Pendulum Swing
- Experts
- Version: 1.8
- Updated: 4 May 2023
A professional fully customizable pull back strategy expert advisor with optional Martingale features.
Opens and closes orders above and below moving average based on your settings.
Successfully tested on all major Forex pairs, Commodities, Volatility Indexes, Synthetic Indexes. This Expert Advisor can work with pretty much any index available on MT5 platform. Works good on any time frame, but I'd suggest to run it on H1.
I've tried to keep Expert Advisor settings as simple as possible to minimize confusion for new users.
Please test this Expert Advisor in strategy tester before trying on live account.
Let me know in the comment section if you have any suggestions on how to improve this Expert Advisor.
Please review and rate this Expert Advisor.
[1] Open new orders
True - New orders will be opened.
False - New orders will not be opened.
[2] Close positions
True - positions will be automatically closed based on settings.
False - positions will not be automatically closed, and will have to be closed manually.
[3] Close all positions on profit
True - positions will be closed when settings conditions are met and profit sum of all positions is greater than 0.
False - positions will be closed when settings conditions are met.
[4] Initial order size (0 - minimum possible)
Set this to 0 (zero) to automatically trade with lowest possible order size.
[5] Add 1 contrary order
Contrary order will be opened in opposite direction of pull back to increase equity on the account.
[6] Size of contrary order (0 - minimum possible)
Set this to 0 (zero) to automatically trade with lowest possible order size.
[7] Contrary Order Trailing Stop multiplier (0 - disable)
Trailing Stop distance multiplier. Set this to 0 (zero) to disable Trailing Stop.
[8] Order Magic number Uptrend
Magic number for uptrend wave. Must be different from Downtrend.
[9] Order Magic number Downtrend
Magic number for downtrend wave. Must be different from Uptrend.
[10] Regular Order Comment
A custom comment for each regular order.
[11] Contrary Order Comment
A custom comment for each contrary order.
[12] Strategy Tester withdraw profit
This option only works in the strategy tester and will be disabled during real trading.
Keep this option enabled to maximize the chances that your strategy will work every day with the same balance.
[13] Moving average period
The averaging period for calculating the moving average.
[14] Moving average smoothing method
The type of smoothing.
[15] Maximum allowed simultaneous positions
Some brokers set limits on the maximum allowable open positions. Contact your broker to find out these restrictions. By default, this value is 100.
[16] Multiplier value for additional orders
Multiply the size of the next consecutive order by this number.
[17] Automatic distance based on volatility
True - The distance between orders will be set according to the latest volatility. Option [18] will be overwritten by this.
False - The distance between orders will be set according to option [18].
[18] Distance multiplier for additional orders
Multiply the distance between orders by this number. This option will be disabled if option [17] is enabled.
[19] Percentage for the next order distance
Decrease or increase the distance of the next consecutive order by this percentage.
[20] Offset multiplier from MA to open first position
Decrease or increase the first order distance from the moving average by this percentage.
[21] Offset multiplier from MA to close all positions
Decrease or increase the closing distance of all orders from the moving average by this percentage.
Note:
Initial distance between orders is based off Moving Average PRICE_HIGH-PRICE_LOW
