MT4 version of the Trading King Expert Advisor

Performance monitoring: link

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Extended version of the Trading King Extended MT5 Expert Advisor 

The strategy of the Expert Advisor is based on the assessment of the strength of the trend and finding points of correction/reversal, comparing the absolute values of the growth and fall of the market for a certain time period. Filters are used for time, spread widening, increased volatility, slippage, and day of the week. Suitable for working with any brokers, including American brokers with a FIFO requirement. All orders are accompanied by a virtual stop loss and take profit in pips. The chart displays various information and indicators of indicators. The recommended minimum deposit is $ 200 for 0.01 lots. Take profit is 50-70 pips with a spread of 20 pips. The timeframe is set in the parameters of the Expert Advisor, the default parameters are optimized for EURUSD

If STOPLOSS_IN_PIPS = TRUE, then STOPLOSS is set in pips, otherwise in % of the balance. STOP_TRADING = TRUE, the Expert Advisor will stop trading when it receives a loss and send a notification to the MetaQuotes ID and E-Mail. If orders are opened in the opposite direction at the time of the loss, the EA will switch to the mode of closing all orders at the breakeven level

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The take profit is initially set from the opening price of the first order. If N is the number of open orders specified in the START_ZEROLEVEL parameter, the take profit will be set from the breakeven level. If the number of orders has reached the specified value in START_BREAKEVEN, the EA will close all orders at breakeven

If the day of the week is set to FALSE, and there are open positions in the market, the EA will switch to the mode of closing orders at breakeven, a new cycle of orders will not be opened

The trading lot is calculated using the formula: Balance / FROM_BALANCE*FIX_START_LOT.

For the news filter to work, you must: In the trading terminal, in the menu, open “Tools” – – – > “Settings” – – – > > “Expert Advisors” – – – > > > add address “” in the “Allow WebRequest for the following URLs” field. 

The Expert Advisor’s working time is set according to your broker’s server time in the Market Overview.

For the first acquaintance with the Expert Advisor, I recommend turning on the visual mode in the strategy tester. 

• INDICATOR_RSI_1, 2-allow the indicator to work;
• TIMEFRAME_RSI_1, 2 – the RSI timeframe;
• PERIOD_RSI_1, 2 – the number of bars to determine overbought/overbought;
• SHIFT_RSI_1, 2-the offset of the RSI;
• APPLICED_PRICE_1, 2 – select the price for calculations;
• OVERBOUGHT_PCT_1. 2 – overbought percentage to open a SELL order;
• OVERSOLD_PCT_1. 2 – oversold percentage to open a BUY order;
• TIMEFRAME_ATR – ATR timeframe;
• PERIOD_ATR – the number of bars to calculate the average volatility;
• NUMBER_LAST_BARS – number of last bars;
• MAX_CHANGE_PCT – the maximum size of the last closed bar to open an order, set as a percentage of the ATR;
• MIN_CHANGE_PCT – minimum bar size;
• START_HOUR, START_MINUTE – the hour and minutes of the start of trading;
• STOP_HOUR, STOP_MINUTE – the hour and minutes of the end of trading;
• MAX_ORDERS – maximum number of orders in one direction;
• IGNORE_SIGNAL – if = TRUE, and there are already open positions, the signal to open the opposite order will be ignored until the number of orders is equal to 0 or MAX_ORDERS;
• MAX_SLIPPAGE – maximum slippage;
• MAX_SPREAD – maximum spread;
• FIX_START_LOT – fixed starting lot for each N amount from the balance (FROM_BALANCE);
• FROM_BALANCE – N the balance amount for calculating the starting lot (FIX_START_LOT);
• STOPLOSS_IN_PIPS – if TRUE, then STOPLOSS is set in pips, otherwise in % of the balance;
• STOPLOSS-stop loss
• STOP_TRADING – stop trading when you receive a loss
• TAKEPROFIT – takeprofit in pips
• START_ZEROLEVEL – for N number of orders, the take profit will be set from the breakeven level
• START_BREAKEVEN-close all orders at breakeven if the number of orders has reached the specified value
• TIMEFRAME_BAR – timeframe for defining a new bar
• MAGIC_NUMBER – magic number
• SHOW_INFORMATION-display information on the chart

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