Monster Harmonic Trader
Monster Harmonic Trader is a Multi Symbol, Multi Timeframe, Harmonic Pattern Expert Advisor. It recognizes Gartley, Bat, Crab, Butterfly, Cypher, Black Swan, White Swan, Shark and Dragon patterns and trades accordingly. Monster Harmonic Trader is an expert that checks and detects all patterns for all symbols and (almost) all timeframes, and can open and close trades when the entry or target is found. Monster supports several entry, reward and risk options.
This EA is a logical extension from my Monster and MonsterDash indicators. The indicators are successful and highly rated. At this time it is hard to say anything about the profitability of this EA mainly due to its many options. Due to the nature of the MT4 Strategy Tester a backtest is next to impossible. A forward test is currently running, the results will be published when available.
Monster Harmonic Trader supports many inputs, every trader can find something to his or hers liking. The Expert can be traded in a lot of ways by configuring symbols, timeframes, lots, risk, take profit and stop loss methods. Basket methods are also available. The possibilities are endless.
There is a choice of entries, risk and reward. The entry can be at completion of a pattern or at a 0.236 Fibonacci retracement of the CD leg. Reward or Take profit can be set at the 0.618 retracement of that leg or at the limit of the Potential Reversal Zone (PRZ). Risk or Stoploss can be at the 1.382 Fibonacci expansion or at the limit of the PRZ.
This is an auto trading robot, but stay safe, in the end you yourself are responsible for your trading.
Monster Harmonic Trader supports too many inputs to show them all here. This is a list of the most important settings only. Please go the first entry in the comments section for a full list of all inputs.
- Trade all symbols in Market Watch Window? - Set to true to trade all symbols in Market Watch Window, otherwise trade symbols in next parameter.
- Symbols to trade, comma separated - Comma delimited list of symbols to trade.
- Max spread allowed - Maximum spread allowed, symbols with a higher actual spread will not be traded.
- Max slippage allowed - Maximum slippage allowed when opening trades.
- Delay between orders in bars - Minimum delay in number of bars when opening trades for the same symbol, this prevents multiple trades in the same bar.
- Magic number - Magic number.
- Minimum accuracy percent - Minimum accuracy percentage for pattern recognition.
- Price must touch all minimum ratios? - Set to true to force MonsterTrader to touch all minimum ratios, set this if you want the price to touch all minimum ratios and provide even better patterns.
- Enter trade at - Pick the trade entry from the drop down list
- Set reward at - Pick the trade reward/takeprofit from the drop down list
- Set risk at - Pick the trade risk/stoploss from the drop down list
- Trade Pattern Name - Set to true to detect and trade Pattern Name patterns.
- Trade Timeframe - Set to true to trade the Timeframe timeframe.
- Fixed Lot Size - Fixed lot size for all trades.
- Use risk based lot sizing? - Set to true to use this feature. Overrides the fixed lot size.
- Lot percent. - Risk percent of account for all trades. This percentage is the loss of the trade if stoploss is hit.
- Use balance based lot sizing? - Set to true to use this feature. Overrides the risk based lot size.
- Balance to use. - Balance to use in lot sizing. See next parameter also.
- Lot size. - Lot size per balance to use, see above. Example balance = 1.000 and lot size = 0.01 means a 0.01 lot per 1.000 in the account.
Monster Harmonic Trader shows the following information on your chart window screen:
- Symbol - Symbol name.
- Timeframe - Timeframe of a detected pattern.
- Direction - Direction (bullish/bearish) of a pattern.
- Pattern - Pattern name.
- Accuracy - Accuracy of pattern, 100% is a perfect pattern according to its ratio definition.
- Age - Age in bars for the timeframe, in which the pattern is detected.
- Completion - Price, at which the pattern's D point is completed or projected.
- Found - Date and time at which the pattern was found.
- Invalidated - Date and time at which the pattern was invalidated.
- Entry - The entry price, currently the 0.236 Fibonacci retracement off the completion price.
- Profit - The profit in pips if a trade is opened.
- Message - Status of the expert, including Market status, results for the day and open orders.
Monster Harmonic Trader will work in the Strategy Tester. However, only patterns for the selected symbol and selected and lower timeframes are detected. This is a limitation of the Strategy Tester.
Screenshots & Logging
Monster Harmonic Trader will log all closed trades to a .csv file. This way you can easily analyze its performance in any way you like. An online tool for analyzing the .csv file will be made available. The Expert can also make screenshots of trades opening and closing.
Monster Harmonic Trader is not resource hungry. Every calculation cycle (see the 'Check Pattern Every' parameter) takes approximately one second. The duration of every calculation cycle is reported in the upper left hand corner of the chart.
* EA now opens SELL orders
* S&R recalculated every cycle
* Dragon pattern
* Integrated Support & Resistance filter
* Entry options, enter trade at completion or after a small retrace
* Reward options, take profit at the limit of the PRZ or beyond
* Risk options, stoploss at the limit of the PRZ or beyond
* Optimized lot sizing
* Issue with White Swan risk-reward resolved
* Issue with multiple orders within a calculation cycle resolved
* The default symbol list expanded