Trading libraries for MetaTrader 4
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MetaTrader 4
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Overview
This Expert Advisor is notable for the fact that it is designed for trading any currency pair. The "Pattern + RSI" robot demonstrates good performance for a long time without changing the settings, and it is not some prohibitively complex system, but simply a successful combination of Prise Action, indicators and an order grid.
The EA can be used in any market with a low spread and good liquidity.
However, I recommend the following currency pairs: EURUSD, USDJPY, GBPUSD and XAUUSD.
Fully automatic trading with calculation of entries based on pattern analysis on a higher timeframe
and filtering on a lower timeframe.
The main characteristics of the advisor
Advanced stop loss management
Slippage control algorithm to avoid large losses in case of strong slippage
Fully automatic mode with configurable inputs
Well tested on history with high quality simulations, real or floating spreads, commissions and random slippage, with 99% tick quality
It is recommended to use the EA with brokers with low spreads, low commissions and fast execution.
Most ECN brokers provide such conditions.
Parameter overview:
"RSI settings"
on / off rsi - enables / disables the RSI indicator
timeframe_RSI - timeframe for the RSI indicator
period_RSI - period
level_buy - level to buy
level_sell - level to sell
Base = "Basic Settings"
Fix Lot - static lot size
Risk - The size of the dynamic lot in% of the depot (if = 0, only static lot calculation works)
Max Lot - Maximum allowed lot
K.Lot - Multiplication factor
MoneyManagment = "Order Management"
StopLoss - Stop loss size in points
TakeProfit - take profit in points
Requot - price slippage
Magic - the magic number of the advisor
StopLossMode - enable / disable stops from the second order
FunctionRecovery = "Function Recovery"
Profit-Recovery - profit size of the order grid in the account currency
Count Orders-Recovery - the number of orders in the grid
Step Orders-Recovery - step of grid orders
PatternControl = "Pattern Search"
TF - pattern search timeframe
