PZ ADX Trader EA
This EA trades using the Average Directional Index (ADX) indicator. It offers many entry strategies and flexible position management settings, plus many useful features like customizable trading sessions and a martingale mode.
- Easy to use and supervise
- It implements 4 different entry strategies
- Customizable break-even, SL, TP and trailing-stop
- Works for ECN/Non-ECN brokers
- Works for 2-3-4-5 digit symbols
- Trading can be NFA/FIFO Compliant
- Implements a martingale feature
- Filter trading by forex sessions
- Built-in money management
The four entry strategies available are the following, which can be enabled or disabled independently.
- Trade when ADX is over 25 (+DI/-DI determines direction)
- Trade fractal breakouts confirmed by ADX (+DI/-DI determines direction)
- Trade +DI/-DI crossovers with ADX level
- Trade +DI/-DI crossovers
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
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks. Each functional parameter is explained below.
- ADX Settings - This parameter group holds the ADX settings.
- Trading Settings - Enable or disable trading setups at will.
- Session Settings - Enable or disable trading for the Asian, European or American sessions.
- Position Management - This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, trailing-stop in %, trailing-step in pips, stop-loss in pip and take-profit in pips.
- 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.
- 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.