Blue Rider Expert Advisor MT4
- Experts
- Tino Viehweg
- Version: 1.2
- Updated: 7 February 2024
- Activations: 5
Blue Rider Expert Advisor (BR EA) MT4
The BR EA is an EA which generates orders based on the signals of the Normalized Trend Reversal Multi Time Frame Indicator (NTR MTF Indi MT4).
The NTR MTF Indicator generates the signal using a crossover of two modified moving average systems.
The BR EA can be used on Forex currency pairs, indexes, metals, and cryptocurrencies.
The BR EA trades the first order and builds a grid as soon as the NTR MTF Indicator generates the next signal.
For a better overview, the BR EA plots the profits of the individual trades or sequences directly on the chart and connects the entries with the exits using dashed lines.
Ask me for Settings, User Manual, Installation, Requirements, and everything else you need for trading.
There is a channel with weekly trading recommendations for the Blue Rider EA MT4 and a support group on Telegram for all interested traders. Please send me a PM.
Recommended trading pairs
EURAUD; EURGBP; EURUSD; GBPAUD; NZDCHF; NZDUSD
General requirements for trading with Blue Rider EA
Minimum account size: 3000 e.g. USD for trading 3-5 pairs with the lowest starting lot of 0.01
Leverage 1:500
Not suitable for netting account and ESMA leverage restrictions.
Raw spread accounts and low latency VPS are recommended.
BR EA works on accounts of various brokers.
We recommend for getting the best results, as the BR EA has been optimized with the ECN data feed of the broker .
Parameters:
General Settings
Enable Buy – allow buy trades
Enable Sell – allow sell trades
Magic Number - identifier
Comment – add identifier
Entry Settings
Lot Base - first lot which the EA starts
Minimum Grid Distance (Fixed) - min distance of grid between entries
Lot Multi (1-Disable) - Multi of the individual lots of entries
Lot Sum (0-Disable) - Summand of the individual lots of the respective entries
NTR Settings
TimeFrame - TF of chart
Normalisation Period - defines the Period for which the Normalization of the NTR
Overbought Level (Normalisation > 0) - defines the Overbought Range for which a signal output is to be made by the NTR MTF indicator
Oversold Level (Normalisation > 0) - defines the Oversold Range for which a signal output is to be made by the NTR MTF indicator
ZigZag Filter Settings
Enable Filter First Trade – activates the filter only for the first trade
Enable Filter Sequence – activates the filter for each trade in the sequence
TimeFrame – TF of ZigZag Filter
BreaktoutMode - Setting for displaying the breakout option
Reversal Value according to Retrace Mode – Reversal value of the Retrace Modus
Retrace Mode – Mode that records the distance to which prices have collapsed again after reaching a new high
ATR Period (RetraceMethod=3) – Average True Range Periode
Exit Settings
Minimal Profit Target (0-Disabled) - min def TP
Increase Profit Target (1-Disabled) - Factor, which added to Minimum Profit Target depending on number of opened lots when closing sequence
Target ATR Multi (0-Disabled) – Target tracking based on the Average True Range
Emergency Management
Max Lot (0-Disabled) – highest lot opened in sequence (or singletrade)
Close on equity loss (0-Disabled) – SL in Money
Close on profit after x trades - closes lots of sequence after ... number of opened trades with BE
Pips in Profit (from Average Price) - closes sequence with an add profit
Filter Settings
Enable Time Filter 1 - allows trades in time of day 1
Start Hour (1) - def start time (1)
Stop Hour (1) - def stop time (2)
Enable Time Filter 2 - allows trades in time of day 2
Start Hour (2) - def start time (2)
Stop Hour (2) - def stop time (2)
Max Spread (0-Disabled) – Max allows spread between Bid and Ask
Max Slippage – Max allow Slippage
Visual Settings
Show Panel - - Informative panel shown
Enable Profit On Screen – activated profit display on the screen
Profit Color – Color of the profit
Arrow Distance – Distance of the arrows
Buy Arrow Color - Color for a buy entry signal
Sell Arrow Color - Color for a sell entry signal
Exit Arrow Color - Color for a exit signal
Exit Line Color (Single/ Last Trade) – defines color of dashed connecting line between entry and exit of single trade or last trade in a sequence
Exit Line Color - (Buy Trade/s) – defines color of dashed connecting line between entry and exit of Buytrades in a sequence, but not last Buytrade of this sequence
Exit Line Color (Sell) - (Sell Trade/s) – defines color of dashed connecting line between entry and exit of sell trades in a sequence, but not last sell trade of this sequence
A reliable EA. Tino, the author, is very supportive, replies with solutions, and answers quickly. As for back-testing, results are satisfying and parameters are intuitive and easy to grasp. In my opinion, product should worth more given the help I get from Tino. Totally worth it!