Trading libraries for MetaTrader 4
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Overview
PoundYen Trend Follower
PoundYen Trend Follower is a fully automated expert Advisor that trades on trend rollbacks. In its analysis, the expert Advisor uses certain formations of price behavior and indicator values on different time ranges. Upon reaching certain conditions for the opening and closing of positions the EA trails the trade entry and exit. The expert Advisor automatically calculates the volume of the transaction to enter depending on the free Deposit funds, but it is also possible to set it manually.
Does not use martingale, grid, doubling and other risky strategies!
PoundYen Trend Follower has been tested on a real account for about six months. It also includes an algorithm of actions from unforeseen situations such as restarting the terminal or the computer as a whole, from short-term Internet outages.
Requirements
- Use with GBPJPY currency pair.
- Availability of quotations M1 at least 3 days.
- In order to obtain better results it is recommended ECN broker with low spreads and use VPS with low ping to the server of the broker.
Input parameter
MoneyManagment Options
- AutoLot - using internal algorithm for managing capital.
- ofDepo - the level of risk to the transaction as a percentage of the free Deposit funds. Works when AutoLot = true.
- ManualLot - independent choice of the lot. Works when AutoLot = false.
TimeZone Parameters
- DifBrokerGMT-difference between terminal time and GMT time. Use winter time! (Example of correct parameter setting: Tokyo = GMT +9 --> DifBrokerGMT = 9. New York = GMT -5 --> DifBrokerGMT = -5)
- BrokerDST - the use of a broker of the transfer time for the summer.
- DSTStart - the drop-down list with options of the transfer time for the summer. Works if BrokerDST = true.
- DSTEnd-drop-down list with the choice of time transfer to winter. Works if BrokerDST = true.
Trade Parameters
- MAGIC is the identification number of open positions for which the expert keeps track of its position.
- Slippage-maximum slippage in points.
- NumberOfTry-number of attempts to open/close positions in case of failure.
- CommentOrd-comment to open positions.
When setting the DifBrokerGMT parameter, it is extremely important to use the winter time of your terminal to calculate the difference from GMT time. If dropdown list DSTStart and DSTEnd is not your standard transition time, asking me to notify and I'll add to the list.
To test PoundYen Trend Follower in the strategy tester, please use real (not demo) quotes of your broker. It is recommended to test on M1 timeframe, as the strategy tester in MT4 on large timeframes often skips bars when generating ticks of small timeframes, which leads to an incorrect calculation of the input signal.
