The MT4 trading advisor calculates the formed Gartley Butterfly shapes and makes a decision at the start of trading.
"Butterfly Gartley" - one of the figures of graphical analysis, popularized by technical analyst Larry Pesavento, taken from the author's publication "Profit in the stock market", published in the mid-thirties. To date, there are 12 basic "Gartley patterns" - graphic figures with the construction, based on the application of Fibonacci levels and ratios.
The algorithm of tracking each position with a trailing stop allows you to effectively control each position.
Trading instruments (m5 timeframe): EURUSD, GBPUSD, USDJPY, USDCAD.
To increase the efficiency of using the TradeButterfly advisor, it is recommended to use:
- low spread;
- 5-valued flow of quotes.
- MaxRisk - Risk for calculating the trading lot;
- if MaxRisk = 0, Lot will be - If Max Risk = 0, the lot will be like this;
- Take Profit - Take Profit;
- Stop Loss - Stop Loss;
- MaxLot - Maximum lot;
- Start trailing - Start trailing stop;
- First trailing level - The first level of the trailing stop;
- Trailing step - trailing stop step;
- Butterfly shape accuracy - accuracy of the shape of the butterfly;
- Maximum butterfly wing ratio - The maximum ratio of butterfly wings;
- Use the adviser's working time? - Use working time?
- The hour of commencement of trade - Hour start trading;
- Minute of commencement of trade - Hour start trading;
- Hour of the end of trade - Hour of the end of trade;
- Minute of the end of trade - Minute of the end of the trade;
- Slippage - Maximum slippage;
- Max Spread - Maximum Spread;
- Magic Number - Magic number;
- Comment to order - Comment to the opened orders.