TWO Direction MT4
Two Direction is specially made to trade correlation between currencies , both positive correlations and negative correlations.This expert is the result of many years of trading experience that has been applied as an expert advisor.
At First, only for semi manual, like set n forget bot, but it can also be used as a scalper.
You do the analysis in the morning of the Asian session, if there is a pair that can be traded, install the bot, use vps, and the rest of the bot will do its job.
The bot will Place a pending order using an adaptive trendline, if the price turns down or up, the pending order trendline will follow. With its adaptive function, you will minimize entering the market too soon or too late.
When it reaches the profit target, the bot will close the position automatically and will place another pending order if possible, if only enough once, then you can activate trade continue new cycle = false, then the bot will not take a position anymore, only manage positions that are still open.
Use the smallest lot 0.01 with a minimum start balance of 1000 usd.
This bot should be paired with a trade monitor for risk management.
1. Continue New Cyle: If false, then the expert will only manage open positions and will not open new positions when all positions have been closed.
2. Second Symbol Correlation: fill in 2nd Pair correlation
3. Minimum Range to Start Pending Order: High and Low Range
4. Bars to count: Number of history bars to analyze
5.Range size of pending orders (in pips): Distance of pending orders from the current price, pending orders use adaptive trendline
6. Range size to move pending order (in pips): Trendline will move to the latest prices according to the number of sizes entered.
7. Start Pipstep (in pips) : Initial Step
8. Pipstep Exponent: Coefficient multiplier of step increase
9. Lotsize: Initial lot
10. Maxtrade = Maximum open position allowed
11. Target money for closing orders $: Target profit in money
12. Cut loss if loss $: Target cut loss in money
13. Trail start $: Target profit in money to start traiiling
14. Trail stop $: Trail step in money
15. Time management : when will start to open position and when will stop taking position.
16. Close all positions at the End of Session: Expert will close all positions after today's session ends
Determine the closing hour by filling in the start and end hours.
17. Slippage (in Pips): Slippage allowed
18. Maxspread (in Pips): Max Spread allowed
1000 usd = open 2 chart = 4 pair
5000 usd = open 10 charts = 20 pairs
For MT5 version https://www.mql5.com/en/market/product/48659
Note 1: Only the MT5 Terminal can backtest multicurrency pairs expert advisors. MT4 does not support backtest for multi currency experts.
Suggestion: If you trade more than 1 pair and open more than 1 position in 1 pair, I highly recommend using a trade monitor.
There is an information stopout so that you don't overtrade.