The Four Screens strategy is a powerful way to trade a single currency pair, such as EUR/USD, across four different timeframes: M5, M15, M30, and H1. This method utilizes Heiken Ashi candles on each chart to help traders identify trends effectively.
How the EA Works:
Sell Orders:
When you see red candles on all four charts, the EA automatically places a Sell order with a fixed Take Profit and Stop Loss—let’s say 20 pips each. If your Take Profit is hit and the candles are still red, it will instantly place another Sell order. However, if any chart shows a white candle, it’s time to hold off until the conditions are right again. You should only enter the market when all four charts align with red candles.
Buy Orders:
The process for Buy orders is quite similar. When all four charts display white candles, the EA places a Buy order with the same fixed parameters of 20 pips for both Take Profit and Stop Loss. If the Take Profit is triggered and the candles remain white, another Buy order will be placed right away. But if any chart shows a red candle, wait it out until you have all four charts indicating white candles before entering the market.
In the event that your Stop Loss is hit—regardless of whether you're buying or selling—the next trade signal will have its lot size doubled. For instance, if your initial lot size was 0.01, the next order will be 0.02, and so on, until you hit a Take Profit. Once that happens, the lot size resets back to 0.01.
Essentially, trading occurs only when all charts display candles of the same color, either red or white.
Expert Advisor Input Parameters:
- Lot Size
- Order Points (Stop Loss and Take Profit)
With the introduction of version 2, standard trailing is also included.
If an order is closed in profit and there’s a new signal, the EA will only open a new order with the start of the next bar.
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