If you're on the lookout for a reliable Expert Advisor for MetaTrader 4, let me introduce you to SAW_system_1. This EA is designed to place pending orders based on the volatility observed over the last N days. One of the standout features is its approach to stop loss; it automatically sets the stop loss at the level of the opposite order. This means that when you set your stop loss value, it also determines the distance between your orders. Rather than calculating stop loss and take profit in points, this EA uses a percentage of the average volatility over your specified timeframe.
Orders are placed at a specific terminal hour, and if they haven't been triggered by that time, they get deleted. This keeps your trading environment clean and focused.
Another nifty feature of this EA is its ability to “reverse” positions when the first stop loss is hit. Instead of just removing the opposite order, it keeps it active, allowing for a more strategic approach. Plus, when a position is opened, you can place the opposite order with an increased lot size to help recover any losses from the original position.
Key Parameters:
- Lot: The trading lot size you wish to use.
- Volatility Calculation Period: The number of days used to calculate volatility.
- Order Placement Hour: The specific hour (in terminal time) when orders are placed.
- Order Deletion Hour: The specific hour (in terminal time) for deleting orders.
- Stop Loss: Set as a percentage of the average volatility.
- Take Profit: Also set as a percentage of the average volatility.
- Reverse Positions: Enable to reverse positions when needed.
- Martingale: An option to enable the Martingale strategy.
- Multiplier: The multiplier used for the Martingale strategy.
What's great about this EA is that the trading instrument doesn't matter; as long as you've done your optimization, you're good to go. The timeframe also isn't a big concern since everything operates based on the terminal time.
Recommendations:
- Optimize your parameters over a period no greater than one year; anything longer is usually unnecessary.
- Plan on reoptimizing every three months to keep your strategy sharp.
- If you encounter any issues, don’t hesitate to reach out. I’m here to help and will do my best to resolve any problems.
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