Smart Trend Tool
- Utilities
- Smaylle Rafael Coelho Mariano
- Version: 1.93
- Updated: 15 August 2024
Smart Trend Tool Filter for MetaTrader 4 (MT4)
This tool is designed to ensure that any Expert Advisor (EA) operating within MetaTrader 4 (MT4) only opens positions that align with the prevailing market trend. It works by analyzing the trend across one or more charts, writing the trend information to a file, and applying specific templates (SMARTLONG.tpl for a long trend and SMARTSHORT.tpl for a short trend). The tool operates in a continuous loop in the background, adjusting the template each time the trend changes.
Features
Multi-Chart Trend Analysis:
- The tool can analyze the trend of one or more charts simultaneously, providing a comprehensive overview of the market.
Trend Determination:
- Trends are identified based on the crossover of two moving averages (MA). The specific moving averages used for trend determination can be configured in the settings.
Template Switching:
- Depending on the identified trend, the tool switches between two predefined templates:
- SMARTLONG.tpl: Applied when the trend is long.
- SMARTSHORT.tpl: Applied when the trend is short.
This ensures that the EA only opens positions that follow the current market trend.
Configurable Parameters:
- Timeframe: Users can select the timeframe (e.g., M1, M5, M15, H1) that the tool uses for trend analysis.
- Moving Averages: Users can specify which moving averages to use for determining the trend.
- Loop Interval: Users can set the interval (in minutes) for how often the tool re-evaluates the trend.
Background Operation:
- The tool runs in the background, continuously monitoring and adjusting to market conditions without requiring manual intervention.
How It Works
1. Initialization:
- Upon initialization, the tool reads the user-defined settings for timeframe, moving averages, loop interval, and news configuration.
Trend Analysis:
- At each interval (as specified in the settings), the tool analyzes the trend on the selected charts.
- The trend is determined based on the crossover of the two moving averages:
- Long Trend: If the shorter MA is above the longer MA.
- Short Trend: If the shorter MA is below the longer MA.
File Writing:
- The tool writes the current trend information to a file, which can be accessed to determine if a position should be opened.
Template Application:
- Based on the identified trend, the tool applies the appropriate template (SMARTLONG.tpl for long trends, SMARTSHORT.tpl for short trends) to the charts.
Loop Operation:
- The tool continues to operate in a loop, re-evaluating the trend and adjusting templates at each specified interval.
User Settings
- Timeframe: Selection of the timeframe for trend analysis (e.g., M1, M5, M15, H1).
- Moving Averages: Configuration of the two moving averages used to determine the trend (e.g., MA1 = 50, MA2 = 200).
- Loop Interval: Interval in minutes for the trend analysis loop (e.g., every 5 minutes).
Benefits
- Ensures that EAs only open positions that align with the current market trend, potentially improving trading performance.
- Automated and continuous operation reduces the need for manual monitoring and intervention.
- Customizable settings allow for flexible and adaptive trading strategies.
This tool integrates seamlessly with MT4, providing traders with a robust mechanism to align their trading strategies with prevailing market trends, thereby enhancing the effectiveness of their EAs.
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