Blue Rider Expert Advisor MT4

Blue Rider Expert Advisor (BR EA) MT4

The BR EA is an EA which generates orders based on the signals of the Normalized Trend Reversal Multi Time Frame Indicator (NTR MTF Indi MT4).

The NTR MTF Indicator generates the signal using a crossover of two modified moving average systems.

The BR EA can be used on Forex currency pairs, indexes, metals, and cryptocurrencies.

The BR EA trades the first order and builds a grid as soon as the NTR MTF Indicator generates the next signal.

For a better overview, the BR EA plots the profits of the individual trades or sequences directly on the chart and connects the entries with the exits using dashed lines.

Ask me for Settings, User Manual, Installation, Requirements, and everything else you need for trading. 

There is a channel with weekly trading recommendations for the Blue Rider EA MT4 and a support group on Telegram for all interested traders. Please send me a PM.

Recommended trading pairs

EURAUD; EURGBP; EURUSD; GBPAUD; NZDCHF; NZDUSD

General requirements for trading with Blue Rider EA

Minimum account size: 3000 e.g. USD for trading 3-5 pairs with the lowest starting lot of 0.01

Leverage 1:500

Not suitable for netting account and ESMA leverage restrictions.

Raw spread accounts and low latency VPS are recommended.

BR EA works on accounts of various brokers.

We recommend for getting the best results, as the BR EA has been optimized with the ECN data feed of the broker .

Parameters:

General Settings

Enable Buy – allow buy trades

Enable Sell – allow sell trades

Magic Number - identifier

Comment – add identifier

Entry Settings

Lot Base - first lot which the EA starts

Minimum Grid Distance (Fixed) - min distance of grid between entries

Lot Multi (1-Disable) - Multi of the individual lots of entries

Lot Sum (0-Disable) - Summand of the individual lots of the respective entries

NTR Settings

TimeFrame - TF of chart

Normalisation Period - defines the Period for which the Normalization of the NTR

Overbought Level (Normalisation > 0) - defines the Overbought Range for which a signal output is to be made by the NTR MTF indicator

Oversold Level (Normalisation > 0) - defines the Oversold Range for which a signal output is to be made by the NTR MTF indicator

ZigZag Filter Settings

Enable Filter First Trade – activates the filter only for the first trade

Enable Filter Sequence – activates the filter for each trade in the sequence  

TimeFrame – TF of ZigZag Filter

BreaktoutMode - Setting for displaying the breakout option

Reversal Value according to Retrace Mode – Reversal value of the Retrace Modus

Retrace Mode – Mode that records the distance to which prices have collapsed again after reaching a new high

ATR Period (RetraceMethod=3) – Average True Range Periode

Exit Settings

Minimal Profit Target (0-Disabled) - min def TP

Increase Profit Target (1-Disabled) - Factor, which added to Minimum Profit Target depending on number of opened lots when closing sequence

Target ATR Multi (0-Disabled) – Target tracking based on the Average True Range

Emergency Management

Max Lot (0-Disabled) – highest lot opened in sequence (or singletrade)

Close on equity loss (0-Disabled) – SL in Money

Close on profit after x trades - closes lots of sequence after ... number of opened trades with BE

Pips in Profit (from Average Price) - closes sequence with an add profit

Filter Settings

Enable Time Filter 1 - allows trades in time of day 1

Start Hour (1) - def start time (1)

Stop Hour (1) - def stop time (2)

Enable Time Filter 2 - allows trades in time of day 2

Start Hour (2) - def start time (2)

Stop Hour (2) - def stop time (2)

Max Spread (0-Disabled) – Max allows spread between Bid and Ask

Max Slippage – Max allow Slippage

Visual Settings

Show Panel - - Informative panel shown

Enable Profit On Screen – activated profit display on the screen

Profit Color – Color of the profit

Arrow Distance – Distance of the arrows

Buy Arrow Color - Color for a buy entry signal

Sell Arrow Color - Color for a sell entry signal

Exit Arrow Color - Color for a exit signal

Exit Line Color (Single/ Last Trade) – defines color of dashed connecting line between entry and exit of single trade or last trade in a sequence

Exit Line Color - (Buy Trade/s) – defines color of dashed connecting line between entry and exit of Buytrades in a sequence, but not last Buytrade of this sequence

Exit Line Color (Sell) - (Sell Trade/s) – defines color of dashed connecting line between entry and exit of sell trades in a sequence, but not last sell trade of this sequence