Assistant MT4
- Experts
- Agus Santoso
- Version: 1.2
- Updated: 18 December 2023
- Activations: 5
ASSISTANT Expert Advisor (EA) designed to complement manually opened positions can significantly streamline trading processes. For currency pairs exclusively, this EA could operate within the MetaTrader platform, for instance. Here’s an outline of its features and functionalities:
Supplementing Manual Trades:
Upon a trader manually opening a position, the EA gets activated to assist and manage that specific trade.
Customizable Settings:
Parameters can be set at the beginning to define how the EA will handle subsequent positions. These might include:
Lot size adjustment: Based on risk tolerance or account balance.
Take Profit (TP) and Stop Loss (SL) levels: Setting predefined exit points.
Trailing Stop: To lock in profits as the trade moves favorably.
Time-based management: Setting durations for trades.
Technical Analysis Integration:
Utilizing technical indicators (Moving Averages, RSI, MACD, etc.) to trigger actions, like closing or modifying positions.
Risk Management:
Implementing a risk-reward ratio to ensure that potential losses are capped relative to potential gains.
Providing options for hedging or partial closing to secure profits while minimizing risks.
Notifications and Alerts:
Sending alerts or notifications to the trader’s preferred platform or device upon specific trade events (e.g., hitting TP or SL).
Currency Pair Specific:
Designed exclusively for currency pairs, the EA ignores trading signals for gold and indices.
Backtesting and Optimization:
Allowing historical data testing to optimize settings and strategies for better performance in real-time trading.
User-Friendly Interface:
A simple and intuitive interface for users to easily configure and modify settings according to their trading preferences.
Continuous Support and Updates:
Regular updates to adapt to market conditions and address any technical issues or improvements.
Compliance with Trading Regulations:
Ensuring that the EA operates within the guidelines of relevant regulatory bodies and does not engage in prohibited trading practices.
This EA serves as an invaluable tool for traders by automating routine tasks and maintaining discipline in executing trading strategies. However, it's crucial for traders to regularly monitor and adjust settings according to changing market conditions and their evolving trading objectives.