This Expert Advisor uses signals from a set of Bill Williams' indicators for operation. The trade direction is determined by the main signal of Alligator (three moving averages) and optional Awesome Oscillator and Accelerator/Decelerator indicators. To avoid trading against the trend, the signals of a larger timeframe can be used.
The EA trades using pending STOP or LIMIT orders. It can use up to three orders, the weights of which is specified in the Expert Advisor settings. Trading using STOP orders involves a breakthrough of the last fractal level in the trend direction. Trading using LIMIT orders is based on the entry on rollbacks in the trend direction. Option ALL uses both methods to enter the market.
The price range as the difference between the last High and Low is used to set order parameters. Take profit levels are calculated from the price range based on the Fibonacci sequence set in the EA parameters. Stop Loss levels are set as a percent of the price range.
The pending orders that do not trigger will be deleted when the main signal is exhausted or a new fractal is formed.
Orders are managed by a trailing stop as per the settings. When the first order is closed by take profit, the remaining two orders are moved to breakeven.
EA trading can be limited in time, it can close all orders at the end of the day.
The EA is designed for intraday trading on different timeframes and pairs. During live testing, it showed stable results on H1 and H4 timeframes on major currency pairs and metals. The EA shows best results in a stable trend. Try to avoid unnecessary risks during news releases. For successful trading be sure to test and find optimal parameters in the strategy tester.
1. Opening parameters.
- TF - working timeframe, from which the EA reads signals.
- TF_Dir - timeframe for additional trend detection.
- VarMode - trading using ALL/STOP/LIMIT orders.
- Lots1 - Lot size for the first order.
- Lots2 - Lot size for the second order.
- Lots3 - Lot size for the third order.
- Fibo1 - Fibonacci number for the calculation of Take Profit for the first order.
- Fibo2 - Fibonacci number for the calculation of Take Profit for the second order.
- Fibo3 - Fibonacci number for the calculation of Take Profit for the third order.
- price_STOP - correction for the STOP-order level, % of the price range (2%).
- sl_STOP – Stop Loss for STOP-orders, % of the price range.
- price_LIMIT - rollback to place limit orders, % of the price range.
- sl_LIMIT - Stop Loss for limit orders, % of the price range.
- use_AO - use a signal of Awesome Oscillator.
- use_AC - use a signal of Accelerator/Decelerator.
- use_Panel- show an info panel, on which signals from different timeframes are displayed.
- MagicNumber — EA's magic.
2. Order management.
- use_Breakeven - when the first order is closed, move the other two to breakeven.
- use_Trail - use trailing.
- VarTrail - EasyStep/Complex trailing option.
- TrailingStop - fixed size of simple trailing in points.
3. Time limitation.
- use_Time - set trading hours.
- StartHour - trading start hour.
- EndHour - Hours to finished trading.
- use_Close - close orders at the end of the day.
- CloseHour - the hour to close orders.
- CloseMinute - the minute to close orders.
4. Signal parameters.
- ma_period1 - averaging period of the fast green line.
- ma_shift1 - shift of the line relative to the price.
- ma_period2 - averaging period of the middle red line.
- ma_shift2 - shift of the red line.
- ma_period3 - averaging period of the slow blue line.
- ma_shift3 - shift of the blue line.
- ma_period4 - MA averaging period for the trailing stop function.
- ma_shift4 - MA shift for trailing.
- applied_price - Used price.
- shift - shift relative to the current bar by the specified number of periods back.