Zone Trader MT4

Trade support and resistance or supply and demand zones automatically once you have identified the key areas you want to trade from. This EA allows you to draw buy and sell zones with a single click and then place them exactly where you expect price to turn. The EA then monitors those zones and will automatically take trades based on price action you specify for the zones. Once the initial trade is taken, the EA will then get out in profit at the opposite zone you place, which becomes the target area. You then have two choices, either close the trade and draw new zones to enter at, or exit in profit and reverse the trade in the opposite direction immediately, creating an "always in" the market style strategy.

This EA is designed for position traders or Dollar cost averaging trading strategies that do not use a fixed or hard stop loss in the market. Instead, it is designed to scale in to incorrect trades by taking a new trade in the same direction at the next available support or resistance zone and adjust the average price of your position in the market. There are backup exit criteria in the form of max loss amounts per trade or time based exits if required too. 

• Simply press the buttons to draw zones ready to place at levels of interest.
• Close button and close oldest button to exit all trades or just old ones if they get too far into drawdown to adjust your average position instantly.
• Works on any timeframe to trade either range bounces or trend pullbacks.
• Plots next entry based on an ADR (average daily range) / ATR (average true range) calculation of your choice to ensure evenly spaced positions are created.
• Choose the risk as either a fixed lot size or an amount of money over an ATR or ADR distance.
• Enter on price action in multiple ways when your zones are reached.
• Automatically display swap rates to aid swing traders in deciding on costs of holding positions long term.
• Show ATR/ADR data and account balance & profit on the chart.
• Zone can expand if strong price action invalidates them, or they can be removed and a new zone created.
• Exit at the opposite zone and instantly stop and reverse or wait for new zones to be reached.
• Exits also available by trailing stop, at money amounts (either profit or loss), and at end of day, after a set amount of time or on any timeframe candle close.
• Adjust the colours of the buy and sell zones to suit your chart colour scheme.
• Auto plot weekly start lines.
• Automatically plot weekly support and resistance (highs and lows) to aid in finding turning points in the market.