Brandy
This is a powerful addition to your MetaTrader 4 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Brandy
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.
Description & Settings
The Expert Advisor uses two moving averages: the slow MA is used to receive the entry signal, the fast MA - exit signal.
Opens Buy, if the slow MA moves upwards. Closes, when the fast MA falls.
Opens Sell, if the slow MA moves downwards. Closes, when the fast MA rises.
That's it! And no intricacies, no crossings of moving averages, etc. :)
Here is the
optimization result
for a year from July 2007 to July 2008
Any optimization shows profitable images. But how does the EA trade on an interval after the optimization, on a period it knows nothing about?
Let us try performing a
three-month forward test
- test it on the interval from July 2008 to today (second half of October). This results in a test interval of three and a half months after optimization.
As you can see, the EA is still profitable after optimization for more than three months.
Parameters to be optimized:
p1, p2 - the period of averaging for calculating the Moving Average. Optimized with the values from 2 to 100 with step of 1.
s1, s2 - shift relative to the current bar by the specified number of periods back. Values from 2 to 20 with step of 1.
sl - stop loss of the opened positions. Optimized with the values from 10 to 100 with step of 5.
ts - maintain the open positions with a trailing stop. Optimized with the values from 100 to 200 with step of 5.
If ts is less than 100, trailing is disabled. This is done so that the trailing does not interfere with the EA operation, but servers as safety measure. For example, if connection is lost, when the EA can not close the position itself.
To disable trailing, it is set the value of the ts variable to less than 100. For example, ts = 0 - trailing is disabled.
The EA works when a new bar appears. Therefore, optimization should be performed according to the model: "Open prices only (fastest method to analyze the bar just completed, only for EAs that explicitly control bar opening)."
P.S. The EA in the source code is not optimized.
