Newcomers to the forex market often experiment with new techniques and methods to generate profits a
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For many traders, the 200 MA is considered one of the main trend indicators. When the price crosses this line, it most often indicates a long-term trend in the direction of the intersection. The FG_MA_Trader Expert Advisor strives to use these prerequisites and enter the market based on a simple set of rules.
Several options for closing deals.
Several options for trailing stop loss.
Support for both exclusively Alerts and email alerts.
The FG_MA_Trader Expert Advisor should be used in the strategy tester and tested on the history for at least a year. Carefully adjust the settings to get the best results. As soon as the settings become satisfactory, save the configuration, and in real trading, simply load the settings related to the pair on which the Expert Advisor works.
Try not to use it when the market is flat or unstable, and the 200 passes in the middle. It is better to enable the “alerts only” parameter and make decisions manually. The undulating market is most suitable for this Expert Advisor, and since it is trying to find large trend changes, it will need a stop loss that provides freedom of movement.
The settings for each pair will be unique, changing even one parameter by a small value can lead to big changes. For some currency pairs, only a break-even and a high take profit are needed to maximize profits, for others, a trailing stop loss, and for others, the closing of the alligator is necessary. Test on the history for at least a year, select and optimize the settings. Try and reach a profit factor of 1.8 or higher with a relative drawdown below 30%.
The screenshots show the settings for 3 pairs on 4-hour timeframes, which seemed to me the most optimal for these pairs.
- Alert Only: false by default: if true, the arrows on the chart will be displayed 1 bar earlier than the Expert Advisor would potentially open a trade.
- Take Profit: by default, 500: The number of pips to set a take profit. It cannot be equal to 0.
- Stoploss: by default, 50: The number of pips to set a stop loss. It cannot be equal to 0.
- Lot Size: default 0.01: The default lot size of transactions.
- Use Move To Breakeven: by default, true: moves the stop loss by the number of PipsToLockin, as soon as the “When To Move To Breakeven”level is broken.
- When To Move To Breakeven: by default, 30: the number of pips in the plus for moving the stop loss to the value “Pips to lock in”.
- Pips to lock in: by default, 5: the number of pips to lock in when the breakeven level is broken. This parameter is often set equal to the spread a bit of the pair in question.
- Use Trailing Stop: by default, true: enables trailing stop loss.
- When To Trail: by default, 75: the number of pips to start trailing. As soon as this parameter is reached, the Expert Advisor will trail a stop loss at a distance of Trail Amount from the price.
- Trail amount: by default, 50: the number of pips for trailing when the Expert Advisor starts trailing a stop loss.
- Use Candle Trail: by default false: if the value is set to true, the value of Use Trailing Stop should be set to false. Enables trailing stop loss for the number of past candles specified in the Candles Back parameter with an additional buffer set in the Candle Trail Pad parameter.
- Candle Trail Pad: by default, 10: the number of pips to add to the value of the number of candles behind the current price.
- Candle Trail Candles Back: by default, 3: the value of the candle from the current bar, on which the stop loss will be set.
- Use Alligator Close: by default, false: Uses the teeth of the Alligator indicator to close the deal. That is, if the price opens on one side of the “lips” and closes on the other, the Expert Advisor will close the deal.
The settings for the alligator do not need to be changed. The reason why they are all configured is in case you want to use “teeth” rather than “lips”to close deals. Then you can set the settings of the “lips” the same as those of the “teeth”.
The Alligator settings have been reset to the default settings on MetaTrader 4.
- Send Email 1 candle before trade: by default false: if true, the Expert Advisor will send an email notifying that the Expert Advisor will trade on the next candle, if the necessary conditions are met. The same email settings are used as on the MetaTrader 4 platform.
- Magic Number: by default, 2323: a number for identifying transactions. If you have 2 Expert Advisors working on 2 different charts for one pair, this number will need to be changed to a unique number for each pair, otherwise the Expert Advisors will start interfering with each other’s work.
Have a good trade!
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