Author: afabiani (AlFa)
Hey fellow traders! Today, I want to share a nifty little Expert Advisor (EA) that's making waves in the trading community: the Charles-1.3.3 for MetaTrader 4. This EA is designed to spot price movements and breakouts, and it doesn’t stop there. It keeps the orders rolling in to help you aim for those sweet global profits. Plus, it has a knack for scalping pips when the market is in your favor, which is a big win!
One of the best things about this EA is its versatility. It’s compatible with most currency pairs and works across all timeframes. While it might not promise astronomical returns, it focuses on capital preservation, delivering steady, small profits with minimal drawdown.
What’s more, if your profits dip below a certain percentage of your balance, the EA kicks into action, placing hedge orders to mitigate losses. It’s always on the lookout for the right indicators to help you exit any tricky situations.
Now, I should mention that while this EA is pretty stable, there’s room for improvement. You might find that tweaking some parameters or stepping in manually could enhance its performance, especially depending on market conditions.
If you find this EA useful and you have some Forex trading experience under your belt, I’d love to hear your thoughts and suggestions for improvement. Also, if you have a chance to test it out and spot any bugs, please let me know!
Key Parameters:
- Anchor[250]: PIPS displacements for up/down orders
- xFactor[0.7]: Lots xFactor multiplier for additional orders
- Amount[1.0]: Initial profit target (indicative, automatically computed by the EA)
- RiskPercent[10]: Percentage of account balance you’re willing to risk (I recommend keeping it below 10%)
- LotPercent[10]: Percentage of lots to trade
- Lots[0.01]: Number of lots, only considered when LotPercent is set to 0
- Slippage[2]: Acceptable slippage on orders
- MACD Settings:
- - Qema[10]: Quick MACD EMA period
- - Sema[32]: Slow MACD EMA period
- - Signalmacd[4]: MACD Signal period
- EMA Settings:
- - Fastema[8]: Fast EMA period
- - Slowema[14]: Slow EMA period
- AllOrders[false]: Determines whether to consider all orders for the symbol, including manual ones
- LogToFile: Option to log activity to a file in the MT4 folders
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