Trading libraries for MetaTrader 4
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MetaTrader 4
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Overview
The default setting is for EUR/USD pair in the 5 minute timeframe.
For a complete description of all parameters and EA, check out the article I created:
- Make Your Own EA - Main Description: https://www.mql5.com/en/blogs/post/732582
- Sets: https://www.mql5.com/en/market/product/44077#!tab=comments&page=2&comment=16877902
- Monitoring signal: https://www.mql5.com/en/signals/984624
The idea of this EA is to allow the user to develop their own strategy , since few people understand programming.
The operation is quite simple. Initially EA comes with 5 indicators :
- 3 Moving Averages
- 1 Stochastic Oscillator
- 1 RSI
- 1 ADX
The user can configure the indicators however they want, even in different timeframes .
Operation Example:
Open a Buy order under the following conditions:
- When 4 EMA first crosses 50 EMA followed by 14 EMA to the downside on the 4hr chart , then open a sell trade at market order.
- Slow %D above Slow %K on the Daily Chart in Stochastic.
- Place stop loss should be at 50 pips .
- You can set your take profit at 150 pips which is 3 times what you risked.
This is just an example but the possibilities are endless. If you only want to use 2 moving averages or disable any indicator is also possible.
If you have no idea in mind, the way to make your strategy into your preferred asset/timeframe is by using optimization.
Since optimization takes so long and so many possibilities, I created a Telegram group where we will test and share the best strategies using Make Your Own EA . You can access the group here:
- Telegram Group: https://www.mql5.com/en/blogs/post/732581
My idea is to have community participation so that we have the best strategies and Sets.
Description of the parameters:
- Order Settings : Here you set parameters such as Take Profit , Stop Loss , Trailling Stop , Break Even , Lot Size Management, Auto/Manual Lot etc.
- Strategies Configurations : Here are configured the indicators that will be used (Moving Averages , RSI/ADX and Stochastic).
- You also have the option to enable Grid/Martin Gale in operations if you are interested.
