MultiSignal Trend EA

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:

1. 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.

2. 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.

3. 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.

4. Deinitialization:

   • OnDeinit Function:
     • Properly deinitializes the EA when it is removed or the platform is closed.

5. 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.