you. Check out Lee's other EA's and Indicators most of them are on every chart i trade. Thank you for your efforts in creating this wonderful tool, and thank you for sharing.

You are a star.. in fact Lee, you are the DB's!

bluekrev
114
bluekrev 2024.03.13 18:10 
 

State of the art EA. Thank you Lee.

Reply to review
Version 1.4 2024.04.02
v1.4 - VISUAL BUG FIX - Amended next long/short line text to correctly show if aggressive drawdown is active and correct lot size
Version 1.3 2024.03.27
v1.3 - Added speed control functionality to help with visual backtesting of trading strategies when using the trading buttons in the strategy tester
Version 1.2 2024.03.20
v.1.2 - Added input for ADR number, added close button which closes all trades instantly & trading buttons now work in the strategy tester also.
Version 1.1 2024.03.15
Added input to change text size on buttons for 4K monitors that have scaling issues.