Hey there, fellow traders! Today, I want to introduce you to the "Triangle" EA, a handy tool for MetaTrader 4. This Expert Advisor utilizes two trend lines drawn with fractals on your chart, kicking into action when a triangle pattern forms. It's designed to work seamlessly across all time frames, major forex pairs, and even stocks on NASDAQ.
Key Features of the Triangle EA
Before diving in, here are some essential points to keep in mind:
- Demo First: Always try it on a demo account before going live!
- This EA trades only based on the price of the open candle!
- If you prefer not to increase lot sizes after a losing trade, set
IncreaseFactor=0. - The EA combines two moving averages with trend lines for a robust trading strategy.
- Keep in mind that the trend lines do not function in test mode.
- Optimization tests can only be done with moving averages.
- In live trading, the trend lines and moving averages work together effectively.
- During testing, the EA merely draws the trend lines on the screen in visual mode, without considering them for trades.
- The trend lines act as a filter, enhancing the probability of winning trades.
Input Settings to Consider
Here’s a rundown of the settings you can tweak:
- Use_TP_In_Money: Enable Take Profit in money (true/false).
- TP_In_Money: Set your Take Profit value in money (10-100).
- Use_TP_In_percent: Enable Take Profit in percentage (true/false).
- TP_In_Percent: Set your Take Profit percentage (10-100).
- Enable_Trailing: Activate trailing stop (true/false).
- Take Profit In Money: Set your take profit in the current currency (25-200).
- Stop Loss In Money: Define your stop loss (1-20).
- Exit: Close trades if the trend goes against you (true/false).
- Lots: Set your lot size (0.01-1).
- Stop_Loss: Set your stop loss (30-500).
- MagicNumber: Assign a unique magic number for the EA (1-100000).
- FastMA: Set your fast moving average (1-20).
- SlowMA: Set your slow moving average (50-200).
- Mom_Sell: Momentum sell trigger (0.1-0.9).
- Mom_Buy: Momentum buy trigger (0.1-0.9).
Optimizing Your EA
Don’t forget to optimize this EA every few months using the same inputs mentioned above. You can utilize it as a hedging grid EA or a single trade EA.
For those looking to perform a backtest, check out this guide: How to Perform Backtest.
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