Time-Based Expert Advisor for MetaTrader 4
TimeLS МТ4 - Time Long Short
Overview
Our Time-Based Expert Advisor is designed to give traders the advantage of precise market timing. The Expert Advisor works with both long and short positions and can even open both at the same time, giving you unparalleled flexibility.
Key Features:
1. Time-Specific Trading:
- Define the exact hours and minutes to open and close positions, allowing for strategic planning around market hours, news events, or specific trading sessions.
2. Dynamic Positioning:
- Choose to open Long, Short, or both types of positions depending on your trading strategy.
3. Risk Management:
- Set custom Take Profit and Stop Loss levels in pips, allowing for tailored risk management.
4. Lot Size Control:
- Decide the size of the position you want to open in lots, giving you full control over your exposure.
5. Automated Closure:
- Option to close all open positions at a specific time, ensuring no positions remain open outside your trading window.
Parameters:
- TimeToOpenHours and TimeToOpenMinutes: Define at what time to open positions.
- TimeToCloseHours and TimeToCloseMinutes: Specify at what time to close positions.- The "CloseAllPosAt" must be set to True or it will ignore the closing.
- TakeProfit_in_Pips: Set your Take Profit levels in the smallest digits/pips/ticks.
- StoppLoss_in_Pips: Set your Stop Loss levels in the smallest digits/pips/ticks.
- Lots: Define the lot size of the position you wish to open.
- LongPositions and ShortPositions: Choose whether to open long/buy or short/sell positions.
- CloseAllPosAt: Enable or disable the option to close all open positions at a specific time.
Why Choose Our Time-Based Expert Advisor?
- Flexibility: Work with any currency pair, allowing for a diverse trading portfolio.
- User-Friendly: Easy-to-understand parameters make this EA suitable for both novice and experienced traders.
From the Author:
This Expert Advisor has been used for more than 2 years on personal, real accounts. The idea is to capitalize on volatility, especially during the opening of the New York Market. Therefore, when back-testing, aim for 2-8 minutes before the market opens.
Example: In my time zone, the market opened at 15:30 (which is 08:30 New York time). So, I would set a position to open at around 15:29, just before the market opens. Use small Take Profit targets, as volatility will usually work in your favor.
Disclaimer: This is not an automated system; you should back-test and input the correct values;
The Idea is that you use the Volatility, it requires extensive back-testing so that you can find the right moment for a specific market.
All markets have patterns, and every once in a while, they repeat their behavior based on timing, like the opening of the largest stock market or other time-based specifics that are repeatable. With some back-testing, you can find such spots in specific markets.
