The fully automated Yellow EA works on short-term trend changes creating the price "corridor" set in the parameters. Trading is carried out at the external borders of this corridor by opening positions in different directions with different lot sizes.
Version of Yellow Expert Advisor for MetaTrader5.
The strategy is simple, but effective.
Presence of a sufficient number of parameters allows trader to customize the advisor in accordance with his trading style.
StopLoss can be optionally set in parameters by user.
FIFO compatible, if parameter ClosePreviousPositions=true.
Yellow is intended for trading any currency pair on H1 timeframe.
Not martingale, not arbitrage.
- EAMagic - the magic number of the EA. Must have different values for every chart.
- AutoLot - can be set to "true" or "false". If "true", the EA selects the initial lot size for trading depending on the balance value.
- Lots - initial lot size is set by a user, if the value of AutoLot is false.
- Risk - percentage of the deposit used for the automatic calculation of the lot.
- MaxLotSize -maximal allowed trading lot. Change this parameter only if you really understand what you're doing.
- DD - maximum allowed drawdown. If reached, all positions on the symbol will be closed. To continue trading on that symbol its EAMagic parameter must be changed.
- CommentOfOrder - comment to orders. Can take any value.
- TakeProfitInPoints - take profit in points.
- StopLoss - stop loss value in points. If StopLoss=0, stop loss is not used in trading.
- TrailingStop - trailing stop in points.
- ZeroPositions - if "true", the EA opens positions only if there are no other open positions on the trading account.
- LotMult2way - lot multiplier for the next opened position.
- AutoPriceCorridor - if "true", the EA automatically determines the MaxPriceCorridor parameter.
- MaxPriceCorridor - value of the price corridor in points for Yellow to open positions, if AutoPriceCorridor=false.
- MaxSpread - the maximum spread size, at which the robot will open positions.
- PipsOfIncrement - expansion of the price corridor when exiting an unprofitable position.
- ClosePreviousPositions - if "true", the EA closes previous positions on the same currency pair before opening new positions and ignores the StopLoss parameter.
- TradeOnFridays - if "true", the EA will open trades on fridays.
- SaveDeposit - if "true", the EA will close order series with minimal profit regardless of TakeProfitInPoints parameter.
- SafeMode - if "false", built in trend filter will be turned OFF. In that case it's recommended to use TrailingStop.
- Old_Style_M5_Trading - if "true", the EA will be able to trade on M5 timeframe like previous versions.
- QuotesMult - multiplier for parameters, depending on the number of digits in symbol's quotes. For 5 digits in EURUSD quotes, for example, the value of this parameter should be 10. For 4 digits in EURUSD quotes, the value of this parameter should be 1. For metals and other instruments the value of this parameter must be selected individually for your broker.
- Autotrading - if the value is "true", the robot will work in fully automatic mode.
- ShowTradingPanel - if the value is "true", it will be possible to open positions manually.
Recommended broker - any.
Minimal recommended deposit - $300 for cent account (30000 cents) and lot 0.1. Account leverage - from 1:400 and higher.
Important! If there are open positions on your trading account, do not interfere with the Expert Advisor! The consequences can be unpredictable!
If you want to test the Expert Advisor in the Strategy Tester, do it only in "Every tick" mode!
For the correct operation of the EA, the currency pair history for the H1 and D1 timeframe should be downloaded to the terminal.
Parameters are set as for 4-digits servers. They will be automatically recalculated for 5-digits servers.
Once a month it's recommended to check that account history (history of previous trades) is downloaded to MT4 terminal. It's important.