ADR Dashboard Based Trading Scanner
This is an expert advisor (EA), created in Meta-Trader 4 (MT4). The EA creates a dash-board that scans multiple currency pair symbols in forex. Everyday, it displays updated information for each selected currency pair on current Bid price, average daily range (ADR), pips to high (PTH) and pips to low (PTL). It also displays trade type and profit/loss for orders placed by this EA. All information are valid to 4 digits (or 2 digits for symbols involving JPY) after decimal. Certain input values are also displayed on the dash-board.
Following inputs are asked by this EA:
- Pairs List: Comma-separated names of currency pair symbols, whose information is to be gathered. Actual symbol names will include these names.
- Fixed Stop-Loss (pips): This is the stop-loss (in pips) that is used whenever an order is placed for “Money Management” set to “Fixed”.
- Fixed Take-Profit (pips): Just like the stop-loss, this is the take-profit (in pips) that is used while placing orders for “Money Management” set to “Fixed”.
- Fixed Lot: This lot is requested by market order, when “Money Management” is “Fixed”.
- Money Management: It can either be set as “Fixed” or “Dynamic”. For “Fixed” case, lot, stop-loss (pips) and take-profit (pips) do not change. For “Dynamic” case, lot, stop-loss and take-profits change as per current market size, ADR of the day, etc.
- Dynamic Take-Profit (%): If “Money Management” is set to “Dynamic”, this much percentage of calculated ADR is used to set take-profit of market orders.
- Dynamic Stop-Loss (%): If “Money Management” is set to “Dynamic”, this much percentage of calculated ADR is used to set stop-loss of market orders.
- Risk (%): If “Money Management” is set to “Dynamic”, lot is calculated using this risk, free-margin, leverage and current market price.
- ADR Trade Level (pips): It is deducted from calculated ADR to get average daily price. This resulting price is then used to find entry points of market orders.
- Trade: Actual trading occurs, when this is set to true. Else, a simulation occurs.
- Email Alert: When set to true, an email is sent giving details of orders placed by the EA.
- ADR Inputs: ADR price is calculated taking into account certain number of previous days. This ‘number of previous days’ is given by “ADR Inputs”. It is an integer value.
- Magic Number: A unique ID that is used by EA to keep track of orders, placed by this EA. It is an integer value.
- Slippage (pips): This is the allowed slippage in an order’s open price, while placing order.
NOTE: All inputs in pips are expected to be integer values.
NOTE: If any lot is not within allowed limits, then it is set to suitable limit and proper information is printed in Experts log.