Pattern Explorer © is a powerful tool that allows the trader to easily create automated trading systems based on Price Action candlestick patterns.
With Pattern Explorer © you get the ability to:
- check the operability of various patterns on various financial instruments and timeframes.
- to find the most profitable combinations for a specific pattern on a certain symbol by testing various take profit and stop loss variants.
- to improve the profitability of the trading system by using various filters.
- to run the automatic trading systems created and tested in the MetaTrader 4 tester.
- to use the acquired statistical data on the profitability of a particular Price Action pattern in your "manual" trading, in order to make more reasonable decisions.
- to join the process of creating and testing strategies now, with no programming skills, receiving the immediate experience, which develops the systematic trader sense and contributes to the emergence of the increasingly profitable ideas and plans, which in turn can be implemented outside the context of the Pattern Explorer © and Price Action pattern trading.
What is actually present in the EA as of version [1.0]:
- 10 built-in patterns, for each of which 100 degrees of strictness, that are applied to its detection and criteria.
- The ability to use each pattern "inversely", using the inversion function. (in fact it is + 10 patterns more)
- four different versions of SL (including averaging) + the ability to use a trailing stop and place a "breakeven".
- Three different ways to take profit, including a combination of the variants.
- usage of additional conditions for entering the market (filters), such as: trend/counter-trend filter, day of the week filter, volatility filters and sessions filter.
All this functionality is implemented in the most convenient and simple way.
The detailed instruction on the EA operation (including an EA creation example) is available here.
Expert Advisor Settings
Detailed description - in the link above!
- Trade_Lot - trading lot.
- Balance - if it is necessary to use the lot calculation based on the balance.
- TimeFrame - operation timeframe.
Stop Loss settings
- Mode - select one of 4 Stop Loss options:
- ATR_Percent - percentage of the ATR indicator value used for setting the Stop Loss or the averaging step.
- Points - the value of the Stop Loss or the averaging step specified in points.
- Trailing_stop - use trailing stop.
- Breakeven_pips - number of profit points to activate "breakeven".
- Koef - lot multiplier, when position averaging is used.
Take profit settings
- TP_mode - select one of 3 Take Profit options.
- TP_Points - fixed Take Profit value in points,
- Bailout - Enable the «Bailout» method of taking profit.
- Min_wait_for_bailout - Minimal position holding time before the «Bailout» triggers.
Trade entry filter settings
- Ma_filter_type - Use the Moving Average as a trend filter.
- MA_period - The period for calculating the Moving Average.
- Many_orders - Disable placing new pending orders, if there already are.
- Many_deals - Disable placing pending orders, if there are open trades.
- High_volatility_filter - Disable trades during high volatility period.
- Low_volatility_filter - Disable trades during low volatility period.
- DAYS - filter group to enable/disable trading on certain days of the week.
- SESSIONS - filter group to enable/disable trading during certain trading sessions.
- Pattern - Select one of ten built-in patterns.
- Accuracy - accuracy/"quality" of the pattern (1 to 100).
- MagicNumber - the magic number that the EA assigns to the order.
- Comment - order comment. Can be any number.
(Please refer to the detailed description of parameters - here)