Automated Trendline Trader
The Automated Trendline Trader (also marketed as 'Iridium') allows traders to trade off any number of pre-configured trendlines on an MT4 chart. The system can be run on any number of MT4 charts providing the EA is loaded onto each chart.
- Fully automated trading from pre-configured trendlines
- Ability to execute multiple strategies on the same chart
- 4 Trading modes
- Easy Configuration
- Trendline Sensitivity (trigger channel in pips): This is a whole number representing the size of the trigger channel above and below the trendline where a trade can be executed
- Take Profit Colour: Defines the colour for Take Profit markers on the chart
- Stop Loss Colour: Defines the colour for Stop Loss markers on the chart
- Show Order Joins: if set to 'true' the system will join the order entry marker with it's associated stop loss and take profit level - this helps to identify specific levels when multiple positions are open
- Stop Loss Join Colour: Sets the colour of the join line between order entry market and stop loss level
- Take Profit Join Colour: Sets the colour of the join line between order entry market and take profit level
- Allow Multiple Orders: If set to 'true' the system will place multiple orders if entry conditions are met
- Maximum Number of Multiple Orders: Sets the maximum number of simultaneous open orders allowed
- Trade Trendline Breaks on Price Touch: When set to 'true', if the trendline trading mode has been configured as a 'Buy Break' or 'Sell Break' - the system will open the trade when price action has momentarily crossed above or below the trendline respectively. When set to 'false' the system will only place the trade when price action closes above or below the trendline respectively.
- Minimum Interval Between Orders in seconds: Allows the trader to define the minimum amount of elapsed time between the opening time of each order. We suggest setting this value to the same as the chart period - eg M1=60, M5=300 etc
- Risk/Reward Ratio: The system automatically sets the Take Profit level based on the Risk/Reward ration and the specified stop loss parameter for each individual trendline. So if Risk/Reward =2.0 and the Stop Loss=20 pips (SL=20) the system will calculate the stop loss as 2x20=40 pips above or below the entry price depending on the whether the trade is Long (Buy) or Short (Sell)
- Maximum Risk as % of Account Equity: Allows the trader to define a global risk parameter so that if any trade exceeds -x% of he account equity the system automatically closes the trade.