This fully automatic Expert Adviser seeks to ride the trend without making use of Take Profit. Instead it works by closing positions on the appearance of a reversing signal, ensuring the full capture of the trend. Entering the market is signaled by the appearance of a trend and ranging periods are controlled with the use of a filter. The opening and closing indicators of positions can be customized separately. When the initial trade does not close in profit, additional lots will open on each new trend signal and will only close once in profit and a trend reversal is detected.
A trading panel is provided for manual interventions, as there can be a delay in detecting changes in trends and sudden market fluctuations. Manual intervention, however, is not a requirement.
The adviser can be optimized for all time frames.
Real time monitoring of the signal and my products can be viewed at https://www.mql5.com/en/users/andre0512/seller
1. Use two opposing charts for each currency pair. Under the common settings of the adviser, set one chart to trade "Only Long" and the other "Only Short"
2. Ensure that each chart is making use of a different Magic Number.
3. Due to the nature of the strategy (two opposing charts), back-testing will only give you an indication of profit and drawdown. Use a tool to merge your reports or alternatively go live to get real results.
4. The most important parameters for determining trading frequency/accuracy are MaPeriod and ADX Level for opening trades and MaPeriodq for closing trades.
Basic Input Parameters
- Lot Type - Manual Lot/Auto Lot - If Auto Lot, then Start Lot is the percentage of the deposit balance
- Start Lots - Initial opening lot
- Lot Multiplier - Number by which Start Lots is multiplied on each consecutive signal
- Max Lot - Maximum accepted lot size
- StopLoss - Stop Loss in deposit currency
- Time Start - Trading start hour
- Time End - Trading end hour
- SignalonCurrent - True - Get signal on current bar / False - Get signal on closed bar
- New Cycle - True/False. If false, no new trades will be opened after completion of a trade cycle
- Magic Number - Chart identification number
- Slippage - Maximum allowable slippage
- Max Spread - Maximum allowable spread
- Close on Equity - True/False. When True, Equity Percent applies
- Equity Percent - When the equity has increased by this percentage, all open orders from all open charts will be closed
Trend Indicator Input Parameters for Opening Trades
- MaMethod - 0 - Simple MA, 1 - Exponential MA, 2 - Smoothed MA, 3 - Linear MA
- MaPeriod - Period of moving average (0-200)
- Use MA2 Filter - True/False
- MaMethod2 - 0 - Simple MA, 1 - Exponential MA, 2 - Smoothed MA, 3 - Linear MA
- MaPeriod2 - 2nd Period of moving average (0-50)
ADX Indicator Input Parameters for Opening Trades
- Period - Period of the indicator
- Applied Price
- ADX Level - Order will only open above this level
- Delay Open - True/False. When True, Delay Points will be activated
- Delay Points - Order will open when this many Points has been gained after the crossing the ADX Level
Trend Indicator Parameters for Closing of Trades
- MaMethodq - 0 - Simple MA, 1 - Exponential MA, 2 - Smoothed MA, 3 - Linear MA
- MaPeriodq - Period of moving average (0-200)
- Use MA2 Filter - True/False
- MaMethod2q - 0 - Simple MA, 1 - Exponential MA, 2 - Smoothed MA, 3 - Linear MA
- MaPeriod2q - 2nd Period of moving average (0-50)
- UseNewsFilter - True/False. If False, News Filter is deactivated
- TimeBeforeNewsH - Number of minutes to pause trading before High impact news
- TimeAfterNewsH - Number of minutes to pause trading after High impact news
- TimeBeforeNewsM - Number of minutes to pause trading before Medium impact news
- TimeAfterNewsM - Number of minutes to pause trading after Medium impact news
- TimeBeforeNewsL - Number of minutes to pause trading before Low impact news
- TimeAfterNewsL - Number of minutes to pause trading after Low impact news
- DrawLines - True/False. If False, News lines won't be drawn on the chart