Bill Williams Trading System Expert Advisor
Info
The Bill Williams Trading System Expert Advisor is a Expert Advisor for MetaTrader 4 that expert advisor based on the principles described in the "new trading dimensions" book by bill williams. This Expert Advisor (EA) is designed for live trading and incorporates an error processing and fixing function, along with intelligent lot size adjustment.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Bill Williams Trading System Expert Advisor
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
Expert Advisor based on the principles described in the "New Trading Dimensions" book by Bill Williams.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: ema plus williams %r expert advisor - another powerful expert for MetaTrader 4 traders.
Expert Advisor based on the principles described in the "New Trading Dimensions" book by Bill Williams.Also recommended: EMA Plus Williams %R Expert Advisor v1.1 - similar expert with strong performance on MetaTrader 4.
This Expert Advisor (EA) is designed for live trading and incorporates an error processing and fixing function, along with intelligent lot size adjustment.
The EA's functionality is well-commented.
It supports two signal types: Classic and Pending. The signal type is determined by the relative positioning of the Alligator indicator lines.
Recommended settings for H4 charts (optimization may be required for specific pairs):
filter=30
gator_div_slow=250
gator_div_fast=150
Recommended timeframes: Hourly and above.
Trading logic:
Buy orders are placed when a Fractal breaks above the Alligator's teeth.
Sell orders are placed when a Fractal breaks below the Alligator's teeth.
Trailing stop is managed using the red line of the Alligator indicator and Fractals.
The EA manages only one open position at a time. Pyramiding, as described in the book, is not implemented.
Compatibility: This EA is designed to work exclusively with 5-digit price quotes.
You may also like: EMA and Williams %R Trend Trading Expert Advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
input double risk=0; // percent
input double fix_lot=0.01; // lot
input double filter=30; // filter
input int magic=70100; // magic
input string comment="bill_williams"; // comment
input double gator_div_slow=250; // delta lips_gator & teeth_gator.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.