TP MoneyFlowIndex ADX
This EA is based on Money FLow Index (MFI) and ADX to identify the trends. The setup occurs upon reaching a MFI's certain level and the intersection of DI+ and DI-.
The orders are executed if two conditions are met:
- MFI crosses its critical level (INDLevel) and ADX has already confirmed the trend.
- ADX changes the trend and MFI has already crossed its critical level.
This EA opens only a few orders, but the positions have good quality. It works on multiple currencies and multiple time frames.
- ADX_TF: time frame of ADX.
- ADXPeriod: the number of bars used for ADX calculations.
- ADXLevel: level of the ADX to identify the strenght of the trend (>25 strong trend).
- TakeProfitPoints: take profit in points. If =0, Take Profit in points is disabled and only "Profit in currency" works.
- Profit in Currency: profit in currency account to close position (take profit in EUR, USD, etc.).
- StopLossPoints: stop loss in points. If =0, Stop Loss in points is disabled and only "Loss in currency" works.
- Loss in Currency: loss in currency account to close position (stop loss in EUR, USD, etc.).
- ProtectionStartPoints: profit in points to move the stop loss to breakeven. If =0, the Breakeven in points is disabled and only "Protection start in currency" works.
- Protection start in Currency: profit in currency account to move the stop loss to breakeven.
- Protection: points above (if Long) or below (if Short) the price of open order to move the breakeven.
- TrailingStopStart: profit in points to start the trailing stop. If =0, Trailing Stop is disabled.
- TrailingStopPoints: trailing stop in points.
- TrailingStepPoints: step in points to move the trailing stop.
- Turbo: if FALSE, the EA expects a new indicator crossing before opening a new trade.
- CloseReversalSignal: if TRUE, the EA close open trade when a new opposite signal start and it open a new trade; if ELSE, the EA don't open new trades until the opened trade will be closed due to take profit or stop loss.
- UseMM: if TRUE, it activates automatic money management.
- PercentMM: risk value.
- Lots: if "UseMM" is FALSE, it is the lot size.
- OrderComment: order's comment.
- MagNum: magic number.
- SlippagePoints: slippage in points.
I recommend you to do backtest to find the best settings (I propose settings for EURUSD H4 and M15). I also suggest to use a combination with more currency and more time frames to get a better result.
|Settings for EURUSD H4:||Settings for EURUSD M15:|
There are also these input change:
If "Take Profit Points" = 0, the Take Profit in points is disabled and only "profits in currency" works.
If "Stop Loss Points" = 0, the Stop Loss in points is disabled and only "stop loss in currency" works.
If "Protection Start Points" = 0, the breakeven in points is disabled and only "protection in currency" works.
If "Trailing Stop Start" = 0, the Trailing Stop is disabled.
There is the new command "CloseReversalSignal": if TRUE, the EA close open trade when a new opposite signal start and it open a new trade; if FALSE, the EA don't open new trades until the opened trade will be closed due to take profit or stop loss.