PZ The Zone EA
This expert advisors trades donchian breakouts according to Bill Williams's definition of "Trading in the Zone". It uses alligator to find strong trends, AC and AO to identify trading zones and MACD to avoid trading exhausted trends.
- Easy to use and supervise
- Fully configurable indicator settings
- Customizable break-even, stop-loss, take-profit and trailing-stop settings
- Works for ECN/Non-ECN brokers and 2-3-4-5 digit symbols
- Trades can be closed on opposite signals
- Implements a martingale feature
- Implements multi-timeframe filters
- Filter trading by forex sessions
Four different trading behaviors are available in the EA inputs:
- Regular: The EA will buy at bullish signals and sell at bearish signals
- Inverse: The EA will sell at bullish signals and buy at bearish signals
- Only Buy: The EA will buy at bullish signals and disregard bearish signals
- Only Sell: The EA will sell at bearish signals and disregard bullish signals
Additionally, it implements four different money management modes:
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will risk % of the account on each trade
- Martingale: The EA will double the lotsize after a losing trade
- Inverse Martingale: The EA will double the lotsize after a winning trade
According to Bill Williams trading in the zone helps to maximize/double/triple profits when the market goes your way, namely, when momentum, acceleration and price confirm that you have strong trend or acceleration period. It can be used to get into trends safely or adding to positions aggresively. For the record, it makes use of the following:
- Alligator to find strong trends
- AC and AO to identify trading zones
- MACD to avoid trading exhausted trends
You can download the Zone Indicator from here.
- Trading Settings - Select the trading behavior: regular, inverse, only long or only short.
- Indicator Settings - This parameter group holds the indicators settings.
- Position Management - This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, break-even behavior, trailing-stop in pips, trailing-step in pips, stop-loss in pip and take-profit in pips.
- Session Settings - Enable or disable trading for the Asian, European or American sessions, as well as trading week days.
- Money Management - In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended. You can also enable NFA/FIFO compliant trading
- EA Settings - You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.
- Added different trading behaviors
- Added break-even modes