ZR3 Trend
- Experts
- MICHAEL JANUS
- Version: 1.1
- Updated: 17 January 2025
- Activations: 5
An expert advisor for semi-automated trading. Set 1 or 2 levels to break past, stop distances, minimal reversal distances or specific price targets. Works on a 1-minute time frame. Ideal for working a range either short term or long term. It allows for multiple re-entries in fast markets after nearby stops are hit. Can be a set-and-forget ea or adjusted multiple times throughout the day depending on your trading style. It's based on the principles described in the article - https://www.mql5.com/en/articles/1734 . The following settings can be adjusted. (The first listed setting is not visible in the screenshots below.)
Range levels(in points) from spread: The Range-high and Range-low values can automatically set by giving this setting a value. 30 is the default. This value would set Range-high at a price 30 points below the current Bid, and would set Range-low the equivalent number of points as the current spread below Range-high. This value, if greater than 0, takes precedence over user-defined Range-high and Range-low values that would be set below. Conversely, if this value equals 0, Range-high and/or Range-low must be defined.
Range-high: The price that when passed above by the Bid triggers a Buy order. This value will be represented by a blue horizontal line that can be selected and dragged to change its value.
Range-low: The price that when passed under by the Bid triggers a Sell order. This value will be represented by a gold horizontal line that can be selected and dragged to change its value.
Long trade take profit: The target price that when reached by the Bid closes a long trade at a profit.
Short trade take profit: The target price that when reached by the Ask closes a short trade at a profit.
Stop distance: The distance in points that a trade will be closed at to act as a stop loss. Setting this value is recommended but not required.
Volume: The trade's volume.
Minimum profit distance: The minimum distance from a trade's entry price that the trade can be closed at during the beginning of a trend reversal.
Maximum trades allowed: The maximum number of trades that will be closed before this expert advisor is removed. A value of zero means no maximum.
