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Expert Chaos Trade

This Expert Advisor performs deals with the help of the Chaos Trading indicator https://www.mql5.com/en/market/product/17045

The EA is based on the classic Profitunity strategy from the "Trading Chaos" book by Bill Williams.


Fundamentals

The EA uses the Alligator, Awesome Oscillator (AO) and Fractals technical indicators.

To confirm the entries it also identifies the "Bullish/Bearish reversal Bar" pattern.

The EA makes trades using the following principle:

  1. The "Bullish/Bearish reversal Bar" pattern forms at a greater distance from the Alligator.
  2. Then the EA algorithm begins counting the bars on the AO histogram. After three consecutive bars of the same color appear (green for buy, red for sell), move to the third.
  3. Once the second signal triggers, the algorithm looks for a point for the third entry. That is, it waits for a fractal to form - two bars with lower Highs or higher Lows.


Input parameters

------"EXPERT money management"

  • Take Profit - the Take Profit level in points
  • Stop Loss - the Stop Loss level in points
  • Lot - position volume, lot
  • Percent of deposit - if lot is set to zero, then a dynamic lot as a percentage is used
  • The closing of all transactions when the specified profit. In percentages - close all deals once the specified profit as a percentage of the deposit is reached.

------"EXPERT no loss"

  • Use NO loss - use transferring to breakeven
  • Level of profit - profit level in points at which to transfer to breakeven
  • Level of loss - drawdown level in points at which to transfer to breakeven
  • Level breakeven - the number of points from the order Open to transfer to breakeven
  • Use Stop Loss on High/Low - set Stop Loss beyond the High/Low of the candle, where the order was opened
  • Distance Stop Loss - distance from the High/Low in points to set Stop Loss (the number of points away from High/Low to set Stop Loss)
  • Exit when the reverse signal - exit a profitable position when a reverse signal appears
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