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Shmendridge PAM Carrot for MT4

About the PAM (Price Action Master) EA Series

  • These multi-symbol multi-time-frame bots enter on high probability engulfing bar and shooting star/hammer/pin bar patterns with a stop order. (Delays won't matter, slippage and spread not a big deal on larger time-frames.)
  • They may consider up to 4 secondary time-frames in their analyses and score of space, trend, quality of bar, quality of important locations, big round numbers and quality of pullbacks.
  • The bots are based on many of the trading principals of the James16 chart thread. *Neither I, nor my EA are affiliated in any way to the Jame16 group.
  • Non scalper. Uses only completed bars in its calculations.
  • Recommended to use all PAM bots simultaneously: TREND4, CARROT[free], TURNIP and BLUEBERRY plus more to come.

About the PAM Carrot

  • This PAM bot has been trained to focus on entries on the D1 time frame chart likely to give a bigger move. W1 are also examined and included in the considerations with a lot of weight on trend.
  • This EA uses an advanced trailing stop which includes big round numbers and recent bar lows and highs in it's calculations.
  • Pre-optimized for wide range of markets. Ready to go.


  • StartDate - Date to begin trading. Will only pre-load bars in fast mode up till this point. We need at least 250 weekly bars to run properly.
  • Lots - Percent of equity to risk on each trade.
  • MAGIC_NUMBER - Unique ID.
  • Slippage - Maximum slippage.
  • EXPOSURECHECK - If true will not open correlated trades.
  • CheckMargin - If false it will bypass the free margin check. Turn it off to save CPU during tests.
  • Thresh - How high the potential trade must score to trigger an entry.
  • SYMBOLS - The total number of different symbols to be included in the strategy. (Live Only. Only 1 symbol can be run in Tester on the MT4 version.)
  • SYMBOL1...SYMBOL30 - Enter each symbol to be included in the strategy. (Live only. Only 1 symbol can be run in Tester on the MT4 version.)
  • riskadj1...riskadj30 - Enter each risk multiplier for each symbol in case you want to risk more or less than the specified Lots for some symbols. This is a multiplier so 1 is normal risk. 0.5 is half risk. 2 is 2x risk.
  • ALERTS - If true pops an alert on each new order placed.
  • PrintOrderStats - Prints order status on each new bar.
Matthew Todorovski
Matthew Todorovski 2018.05.10 16:04 

User didn't leave any comment to the rating

Andrey Litvichenko
Andrey Litvichenko 2017.10.26 11:03 

User didn't leave any comment to the rating

Thomas Kjelvik
Thomas Kjelvik 2017.03.30 08:37 

Does not perform in real life conditions

Maksym Mudrakov
Maksym Mudrakov 2016.04.09 21:23 

User didn't leave any comment to the rating

Ovidiu Caslariu
Ovidiu Caslariu 2016.02.19 17:36 

Looks promising.

smclellan 2015.02.16 18:41 

It doesn't trade too often but like they say in the James16 chart thread, the pickier the better. Can run one instance on many pairs so 2 trades per year per symbol is fine, especially when the ea is free and the trades are good.

Version 2.6 2017.05.17
Version 2.5 2016.05.13
Optimized internal settings.

Removed from settings (now, settings perfectly match the original EA description):
- FREQUENCY - hard coded and removed from settings.
- OpenAllCharts - hard coded and removed from settings.
- UseMaxSpreadFilter - hard coded and removed from settings.
- UseHiLow - hard coded and removed from settings.
- Stop - hard coded and removed from settings.
- TakeProfit - hard coded and removed from settings.
- LogOrders - renamed to Logs.
- PrintScores - hard coded and removed from settings.
- Verbal - hard coded and removed from settings.
- AddToEquity - hard coded and removed from settings.
- InitiateAddToEquity - hard coded and removed from settings.
Version 2.4 2015.09.04
-added comment
-fixed wrong lotsize error during check margin while minlot is exceeding the specified risk. Will now stop trading under such a condition.
Version 2.3 2015.07.29
-Added consideration to the "extremeness" of the pullback.
Version 2.2 2015.03.27
-Fixed bug where if UseHiLow was true the wrong lotsize was calculated.
-InitiateAddToEquity-will create a global variable called "ADDTOEQUITY" if one does not exist and will initiate it with this value. If it exists then it will only overwrite it if ForceInitiateAddToEquity is true. The ADDTOEQUITY global variable will be used as additional account equity in the lotsize calculations if non 0.(This enables us to easily and quickly change ADDTOEQUITY which is also compatible with the Shmendridge C7 EA.)
Version 2.0 2015.03.17
-FREQUENCY- seconds in between timer calls. (larger value uses less cpu when running live.)
-OpenAllCharts- if true it will open all charts when running live in order to make sure we have enough data for each symbol and timeframe. You may close extra charts after it initializes. (Make sure all the SYMBOLs in the SYMBOLs list of the inputs are in the market watch.)
-UseMaxSpreadFilter- if average spread of symbol is larger than MaxAvgSpread in ATR then it will not trade that symbol until the spread gets smaller.
-UseHiLow- ability to place stop at high or low of the price action bar.
-Stop- stoploss expressed in ATR. Not used if UseHiLow=true.
-TakeProfit- tp expressed in ATR.
-LogOrders- will log a csv file with all the criteria and scores and P/L of each order.
-[removed Logs]
-PrintScores- will print the scoring breakdown of each price action bar and it criteria in the journal
-Verbal- prints many various details in the journal.

-ability to detect first trouble area and then move stop at this point.
-added MACD divregence to the price action criteria.
-added Moving average as support and resistance to the price action criteria.
Version 1.54 2015.03.02
- Fixed bug in multi-symbol mode where wrong data was being used from a wrong symbol.
- Added more error checking and clearer reporting for symbols list duplicates or misspellings.
Version 1.53 2015.02.20
- Fixed bug in recovery process.
- Fixed bug in margin check plus made margin and lot adjustments more verbal and robust.
- Fixed retry close bug.
- Fixed requote bug.
- Allowed Thresh to be negative for testing purposes.