Trend Pro with Auto Optimizer MT5 by RunwiseFX
A sophisticated trend change indicator with additional filters to cherry pick trades. Also includes genuine statistics and ground-breaking automatic optimization. The indicator does not repaint and calculates recommend stop loss and take profit. Alerts can be controlled via an on chart panel.
The statistics take into consideration spread, risk reward ratio and can be shown together with results from other charts and ordered/ranked by profitability.
The automatic optimization will examine chart history to fine tune indicator inputs as well as stop loss, take profit/exit regime, filters, trading hours, upper timeframe checks and other factors. The optimization takes place initially and then on-going when the market is closed. This is all automatic without having to use the strategy tester and works on multiple charts at the same time. Optimized settings are saved to file for if MetaTrader is restarted.
The optimization looks for the most profitable settings without increased risk/draw-down. When an improvement is made it will be reported on the panel and automatically adopted.
The indicator can be used on any timeframe or symbol but for currency pairs it has an additional filter to check currency strengths of the pair. There is also a mode for Binary Options, although we recommend regular spot/market trading.
Please see the screenshots and video below to see the indicator in action.
When the indicator is first added to a chart, for a symbol/period not added before, it will go through an initial optimization process. Please allow this to finish.
The indicator alerts recommend entries. Those entries are shown as arrows on the chart with recommend stop loss and take profit lines, marked SL and TP, respectively. A manual is available in the comments section.
The system optimizes itself, so the inputs generally don't need changing. Here is an explanation of what they mean:
- Main_autoPerformInitialOptimization - if true will auto start optimization when indicator placed on symbol/period not optimized before
- Main_binaryOptionRiskRewardRatio - if in Binary Options mode then will be the value of risk reward ratio for the stats. Should match what your broker gives you.
- Main_configFileName - allows you to specify an alternative configuration file. If blank will use default of runwiseFX_TP_Config.txt
- Main_configFileInCommon - if true then will read configuration file from common data folder
- Main_disableSpreadAskBid - if set to false will display spread and ask/bid prices on the chart
- Main_displayArrowOffset - vertical offset to use when displaying arrows on the chart
- Main_drawBackground - if set to false then won't draw background box of panel
- Main_maxExecTimeMS - reduce value to reduce processor load
- Main_minTradesPer1000Bars - minimum trades allowed per 1000 bars when optimizing. Used to prevent success relying on a few trades with rare setups that might not be seen again.
- Main_statsDateEnd - can be set to a date in yyyy.mm.dd format for which stats is produced over. Gives end date of range.
- Main_statsDateStart - as above but gives start date of range
- Main_testerUseMainChartSettingsIfPresent - if true then will use optimization settings from regular charts, if present, when strategy testing, else strategy tester will do its own optimization
- Main_timerFrequencyMS - increase to reduce processor load
- Main_usePrevClosedForStatsTradeOpenPrice - set to true if using Renko Median charts to improve accuracy of statistics
- Display_maxTrades - use to reduce number of charts objects showing simulated trades
- Display_openArrowFontExtra - can be used to increase size of trade open arrows show on chart
- Box_corner, Box_X, Box_Y - use these to change location of the panel on the chart
Conversion into an Expert Advisor (EA)
The indicator is compatible with our Panel Plus Configuration Automation product that allows indicators to be converted into an EA that can trade automatically (see video). This includes taking news events into consideration and has a hidden/virtual stop loss and take profit.
- Improved handling of upper timeframes where there is less history for optimization
- Improved usability in Strategy Tester where waits for sufficient bars/candles to be loaded before optimizing and show trades made after optimization
- Improved draw down reporting to include absolute draw down in brackets
- Improved 'market already moved too much before trade' filter
- Improved spread handling