AR Trades MT4
- Experts
- Version: 1.0
- Activations: 5
Multi currency Multi time frame expert advisor based on price action.
Works with currency majors, crosses, exotics, indexes, etc.
EA looks for longer candles than the average candle range to open a position.
By default it works on daily time frame, so there will be only few trades per week.
There is an initial take profit for each trade and a basket stop loss, which is percentage from the account.
Recommended pairs:
All 28 majors and crosses
User inputs description (default settings):
- Magic_Number = 333
- timeFrame = PERIOD_D1
- lot = 0.01
- maxSpread = 4.0
- maxTradesPerPair = 7 -> Max number of positions to be added (including the initial trade). 0 - unlimited
- tpFromARMultiplier = 0.1 -> 0.1 means Take profit of the initial trade will be 10% from the average range (multiplied by the averageRangeMultiplier)
- slFromARMultiplier = 0.0 -> if 0.0, no stop is used for the individual pairs. If for example 0.3, Stop loss will be 30% from the current average range (multiplied by the averageRangeMultiplier)
- minTakeProfitPerPair = 0.1 -> In account currency (money). If there are more than 1 trade for pair, the initial take profit of the initial trade will be removed and all trades will be closed after reaching this min profit. Usually we want to get out of the positions as soon as we go into profit
- candleRangeForOpenTradePips = 0 -> fixed amount of pips. If set to 0 it's not used - EA will use average range calculation instead
- takeProfitPipsPerPair = 0 -> fixed amount of pips. If set to 0 it's not used - EA will use tpFromARMultiplier calculation instead
- stopLossPipsPerPair = 0 -> fixed amount of pips. If set to 0 it's not used - EA will use slFromARMultiplier calculation instead
- emergencyStopLossPercentage = 25.0 -> If something goes wrong this will close all trades after reaching 25% (or whatever percentage is set) from the whole account
- averageRangeMultiplier = 2.5 -> 2.5 is 250%, 1.25 is 25%, etc, higher than the current average range
- averageRangePeriod = 20 -> number of bars the average range is calculated for
- maxRunningPairs = 1 -> if 0 - trade all pairs from the user input. 1 will trade only one pair, but will not prevent adding additional positions for the same pair
- minBodySizeFromARMultiplier = 0.3 -> When adding additional trades, body size of the previous candle must be at least this percentage from average range. 0.3 is 30% from Average range. This option will prevent adding additional positions after very small candles
- pairs = "AUDCAD,AUDCHF,AUDJPY,AUDNZD,AUDUSD,CADCHF,CADJPY,CHFJPY,..."
- placeSingleTradePerCurrency = false -> in case of true -> if we have for example GBPUSD, the EA will not trade another pairs with GBP or USD. This option might prevent exposing the account to same currency's direction
- maxGapAllowedPips = 10 -> max gap allowed between previous close and current open price (used for additional trades). No need to open additional position if the new bar opens with a gap in the direction of the initial position, because should open a position only if it's further away from the last open price
Dashboard columns:
- Symbol - Symbol name
- Spread - Current spread
- Range - Previous bar range (open - close) / Current bar range (open - close)
- Av.Range - Average Range (multiplied by the averageRangeMultiplier)
- Pips - Profit/Loss in pip
- Lots - total lots opened for the pair
- Profit/Loss - in money
- Min Margin - margin that will be taken for the lot size set in the user input
Buttons:
- Each pair name from the list in the EA is a button which opens a new chart for that pair
- Each close button closes all the positions for that pair
- Close All button closes all open positions
- Allow Trading button - if the text is grey, the EA will not trade. If it's orange it will trade.
Recommendations:
For balance of $1000 trade with 0.01- 0.02 lots
* Note that the averageRangeMultiplier is set to 0.5 in the EA user inputs, but the default value should be 2.5. Obviously the validation test of the MQL Market is made over a very short period of time and EA does not open any trade for that period and currency pair, so I was forced to lower the trade open criteria. In short you might want to change back the averageRangeMultiplier value from 0.5 to 2.5
** For better testing experience (multiple pairs) check the MT5 version of AR Trades also available on the market
