CoSMOS4U AdTurtle EA MT4
COSMOS4U AdTurtle Expert Advisor is based on the now classic Turtle trading system introduced by Richard Dennis and William Eckhardt. It employs Donchian high/low lines of various periods to decide when to open and close positions. This is an Expert Advisor that can promptly react to sudden trend reversals in everyday trading but is also suitable for executing long-term holding strategies.
How it works
When the trading mode “Long&Short” is selected, a total of 8 high/low lines are used to open and close positions depending on which of these levels the price crosses over.
When the price moves above the “Open Upper Level” a new long position is opened which will be closed when the price moves below the “Close Lower Level”. Accordingly, when the price reaches a spot below the “Open Lower Level”, a new short position is opened that will be closed when the price moves above the “Close Upper Level”. The periods of the close lines are by default set to half the periods of the opening lines (x/2, y/2), in accordance with our most recent research, but you can modify this by setting the period divisors parameters. The lines for opening positions are drawn as solid lines on the diagram and the lines for closing positions are drawn as dashed lines.
A second set of “lagging” lines (with longer periods) are used in the same way for opening a position of the same type as the one previously closed.
When trading modes “Long” or “Short” are selected, the Expert Advisor executes only the long or short positions respectively.
Close Shop for the Weekend
As our most recent research has confirmed, a good practice in everyday trading is to close any open positions before the weekend to avoid potential gaps in prices caused by events or corporate and government announcements. The COSMOS4U AdTurtle Expert Advisor is by default adjusted to close its positions before the weekend. You can also fine-tune how many hours before and after the weekend break the Expert Advisor will close and open its positions respectively.
With COSMOS4U AdTurtle Expert Advisor you can manage the capital amount you are willing to risk daily as well as how much of your capital you want to allocate to each asset traded by the Expert Advisor in accordance with your diversification strategy.
- Trading Mode: what kind of positions the Expert Advisor will open. It can be "Long&Short" or "Long" or "Short"
- Period(x) of highest/lowest price: how many bars will be used when calculating highs/lows levels for opening Long or Short positions respectively
- Period(y) of highest/lowest price: how many bars will be used when calculating a second pair of highs/lows levels for opening positions if the same type of position was previously closed
- Divisor for x period exit, after opening position: the x/divisor period will be used to calculate highs/lows levels for exiting Short/Long positions that were opened using the first pair of lines
- Divisor for y period exit, after opening lagging position: the y/divisor period will be used to calculate highs/lows levels for exiting Short/Long positions that were opened using the second pair of lines
- Time Interval: the timeframe used to calculate highs/lows
- Daily Volatility(%): the percentage of an account's equity that the Expert Advisor will risk overall
- Daily volatility Capital Risk(%): the percentage of the above amount that the Expert Advisor will risk per trade
- Free Margin Level Threshold(%): the minimum level of free margin above which the Expert Advisor will make trades
- Enable Weekend Close Position: if the Expert Advisor will close its open positions before the weekend
- Hours post market opening on Monday: how many hours after the markets open on Monday the Expert Advisor will start trading (requires "Enable Weekend Close Position"=true)
- Hours prior market closing on Friday: how many hours before the markets close on Friday the Expert Advisor will close its positions for the weekend (requires "Enable Weekend Close Position"=true)
- Enable Debugging messages: prints log messages with details on why it opened/closed positions
Be sure to check out COSMOS4U AdTurtle Indicator and our entire range of MetaTrader products on https://www.mql5.com/en/users/cosmos4ucom/seller