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Alpha Seeker

Alpha Seeker Expert Advisor opens a position and uses trailing stops to limit losses and let profits run during large market swings. If the trailing stop is hit, the Expert Advisor will reverse directions. Can be setup on multiple symbols or a single symbol pair and on any time frame. Back test and forward test it on a demo account before risking your money.

Trade smart, trade safe, and know the risk.

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Trading Settings

  • Only_Current (true/false): If true is selected, you can trade any single symbol. If 'false', you must add the pairs you want to be traded under the Symbols input.
  • Symbols (EURUSD,USDJPY,EURJPY): Use a comma sign as a separator with no spaces. Having multiple currencies traded on one window is beneficial for backtests.
  • Time_Frame (current): Either used the current time frame you select on the trading window or you may select another from the dropdown window.
  • Lot (0.1): Use a fixed lot size, make sure to set Lot_Percent to zero if you wish to use this option.
  • Lot_Percent (1.0): the Expert Advisor will use a percentage from balance to open new trades.
  • Use_Virtual_Stops (true/false): Virtual Stops are not visible for broker.
  • First_Order (BUY/SELL): First order will be either a buy or sell.

Spread Filter Settings

  • Use_Spread_Filter (true/false): Enable spread filter to keep EA from opening new trades when the spread is higher than expected.
  • Max_Spread (5.0): Maximum spread in pips to use as your filter.

Time Settings

  • Use_Time_Zones (true/false): Enable time zone filters.
  • Time_Zone_1_Start (08:00).
  • Time_Zone_1_End (12:00).
  • Time_Zone_2_Start (14:00)
  • Time_Zone_2_End (16:00).
  • Use_Friday_Close (true/false): Enable closing trade on Friday before market close.
  • Close_Deals (22:30): Time on Friday to close your trades.

Trailing Stop Settings

  • Trailing_Stop (true/false): Enable trailing stop using a set number of pips. Used on only a single currency and time frame.
  • Trailing_Stop_Start (70.0): Trailing stop start level in pips.
  • Trailing_Stop_Distance (20.0): Trailing stop distance to follow in pips.

Dynamic Trailing Stop Settings

  • Dynamic_Trailing_Stop (true/false): Enable dynamic trailing stop. Best used when trading multiple symbols on the same window. Uses a past number of bars high/low to set the trailing stop level.
  • Bar_Number (3): Bar number for High/Low tracking.

Break Even Settings

  • Break_Even (true/false): Enable break even to prevent loss after going into profit.
  • Break_Even_Level (50.0): Break even level in pips.
  • Break_Even_Profit (1.0): Break even profit in pips.

Notification Settings

  • Journaling (true/false): Enables logging the EA activity in the journal.
  • Mail (true/false): Enables sending messages about the EA activity via e-mail.
  • Notifications (true/false): Enables sending messages about the EA activity via push notifications into MetaTrader 5 mobile terminals.
  • Alerts (true/false): Enables alerting about the EA activity.
  • Comments (true/false): Comment on chart.
  • Timer (0): If set >0 the EA will send the information shown in the comment via selected notification options with the specified time intervals. I.e. if set to 3600, the EA will send these reports hourly.

General Settings

  • Orders Filling Type (dropdown menu): There are some brokers, which support different order filling type. To avoid Invalid Order Filling Type trading error this option is in the input parameters. Just change the filling type if you see this error in journal.
  • Slippage (2.0): Max Slippage in pips.
  • EA_Orders_Comment (EA): Orders Comment.
  • Magic (12345): EA Magic Number.
  • Charts (true/false): If set to true, after the EA is placed on chart, it will automatically open all charts of traded symbols (with a specified Time Frame), apply a custom template to each chart and put an indicator, which is currently used in it.
  • Template (TemplateName): Template file name that should be applied to opened charts.
  • Withdraw (true/false): OnTester monthly profit withdraw.


Copyright 2013, Bruce Lesko

The Expert Advisor was coded by Wahoo. wahoo.mql@gmail.com

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