Are you ready to take your trading game to the next level? Let’s dive into the Trend Reversal Expert Advisor (EA) for MetaTrader 4! This nifty tool employs naked trading and price action strategies to help you spot trend reversals.
The Trend Reversal EA draws four trend lines based on fractals—two main lines and two smaller ones—right on your chart. It’s designed to trade only when the price action aligns with these trend reversals. Plus, it comes equipped with a trailing stop loss and take profit feature that works seamlessly across all time frames and with major forex pairs and NASDAQ stocks.
Key Features
- Always start with a demo account to test it out before risking real money.
- This EA operates exclusively with the price of the open candle!
- If you prefer to avoid increasing your lot size after a loss, set IncreaseFactor=0.
- This EA combines simple moving averages and trend lines for a robust trading strategy.
- Note that trend lines won’t function in test mode.
- Optimization tests can only be run using moving averages.
- In live trading, both the trend lines and moving averages will work together to enhance your strategy.
- During backtesting, the EA will only display the trend lines visually without using them in trade creation.
- The trend lines serve as filters, boosting your chances of winning trades.
Input Settings
- Use_TP_In_Money: Enable take profit in monetary terms (values: true/false).
- TP_In_Money: Set take profit in money (values: 10-100).
- Use_TP_In_percent: Enable take profit in percentage (values: true/false).
- TP_In_Percent: Set take profit in percentage (values: 10-100).
- Enable_Trailing: Activate trailing stop with monetary settings (values: true/false).
- Take Profit In Money: Set take profit in your current currency (values: 25-100).
- Stop Loss In Money: Set stop loss in your current currency (values: 1-20).
- Exit: Close trades if the trend goes against you to control drawdown (values: true/false).
- Lots: Specify lot size (values: 0.01-1).
- Lots size Exponent: Set the exponent for lot size (values: 1.01-2).
- IncreaseFactor: Determine the increase factor for lots after a losing trade (values: 0.001-0.1).
- Stop_Loss: Define your stop loss (values: 30-500).
- MagicNumber: Assign a magic number for the EA (values: 1-100000).
- TakeProfit: Set your take profit (values: 50-200).
- FastMA: Define the fast moving average period (values: 1-20).
- SlowMA: Define the slow moving average period (values: 50-200).
- Mom_Sell: Set the momentum sell trigger (values: 0.1-0.9).
- Mom_Buy: Set the momentum buy trigger (values: 0.1-0.9).
- UseEquityStop: Enable equity stop (values: true).
- TotalEquityRisk: Define total equity risk (values: 0.01-20).
- Max_Trades: Set maximum trades allowed (values: 1-12).
- If using only one trade:
- USETRAILINGSTOP: Activate trailing stop (values: true/false).
- WHENTOTRAIL: Specify when to start trailing (values: 40-100).
- TRAILAMOUNT: Set the trail amount (values: 40-100).
- Distance From Candle: Set distance from the candle (values: 1-100).
- USECANDELTRAIL: Enable candle trailing stop (values: true/false).
- X: Number of candles (values: 1-100).
- Enable "Break Even": Activate break-even feature (values: true/false).
- When move "Break Even": Set the distance to move to break even (values: 5-30).
- How much pips move "Break Even": Define pip movement for break even (values: 5-30).
Make sure to optimize this EA every few months using the same inputs listed above. You can use it as a hedging grid EA or as a single trade EA. Not sure how to perform a backtest? Check out this handy guide: Backtest Guide.
Comments 0