TrendWiz
- Experts
- Elio Bajlos
- Version: 1.3
- Activations: 5
This Expert Advisor (EA) combines multiple technical indicators to determine trade entries and manage risk effectively. The main components of the strategy are:
- Moving Averages (MACD): Determines trend direction and momentum using exponential moving averages (EMAs).
- Relative Strength Index (RSI): Identifies overbought and oversold conditions to avoid trades in extreme zones.
- Average True Range (ATR): Measures market volatility to set dynamic stop loss (SL) and take profit (TP) levels.
Features:
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Trade Entry Logic:
- Buy Signal:
- MACD line crosses above the signal line (bullish momentum).
- Previous MACD value was below the signal line (confirming the crossover).
- RSI value is below 70 (to avoid overbought conditions).
- Sell Signal:
- MACD line crosses below the signal line (bearish momentum).
- Previous MACD value was above the signal line (confirming the crossover).
- RSI value is above 30 (to avoid oversold conditions).
- Buy Signal:
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Risk Management:
- Dynamic Lot Sizing: Lot size is calculated based on account balance, risk percentage, and ATR value.
- Stop Loss and Take Profit: SL and TP are set dynamically using ATR, ensuring flexibility with market volatility.
- Breakeven Logic: Moves SL to entry price once a specified profit threshold is achieved, protecting gains.
- Trailing Stop Loss: Adjusts SL based on market movements to secure profits further.
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Additional Parameters:
- Cooldown period between trades to prevent overtrading.
- Minimum ATR threshold to filter out trades during low volatility.
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Debugging and Feedback:
- Logs key indicator values and trading actions for transparency and debugging.
Input Parameters:
- Indicator Settings:
- fastEMA , slowEMA , macdSignalSMA : MACD settings for moving averages.
- rsiPeriod : RSI calculation period.
- atrPeriod : ATR calculation period.
- Risk and Trade Management:
- riskFactor : ATR multiplier for TP.
- riskPercent : Risk per trade as a percentage of account balance.
- breakevenTrigger : Points required to activate breakeven.
- tradeCooldown : Time in seconds between trades.
- atrMinThreshold : Minimum ATR value to allow trading.
Workflow:
- Indicator Calculation: On each tick, MACD, RSI, and ATR values are updated.
- Trade Conditions: If no open positions and signals align, a trade is initiated.
- Risk Adjustments: SL and TP are recalculated dynamically based on ATR.
- Ongoing Management: Breakeven and trailing stop loss mechanisms are applied to active trades.
Key Advantages:
- Combines trend-following and momentum indicators for robust signal generation.
- Dynamic risk and trade management adapts to market conditions.
- Clear rules for entry, exit, and risk management ensure disciplined trading.
Usage:
Deploy this EA on the MetaTrader 5 platform for automated trading. It is optimized for intraday trading and works best on the 5-minute timeframe, but can be adapted for other periods with parameter adjustments.
