AW Prime Oscillator EA MT5

AW Prime Oscillator EA is an Expert Advisor that trades on AW Prime Oscillator indicator signals. The fast oscillator line gives entries at the overbought and oversold levels, while the slow line sets the trend and filters out counter-trend signals.

The signal is read once per bar from the closed bar and is not redrawn. The order opens on the next bar. TakeProfit is virtual, measured from the breakeven of the side's whole basket rather than the first order price, so averaging orders move the target with them.

How the EA opens and closes orders:

1 At each bar close the EA reads the indicator signal. Buy - the fast line crosses Low level of indicator upward, sell - High level of indicator downward.

2 The Signal by current trend mode accepts only signals that follow the slow line trend, and Fast oscillator signal accepts every crossing.

3 If the side has no orders and the filters allow, the first order opens with the Size of the order volume or an AutoLot volume from the balance.

4 With the grid enabled, a price move against the side by the set step opens an averaging order, and the step and volume of later orders grow by multipliers.

5 When price moves TakeProfit in Points away from the basket breakeven with the side in profit, all its orders close at once and the result is labelled on the chart.

6 StopLoss Mode sets the stop: Use Fixed StopLoss - stop in points on each order, Exit on opposite signal - exit on an opposite signal.

Advantages:

• Indicator built into the EA, no separate purchase needed
• Signal taken from the closed bar, no redrawing
• TakeProfit from the basket breakeven, not from the first order price
• Grid with a growing step, volume multiplier and overlap of outermost orders
• Higher timeframe trend filter, working hours, spread and volume limits
• Panel with signal, trend, positions and drawdown, close and open buttons

How to trade with the EA:

Step 1 - Signal settings

Entry levels High level of indicator and Low level of indicator

Signals strategy: every signal or only signals with the trend

Step 2 - Volume and exit

First order volume Size of the order or AutoLot from the balance

Target TakeProfit in Points from the basket breakeven

StopLoss Mode: stop in points, opposite signal or no stop

Step 3 - Grid and filters

Step for grids and Multiplier for size of orders: the higher the multiplier, the heavier the deposit load

Maximum number of orders caps the number of orders per side

Trend filter Use additional Prime Oscillator trend filtering

Testing:

The EA can be tested on any symbol and timeframe. Visualization mode shows the oscillator window, TakeProfit lines, close marks and the panel with working buttons.

Grid drawdown depends on the step, volume multiplier and maximum number of orders, all worth checking in the tester before running on an account.

Input variables:

MAIN SETTINGS

Can EA work in both directions in same time - allows holding buys and sells at once. By default a side opens only when the opposite one is empty

Size of the order - volume of the side's first order

Enable AutoLot size calculation - first order volume calculated from the balance

Volume of deposit for one "Size of the order" with AutoLot - balance per Size of the order, a lower value gives a larger volume

SL&TP SETTINGS - TakeProfit, stop mode, stop in points, overlap of outermost orders

GRIDS SETTINGS - averaging, volume and step multipliers, step, maximum orders

PRIME OSCILLATOR SETTINGS - levels, signal mode, periods and smoothing

MULTI-TIMEFRAME TREND SETTINGS - higher timeframe trend filter

WORKING TIME SETTINGS - working hours of the EA

NOTIFICATIONS SETTINGS - push, e-mail and alerts when orders close

ADVISOR SETTINGS - Magic, comment, slippage, maximum spread and volume, allowed sides

GRAPHICS SETTINGS - close marks, color scheme, panel display and size, font

All variables and calculation examples are described in the manual linked above.