Hey traders! Today, I'm excited to introduce you to the EMAplusWPR_V2, a trend-following expert advisor (EA) designed for MetaTrader 4. This EA utilizes the Exponential Moving Average (EMA) and the Williams %R indicator to identify buy and sell signals, making it a valuable tool for your trading strategy.
I've crafted this EA to work with a starting equity of just €1,000 and focused on minimizing drawdown. I genuinely hope you find it useful, and I welcome any feedback you have!
Optimized for EUR/USD on the 5-minute timeframe
I've addressed some bugs, removed position sizing, and added a few new inputs to make the EA more user-friendly.
Important: Please remember that you’re using this EA at your own risk. I’m not liable for any losses you may incur, so make sure to test and optimize it to fit your specific trading needs.
For those interested in older versions of the EA, you can find them here:
Inputs
extern string separator1 = "------trend settings------"; extern bool useEMAtrend = true; // trade in EMA trend extern int barsInTrend = 1; // how many bars should be in trend extern double EMAtrend = 144; // EMA period for trend extern string separator2 = "------WPR settings------"; extern double iWPRPeriod = 46; // WPR period for enter and exit extern double iWPRRetracement = 30; // minimal retracement for WPR to allow another trade extern bool useWPRExit = true; // use exit with WPR indicator extern string separator3 = "------position settings------"; extern double lots = 0.1; // fixed lot size extern int maxTrades = 2; // max trades allowed for pyramiding extern double stop_loss = 50; // stop loss extern double take_profit = 200; // take profit extern bool useTrailingStop = false; // use trailing stop extern double trailing_stop = 10; // trail stop loss extern bool useUnprofitExit = false; // exit trade when trade was not in profit in defined amount of bars extern int maxUnprofitBars = 5; // amount of bars not in profit
Let me know how it goes!
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