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
externstring separator1 = "------trend settings------"; externbool useEMAtrend = true; // trade in EMA trendexternint barsInTrend = 1; // how many bars should be in trendexterndouble EMAtrend = 144; // EMA period for trendexternstring separator2 = "------WPR settings------"; externdouble iWPRPeriod = 46; // WPR period for enter and exitexterndouble iWPRRetracement = 30; // minimal retracement for WPR to allow another tradeexternbool useWPRExit = true; // use exit with WPR indicatorexternstring separator3 = "------position settings------"; externdouble lots = 0.1; // fixed lot sizeexternint maxTrades = 2; // max trades allowed for pyramidingexterndouble stop_loss = 50; // stop lossexterndouble take_profit = 200; // take profitexternbool useTrailingStop = false; // use trailing stopexterndouble trailing_stop = 10; // trail stop lossexternbool useUnprofitExit = false; // exit trade when trade was not in profit in defined amount of barsexternint maxUnprofitBars = 5; // amount of bars not in profit
Let me know how it goes!
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