PZ MACD Trader EA
The PZ MACD Trader EA is a flexible and powerful MetaTrader expert advisor that trades using the MACD indicator, and optionally, breakouts of a customizable period.
- Easy to use and supervise
- Fully configurable settings
- Built-in money management
- Works for ECN/Non-ECN brokers and 2-3-4-5 digit symbols
- Trading can be FIFO (NFA) Compliant
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks. Each functional parameter is explained below.
- MACD Settings - Enter the fast EMA, slow EMA and signal SMA for the MACD indicator.
- Trading Settings - This block decides how the EA trades. You can decide trading direction and type of entry. If you choose the strict mode, the EA will enter trades only using MACD signals. If you choose the breakouts mode, the EA will trade Donchian breakouts filtered by the MACD indicator. The breakout period is also customizable.
- Trade Management- This block instructs the EA how to manage a trade once it has been taken. You can decide stop-loss, take-profit, break-even and trailing step in pips. The trailing stop is expressed as percentage of the Max. Favorable Excursion (MFE) of the trade.
- Money Management - In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself.
- EA Settings - You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one.
Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.