GEN UT Bot
- Uzman Danışmanlar
- Gede Egi Narditya
- Sürüm: 1.0
GEN UT Bot
Developer: Gede Egi
Overview
GEN UT Bot is an Expert Advisor (EA) for MetaTrader 5 that fully automates the trading strategy based on the popular "UT Bot Alerts" indicator. This EA is designed as a pure trend-following system, where trading signals are generated when the price crosses over a dynamic trend line calculated from the Average True Range (ATR). With comprehensive risk management, this EA is suitable for traders looking for a systematic approach to following market trends.
Features
- UT Bot Trend-Following Strategy: Implements the core logic of the UT Bot indicator, using an ATR-based trend line to identify the trend direction.
- Simple Crossover Signals: A Buy signal is generated when the price closes above the UT Bot line, and a Sell signal is generated when it closes below, providing clear entry points.
- Stop-and-Reverse Logic: When a new, opposing signal appears, the EA will automatically close the existing position before opening a new one, ensuring it always stays aligned with the most recent trend.
- Dynamic Risk Management: Offers an automatic Stop Loss & Take Profit mode (based on ATR) that adapts to market volatility, as well as a manual mode with fixed points.
- Flexible Lot Sizing: Supports automatic lot sizing calculated based on risk percentage and stop-loss distance, or the use of a fixed-size lot.
- Additional Trailing Stop: An optional points-based trailing stop feature can be enabled to progressively secure profits.
How It Works
- Trend Line Calculation: On each new bar, the EA calculates the value of the UT Bot trend line. This line is a trailing stop that follows the price at a certain distance determined by the ATR value and a multiplier (KeyValue).
- Crossover Signal Detection:
- A Buy Signal is detected when the previous bar closed below the UT Bot line, and the most recently completed bar closed above it.
- A Sell Signal is detected when the previous bar closed above the UT Bot line, and the most recently completed bar closed below it.
- Trade Execution: Once a signal is confirmed, the EA will close any opposing position (if one exists). Then, if there are no open positions, it will open a new trade in the direction of the signal.
- Risk Determination: The lot size, Stop Loss, and Take Profit are determined automatically based on the user's selected mode (Automatic via ATR or Manual via Points).
Input Parameters (Main Settings)
| Setting | Brief Description |
|---|---|
| Strategy Parameters |
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| Lot Sizing |
|
| Stop Loss & Take Profit |
|
| Trailing Stop |
|
