Straddle Trader Pro MT4
- Experts
- NICHOLAS GRANT CARTER
- Version: 1.0
- Activations: 5
Important Notes:
- EA works well with all brokers, but works best with brokers that have small spreads.
- EA requires VPS or always connected PC.
- EA performs well when left to run autonomously.
- Very responsive customer support. All messages answered directly by publisher within 48 hours.
- EA works best on: EUR/USD, GBP/USD, NZD/USD, and USD/CHF.
- Here is the link to the full user guide: https://docs.google.com/document/d/1BkvuZt4Kxl6uUL_mX0NZe7V6IBeRiLLH1dynzRy_8fo/edit?usp=sharing
Strategy Overview:
This EA is designed to take advantage of large price movements that occur at market open when prices are at key levels. The EA "Straddles" (places a buy order above and a sell order below) the market open price. Many trade entry/exit filters across multiple timeframes are used to ensure that trades are placed in the direction of the trend and to make the EA avoid trading during market conditions which unfavorable to the EA. The EA has advanced risk management and drawdown protection functions.
Results:
- Here is a link to a video of the backtesting that was done on GBP/USD from 01/01/2007 to 10/01/2019. All backtesting is done using actual spread with tick data derived from Tick Story, 50-1 leverage, and delayed execution: https://youtu.be/8Pf8HgyKfPs
- Please note that I consider the inputs used for the backtest in the video linked above to be proprietary. Therefore, the .set file used for the backtest in the video above will only be given to renters of the EA. Default settings are not optimized.
- links to verified Trading results on live demo accounts since 11/29/19 can be found here: https://docs.google.com/document/d/1xBLAD2Mv5jEjGArafS8E8pblPrke7iVOK1m0Z7uXwec/edit?usp=sharing
Features:
- Risk Management- The EA has the ability to automatically apply 5 different kinds of stop loss functions and 3 different kinds of take profit functions. The different types of stop losses are trailing stop loss, jumping stop loss (stop loss moves incrementally closer based on amount of pips in profit), break even, ATR based stop loss, and pip based stop loss. The 3 different kinds of take profit functions are pip based, ATR based, and rolling take profit (a user defined percent of trade is closed incrementally). EA also has many trade entry & exit filters.
- Automated News Avoidance- The EA will automatically close trades before the release of major economic news events that could affect the currency pair that is being traded. Just input the news events you want to avoid into a spreadsheet and EA will avoid them.
- Automated Market Volatility Adjustment- The EA uses an ATR (Average True Range) multiplier in many of it's crucial functions instead of a defined amount of pips in order to stay aligned with current market volatility.
- Drawdown Protection- At a user defined amount of drawdown (based on equity), the EA will close all trades and exit the chart. The EA also has a max daily drawdown function. If user defined max daily drawdown is reached, then the EA will close all trades and not make anymore trades for the remainder of the day.
- Alerts and Push Notifications- The EA is very detailed in the information provided to the user. The EA will let the user know exactly what is doing in real time via Push notification and Alerts.
- Auto DST & Broker Server Time Adjustment- Once broker server time is chosen, the EA will adapt to daylight savings time automatically.
Coming Soon:
- Improved GUI
- Trade Multiple Pairs on 1 chart
- News Avoidance based on indicator instead of file
