There are no specific entry rules; it relies solely on a trailing stop mechanism to capture significant market movements. It can run on any currency pair, including gold! This trailing stop relies on the Average True Range (ATR) indicator. The initial position's direction is determined by the set parameters, and the next direction is always opposite to the previous one. When the trailing stop is triggered, the position is automatically closed, and a new one is opened. The trailing stop set in the strategy covers approximately 99.73% of the intraday fluctuations.
There are no specific entry rules; it relies solely on a trailing stop mechanism to capture significant market movements. This trailing stop relies on the Average True Range (ATR) indicator. The initial position's direction is determined by the set parameters, and the next direction is always opposite to the previous one. When the trailing stop is triggered, the position is automatically closed, and a new one is opened. The default settings for ATR (period = 24 and multiplier = 3) are recommended, and the strategy's trailing stop covers approximately 99.73% of intraday fluctuations.
Here are the default input parameter settings:
ATR_Period (default = 24) — The period of the ATR indicator used for setting the trailing stop.
ATR_Multiplier (default = 3) — A value used to multiply the ATR indicator.
StartWith (default = 1) — Determines the direction of the initial position: 1 for short, 2 for long.
This EA does not use fixed stop loss or take profit levels but relies on a trailing stop to limit losses and protect profits.
How often does it trade? This EA averages one trade per day.
Note: If you intend to use this Expert Advisor (EA) in ECN mode, you must set the ECN_Mode input parameter to true. Otherwise, when the EA attempts to open a position, you may encounter OrderSend Error 130 error messages. This is because if you are trading with an ECN broker (order execution mode is market execution), you cannot set stop loss/take profit when opening a position. You can only open a position without stop loss/take profit and then modify the order to add stop loss and take profit levels.
Installation instructions:
After purchase, copy the Ex4 file to the MQL4/Experts folder in your MT4 platform.
Restart the MT platform (or in MT4, go to [View] - [Navigator] - right-click [EA Trading] - refresh).
Open the currency pair first and drag the strategy onto the chart; you don't need to open charts for other currency pairs.
There is no 100% accurate trading system in the world. Even excellent trading systems have periodic flaws. Having more reference signals is equivalent to having more guidance. We wish everyone success in their trading endeavors!
