This Expert Advisor uses patterns (adapted for MetaTrader 4). You can set patterns up to 5 candles and select parameters for the trading robot's operation. Since the patterns reflect trader's psychology, that facilitates more precise market entry and decreased drawdown improving the profits and reducing the risks.
In addition, there are functions of position tracking that increase the system's profitability. These are stop loss, take profit and trail. Also, the trading robot can calculate the dynamic lot from the size of your deposit when opening a new position.
- Magic Number - magic number allowing several Expert Advisors following different patterns to work on a single symbol. This increases the number of deals on a single character
- Start Hour - the hour, at which new positions start opening
- Start Minute - the minute, at which new positions start opening
- End Hour - the hour, at which opening of new positions ends
- End Minute - the minute, at which opening of new positions ends
- Stop Loss - limiting losses (invisible for a broker, does not work in case of 0)
- Take Profit - limiting profits (invisible for a broker, does not work in case of 0)
- Max Spread - maximum spread, at which a deal is performed. If the signal is present and the spread is large, the Expert Advisor waits for the spread to decrease before performing a deal
- Distance Trailing Stop - virtual trailing stop to track profit (does not work in case of 0)
- Dynamic Lot - dynamic lot (if 0 works as a static lot)
- Static Lot - static lot
- Martin - increasing the order volume if the last closed order is in the loss
- Averaging - averaging (adding) to a loss-making position by the signal
- Pyramiding - pyramiding (adding) to a profitable position by the signal
- Revers Signal - position reversal at the opposite signal The entire position is not reversed: the previous direction is closed, while the new one is opened with the lot size specified in the settings
- Close Signal - closing a position in case of an opposite signal (if the reverse is disabled)
The following rule is valid for the parameters listed below: they are not checked if set to 0. Thus, you can flexibly set parameters of any of 5 candles including any parameter provided in the settings. You do not need to specify all candle properties. You can specify them at your choice, and they will be checked in the exact combination you have set. The sequence of candles on the chart corresponds to the direction of the series, not arrays. (5 4 3 2 1 the current candle will be a zero one).
- Trend Open-Close - candle direction
- Min Body - minimum candle body
- Max Body - maximum candle body
- Min High-Low - minimum candle size
- Max High-Low - maximum candle size
- Min Outer Peak - minimum size of the candle's outer peak (upper peak for sell, while lower one - for buy)
- Max Outer Peak - maximum size of the candle's outer peak
- Min Internal Peak - minimum size of the candle's internal peak (lower peak for sell, while upper one - for buy)
- Max Internal Peak - maximum size of the candle's internal peak
- Min Upper Peak - minimum size of the candle's upper peak
- Max Upper Peak - maximum size of the candle's upper peak
- Min Lower Peak - minimum size of the candle's lower peak
- Max Lower Peak - maximum size of the candle's lower peak
- Min Volume - minimum real candle volume
- Max Volume - maximum real candle volume
- Min Delta Close 1 - Close 2 - minimum distance between Close prices of two candles
- Max Delta Close 1 - Close 2 - maximum distance between Close prices of two candles
If you think that the product lacks any function for checking the patterns, contact me and I will add them.
As an example, one of the configuration sets for EURUSD has made over 100% of profit in 2013 with the drawdown of less than 12% (default settings, pin bar, period - H1, quotes - 4 digits). Pattern versions can be found in the appropriate reference materials about the candlestick analysis, and the necessary ones can be checked in the strategy tester.