The original Ilan EA for MetaTrader 4
This is the original Ilan EA for the MetaTrader 4 trading terminal.
The strategy needs no advertising as it is well known even to novice traders.
Settings of the Expert Advisor
The Expert Advisor can easily be set, while allowing you to adjust any important parameters of the strategy. Available Features:
- Unique MagicNumber for identification of trades;
- Trade direction option (Trade direction): buy only, sell only, or both directions simultaneously;
- Step for opening trades (Step) and profit size (TakeProfit) with automatic adaptation to 4 or 5-digit quotes;
- The initial lot (Start lot) and the lot incrementation coefficient (Lot coefficient) for adaptation to specific deposit size;
- And finally, limitation on the number of trades (Max trades in one direction) and Stop Loss of the last trade in a series (Max loss of last trade) for risk management.
Use as many Ilan Expert Advisors on a single account as may be necessary (even on the same trading instrument). Each of them will work with its own trades only, without interfering with the operation of other instances. If you choose to trade manually together with the Expert Advisor, it will not affect the trading strategy. Disable the Expert Advisor at any time or start it when there are open position - everything will work fine.
A special mode CloseAndStopNow is implemented for closing all trades and stopping the operation of the Expert Advisor: once it is activated, the Expert Advisor will close all its trades and stop the operation until the user interferes. There is also a possibility to disable opening new series or any new positions as such: select the desired mode, and the Expert Advisor will wait to close the series with profit and then will stop its operation.
You can check the performance of the Expert Advisor by testing it in the Strategy Tester.
Now you can choose which price ("From average open price" or "From last open price") will be used for "Start TrailingStop after" calculation.
You can customize trailing stop size ("TrailingStop in points") and the total position profit (in points), after which trailing is activated ("Start TrailingStop after profit").
Ability to close the entire series of deals at an opposite signal of the indicator ("Close on opposite signal").
Ability to specify the lot of the first deal as a percent of balance ("Risk for start lot").
Just choose the "TraderDream signal" in the settings, set the Period and Type of MA used in the indicator, and EA will work using new algorithm.
* "Simple signal" - original signal (like in the previous version)
* "MA cross signal" - crossing of 2 MAs signal (period and type are set by "MA Period" and "MA Type" variables)
Tip: In order to "reverse" the MA signal, interchange fast and slow MA periods. ;)
Several intervals can be set for each day of week. Thus, you can configure a flexible schedule for the entire week.
For example, if you set "00:00-11:59" interval for Monday, the Expert Advisor will open positions up to 12:00 (the interval's last minute is included).
If you set "13:58-14:05,15:28-15:35" intervals for Friday, the Expert Advisor will trade during 2 intervals having 8 minutes each.
The intervals should be specified in HH:MM-HH:MM format. 0 should be specified in hours and minutes less than 10. Wrong specification example: "0:00-1:20", correct one: "00:00-01:20". A comma (,) is used between the intervals as a separator. The number of specified intervals is not limited.
You can also select what time should be analyzed (does not work in the tester):
- Time Trade Server: trade server time (that you see in the terminal),
- Time Local: your PC's local time,
- or Time GMT (if your computer is configured correctly).
2. Added the possibility to prohibit opening deals during high spreads (MaxSpread parameter).
Good luck in trading!