George’s Trend is an Expert Advisor that follows trend following logic. It was designed with the old trader’s axiom "The Trend is Your Friend". The name "George’s Trend" arose from the fact that a MetaTrader Expert Advisor is essentially a trading robot and I decided to personalize the robot I was designing by giving him the name George.
George does not wish to be in the markets at all times. His mission is to locate when a trend is occurring in the market’s direction and follow it for as long as possible for maximum profit. The market is not always trending. Sometimes markets swing, or whipsaw, or reverse. Some trading literature estimates that Forex market is only trending around 15% percent of the time. George has been designed to stay out of the markets when there is no trend in place, and then get in the correct direction when there is.
He uses the following logic to accomplish this: first, he only enters new trades during determined market hours such as London Open to New York Close so that spikes that occur during off peak hours do not cause a false reading. Next, he uses the ATR indicator to determine whether there is any volatility in the market. When ATR is very low, the markets are likely moving sideways and it is not a good time to get in. If markets are open and ATR has moved above a minimum threshold, the DMI indicator is then used to determine whether or not a trend is actually in place. If DMI shows trending behavior in the market, George will analyze multiple trend following indicators to determine, in which direction the trend is occurring, and enter a trade in that direction accordingly.
Stop losses are placed with each new order, and the stop loss is moved to breakeven once a certain level of profitability is achieved. In this way, the possibility of loss with each new trade is kept protectively small, and when a new trade is placed in a winning position it can run as long as possible until the indicators say that the trend is no longer running. The anticipated trading behavior of George then is relatively few trades, small losses when losses occur, and wins when a trend really gets going.
George can trade any currency pair in any timeframe, although the trend following nature of the trading strategy will probably work better on larger time charts of 15 - 60 min or so.
George is optimized, by default, to the EURUSD on M15, and that is the currency pair he was designed around. Most important trading parameters are external and as such can be modified and optimized according to your trading preference. It is highly recommended that you re-optimize if using a currency or time frame other than EURUSD M15.
NOTE: This Expert Advisor was designed in USA on a Non-Hedging (per USA rules) MetaTrader 4 account.