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MultiSignal Trend EA

150 USD

Demo downloaded: 12

Published: 29 June 2024

Current version: 6.1

MultiSignal Trend EA

Experts
Erafazira Binti Mohammad
Version: 6.1
Activations: 5

The "O'Dav" Expert Advisor (EA) script is designed for MetaTrader 5, leveraging multiple technical indicators and trading strategies to automate trading decisions. This EA focuses on trend-following, combining Relative Strength Index (RSI), Accelerator Oscillator (AC), Envelopes, and Intraday Time Filter (ITF) to identify and capitalize on market trends. Additionally, it incorporates a Parabolic SAR trailing stop for trade management and a fixed-risk money management system to control trading risk.

Detailed Breakdown:

Header Information:
- The script starts with metadata, including the script name ("O'Dav.mq5"), copyright information, and version details.
- Includes the necessary libraries for signals, trailing stop, and money management.
Inputs:
- Expert Advisor Settings:
  - Expert_Title : The name of the Expert Advisor.
  - Expert_MagicNumber : Unique identifier for the EA's trades.
  - Expert_EveryTick : Determines whether the EA operates on every tick or at fixed intervals.
- Signal Settings:
  - Signal_ThresholdOpen and Signal_ThresholdClose : Threshold values for opening and closing trades.
  - Signal_PriceLevel , Signal_StopLevel , Signal_TakeLevel : Define price levels for execution, stop loss, and take profit.
  - Signal_Expiration : Expiration of pending orders.
  - Specific parameters for each signal indicator (RSI, AC, Envelopes, ITF), including periods, applied prices, weights, and deviation.
- Trailing Stop Settings:
  - Trailing_ParabolicSAR_Step and Trailing_ParabolicSAR_Maximum : Parameters for the Parabolic SAR trailing stop.
- Money Management Settings:
  - Money_FixRisk_Percent : Percentage of account balance to risk per trade.
- Breakeven Settings:
  - Breakeven_Trigger and Breakeven_Offset : Parameters for moving the stop loss to breakeven.
Initialization:
- OnInit Function:
  - Initializes the EA and its components.
  - Creates and configures the main signal object.
  - Adds various filters (RSI, AC, Envelopes, ITF) to the signal object and sets their parameters.
  - Initializes trailing stop and money management objects.
  - Validates the settings and initializes necessary indicators.
Deinitialization:
- OnDeinit Function:
  - Properly deinitializes the EA when it is removed or the platform is closed.
Event Handlers:
- OnTick Function:
  - Handles new tick events to update the EA's logic and make trading decisions.
- OnTrade Function:
  - Handles trade events to manage open positions.
- OnTimer Function:
  - Handles timer events for periodic tasks if Expert_EveryTick is set to false.

Key Features:

Multi-Indicator Strategy:
- Uses RSI, AC, Envelopes, and ITF to generate trading signals.
- Each indicator has configurable parameters, allowing customization for different market conditions.
Trend-Following:
- The EA is designed to follow market trends, leveraging the combination of indicators to identify and act on these trends.
Risk Management:
- Fixed-risk money management system ensures that each trade risks only a predefined percentage of the account balance.
- Trailing stop using Parabolic SAR helps to lock in profits while allowing trades to run in the direction of the trend.
Automation:
- The EA operates autonomously, making trading decisions based on the predefined logic and parameters.
- Can handle various market conditions by adjusting the input parameters.

The "O'Dav" EA script represents a comprehensive and robust trading system suitable for traders looking to automate their trend-following strategies with advanced risk and trade management features.

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