CodeBaseSections
Watch how to download trading robots for free
Find us on Facebook!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
to pocket
Experts

Head and Shoulders - expert for MetaTrader 4

Aharon Tzadik
Views:
22000
Rating:
(24)
Published:
2019.07.13 03:35
Updated:
2024.02.05 02:53
Download as ZIP, How to download code from MetaEditor
MQL5 Freelance Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

"Head and Shoulders" naked trading price action EA draws 2 mini Trend Lines with "Fractals" on chart and trades with Head and Shoulders strategy,has Trailing Stop Loss &Take Profit works with all time frames major forex pairs and stocks NASDAQ.

The concept of this price action EA is:


Head and Shoulders

Head and Shoulders

Head and Shoulders is confirmed when the price decline from the third top falls below the bottom of the lowest valley between the three peaks. 


I combined together a simple EA with two moving averages and Trend Line,

The Trend Line does not work on test mode,

The optimization tests can be performed only with moving averages,

In live trading only, Trend Line and moving averages will work together,

During tests, the EA  only draws the Trend Line on the screen in  visual mode without considering it in the creation of trades,

The Trend Line will function as a filter .

In this situation the probability of winning trades increases.

Try it on demo first.

You choose how to trade: only with the price of open candle or every tick !

If you do not want to trade with increasing lot size when you lose  a trade set:"IncreaseFactor=0"

Inputs

  •  Use_TP_In_Money- Use Take Profit In Money (values:true/false).
  •  TP_In_Money- Take Profit In Money   (values: 10-100).
  • Use_TP_In_percent- Use Take Profit In Percent (values:true/false).
  • TP_In_Percent- Take Profit In Percent (values: 10-100).
  • ------------[Money Trailing Stop For Multiple Trades]----------------------
  • Enable_Trailing-Enable_Trailing with money  (values:true/false).
  • Take Profit In Money (in current currency) (values: 25-300).
  • Stop Loss In Money(in current currency) (values: 1-20).
  • ------------------------------------------------------------------------------------
  • tick=If "tick"=false-every tick\If "tick"=true -open prices  (values:true/false).
  • Exit= Close trades if the trend is against you and control draw dwon (values:true/false).
  • Lots - Lots size (values: 0.01-1).
  • Lots size Exponent  (values: 1.01-2).
  • IncreaseFactor -how much to increase lots from total margin if you lose a trade (values: 0.001-0.1).
  • Stop_Loss - Stop Loss (values: 30-500).  /set value 600 for  Multiple Trades.
  • MagicNumber - Magic number (values: 1-100000).
  • TakeProfit - Take Profit (values: 50-200).  /set value 600 for  Multiple Trades.
  • FastMA - Fast Moving Average (values: 1-20).
  • SlowMA - Slow Moving Average (values: 50-200).
  •  Mom_Sell-Momentum_Sell trigger(values: 0.1-5).
  •  Mom_Buy-Momentum_Buy trigger(values: 0.1-5).
  • ---------------------CONTROL DRAW DOWN-----------------------------
  • UseEquityStop -(values:true/false).
  • TotalEquityRisk- (values: 0.01-20).
  • ------------------------------------------------------------------------------
  • Max_Trades(1-12). 
  • IF YOU USE ONLY 1 TRADE:
  • /////////////////////////////////////////////////////////////
  • USETRAILINGSTOP-If use trailing stop (values:true/false).
  • WHENTOTRAIL-When to trail (values: 40-100).
  • TRAILAMOUNT-Trail amount (values: 40-100).
  • PADAMOUNT-pad amount (values: 1-10).
  • USECANDELTRAIL=If use trailing stop (values:true/false).
  • X=2-number of candles (values: 1-10).
  • USEMOVETOBREAKEVEN-Enable " break even " (values: true/false).
  • WHENTOMOVETOBE-When to move break even (values: 1-30).
  • PIPSTOMOVESL=30-How much pips to move stop loss  (values: 1-30).
  • /////////////////////////////////////////////////////////////

         

      You need to optimize this EA once  a week and use the exact same  inputs from above .

      You can use it as  hedging grid EA or a single trade EA.


      Quarters Theory Quarters Theory

      Divides whole levels into Halfs and Quarters.

      HLCTrend HLCTrend

      Trend indicator

      Wedge pattern Wedge pattern

      "Wedge pattern" naked trading price action EA draws 2 mini Trend Lines with "Fractals" on chart and trades with Wedge pattern strategy,has Trailing Stop Loss &Take Profit works with all time frames major forex pairs and stocks NASDAQ.

      Camarilla Flat and Clear Camarilla Flat and Clear

      The code consists of lines created according to the opening, closing, low and high values of prices.