Are you looking to enhance your trading strategy? The Standard Deviation Channel Lines EA is a game changer for traders on MetaTrader 4. This tool helps you draw Standard Deviation Channel Lines right on your chart and trades in line with the trend. Plus, it’s equipped with a Trailing Stop Loss and Take Profit feature, making it compatible with all major forex pairs and NASDAQ stocks, across any time frame!
Key Features
- Demo First: Always try it out on a demo account before going live.
- Candle Price Trading: This EA trades exclusively based on the price of the open candle!
- Lot Size Control: If you prefer not to increase your lot size after a loss, set: IncreaseFactor=0.
- Simple Yet Effective: This EA combines two moving averages with Standard Deviation Channel Lines for a well-rounded trading approach.
- Testing Limitations: Please note that the Trend Line function does not work in test mode.
- Optimization Tests: These can only be performed using moving averages.
- Live Trading: Only during live trading will the Standard Deviation Channel Lines and moving averages work together effectively.
- Visual Mode: During tests, the EA only displays the Standard Deviation Channel Lines visually without using them for trading.
- Winning Probability: The Standard Deviation Channel Lines act as a filter, thereby increasing your chances of winning trades.
Inputs
- Use_TP_In_Money: Enable Take Profit in monetary values (true/false).
- TP_In_Money: Set Take Profit in money (values: 10-100).
- Use_TP_In_Percent: Enable Take Profit in percentage (true/false).
- TP_In_Percent: Set Take Profit in percentage (values: 10-100).
- Enable_Trailing: Activate trailing with monetary values (true/false).
- Take Profit In Money: Set range (values: 25-100).
- Stop Loss In Money: Set range (values: 1-20).
- Deviation Length: Number of bars (values: 10-100).
- Deviation Color: Choose your color.
- Deviation Value: Set range (values: 0.5-3).
- Exit Control: Close trades if the trend goes against you (true/false).
- Lots: Define lot size (values: 0.01-1).
- IncreaseFactor: Determine how much to increase lots after a loss (values: 0.001-0.1).
- Stop_Loss: Set Stop Loss (values: 30-500).
- MagicNumber: Assign a magic number (values: 1-100000).
- TakeProfit: Set Take Profit (values: 50-200).
- FastMA: Fast Moving Average (values: 1-20).
- SlowMA: Slow Moving Average (values: 50-200).
- Mom_Sell: Momentum Sell trigger (values: 0.1-0.9).
- Mom_Buy: Momentum Buy trigger (values: 0.1-0.9).
- Max_Trades: Set the maximum number of trades (1-12).
- FractalNum: Number of highs and lows (values: 1-10).
Remember, optimizing this EA every few months is key to maintaining performance. You can use it as a hedging grid EA or a single trade EA.
For backtesting instructions, check out this link.
Comments 0