This Advanced Expert Advisor benefits of many years in Forex markets research and software development, it's an improvement of our previous EA FollowTheTrend (which was mono currency).
This EA calculates an index in real time for each major currency (EUR, GBP, USD, JPY, CHF, CAD, AUD and NZD).
If the delta between the 2 index of a pair exceeds a specific value, a position is open. FollowTheTrendMulti chooses the better pair to trade and manages simultaneously up to the number of pairs of your choice ('Max open positions on the account' parameter).
- Amount of lots per every 10,000 of free margin (risk): This parameter is the risk factor. If the free margin on your account is 10,000.00 USD and if you set this parameter to 0.3, the EA will open per default a position of 0.3 lots. If you choose a high value, your trading will be riskier (but more profitable). If you choose a lower value, your trading will be safer. An optimum value can be selected between 0.3 and 0.5.
- Volume Max: You can limit the maximum volume size of a position
- Max open positions on the account: This is the maximum number of positions on the account, no more than 'x' positions will be opened simultaneously.
- StopLoss: Set a Stop Loss at ‘x’ pips from the current price when the Martingale Max Level is reached (see below).
- Trend level: Minimum value of the delta between the trend index of each currency needed to open a position, this manages the sensibility of the EA. Lower will be this value, more sensitive it will be.
- Martingale: Max levels (0: disable): You can select the maximum level for the martingale (0 to 'x'). Our previous EA used a martingale based on HI/LO, we implement now a more efficient model based on the indicator "Laguerre" (created by John Ehlers).
- Martingale: Coefficient: This parameter defines the coefficient of the martingale. The martingale will be increased with this value: first step, volume = 0.3, second step, volume = 0.3 x Coefficient (3) = 0.9, total volume will be : 0.3 + 0.9 = 1.2 lots, and so on.
- Trailing Stop Start Level (ticks): The trailing stop maintains a stop loss at a precise distance below (long position) or above (short position) the market price. This stop loss is adjusted continually based on fluctuations in the market price. If you start the trailing stop as soon as the position become profitable, you will never do substantial gains. Enter here the number of pips to reach before activating the trailing stop.
- Currency to exclude: Enter the currencies you want to exclude separated by “space” (Ex : “CHF NZD JPY”)
- Enable sound alert when a position is opened: An audio message “Open Position” will inform you that a position is opened.
- Send a notification when a position is opened: A notification will be send to your mobile when a position is opened. You must configure MT5 notification options.
The green "Freeze" button prohibits opening new positions and disallows any changes in the size of opened positions. You can use it before high volatility period.
MetaTrader 5 Setup
This EA uses the "Forex Factory" economic calendar to avoid increasing the size of a position 2 hours before an important economic news.
To enable automatic downloads of this economic calendar, you must “Allow WebRequests” for following URL : “http://www.forexfactory.com” (Menu: Options / Expert Advisors / Allow WebRequest for listed URL:)
If you have any further questions or suggestions, don't hesitate to contact us at this email address: infos@BPASoftware.com.
I reduce CPU and memory needs as well.
- Divergences of momentum are now detected (for example, to avoid selling a bullish divergence),
- Main resistances and supports for each currency are managed (to avoid selling at a support),
- Middle-term top and bottom are detected,
- Several mechanisms have been added to limit the size of the orders when market conditions are not optimal,
- Economic news are now displayed on the main chart.
Do not hesitate to contact me in private message to receive the manual of this EA.
- A few improvements.