Universal Pattern Trader
- Experts
- AL MOOSAWI ABDULLAH JAFFER BAQER
- Version: 1.0
- Activations: 5
Universal Pattern Trader EA
A Customizable Tool for Strategy Developers and Traders
The Universal Pattern Trader (UPT) is an Expert Advisor designed for traders who want a solid foundation to build upon and optimize. This EA is based on a classic and understandable trading logic, making it an ideal starting point for creating a personalized automated trading strategy.
Please Note: This Expert Advisor is provided as a foundational tool. It has not been pre-optimized for any specific symbol or timeframe. Its purpose is to provide you with a fully functional and transparent trading robot that you can test, modify, and optimize to fit your own trading style and risk tolerance.
Core Trading Logic
The UPT's strategy is centered around the interaction of three popular technical indicators: two Exponential Moving Averages (EMA) and the Relative Strength Index (RSI).
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Entry Signals:
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A Buy signal is generated when the Fast EMA crosses above the Slow EMA.
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A Sell signal is generated when the Fast EMA crosses below the Slow EMA.
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Signal Filtration:
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To improve the quality of entry signals, the RSI is used as a filter.
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A Buy signal is only considered valid if the RSI is below the user-defined "Overbought" level, preventing entries when the market may be overextended.
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A Sell signal is only considered valid if the RSI is above the user-defined "Oversold" level, avoiding entries into potentially oversold conditions.
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Exit Strategy:
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The EA includes an optional, strategy-based exit. When enabled, a position will be closed if an opposing signal is generated. For instance, an open Buy position will be automatically closed if a valid Sell signal (EMA cross down + RSI confirmation) occurs.
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Alternatively, trades can be managed using fixed Stop Loss and Take Profit levels.
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Key Features
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Flexible Lot Sizing: Choose between a fixed lot size or a dynamic lot size based on a percentage of your account balance for automated risk management.
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Comprehensive Trade Management: Set your Stop Loss and Take Profit in points, and decide whether to use the built-in strategy exit logic.
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Advanced Filtering: Control your trading activity with precision using filters for:
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Minimum bars between trades to avoid over-trading.
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Maximum daily trades to limit exposure.
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Specific trading hours to operate only during desired market sessions.
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Visual Enhancements: An on-chart information panel displays key account and indicator data. Signal arrows can be enabled to visualize where trades were executed directly on the chart.
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Clean and Commented Code: The MQL5 code is well-structured and commented, making it easy for you to understand and modify the EA's logic.
Customizable Parameters
The EA offers a wide range of input parameters for you to customize and optimize:
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Trading Parameters: Lot Size, Risk Percent, Stop Loss, Take Profit, Strategy-Based Exit, Magic Number, and Trade Comment.
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Signal Parameters: Fast MA Period, Slow MA Period, RSI Period, RSI Overbought/Oversold Levels.
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Filter Parameters: Allow Buy/Sell, Minimum Bars Between Trades, Max Daily Trades, and Trading Hours.
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Visual Parameters: Enable/disable visuals, signal arrows, and the info panel, and customize colors.
This EA is a powerful and flexible tool for any trader looking to explore automated strategies. Use it as a robust starting point to test your ideas and develop a trading robot tailored to your unique approach.
For more trading tools and Expert Advisors, feel free to visit my seller page: https://www.mql5.com/en/users/1218858/seller