Charles 2.1.5

Related: Charles-1. 3. 3 - another powerful expert for MetaTrader 4 traders.

Checks for special volatility conditions to open orders below the spike.

Checks for training conditions to follow the trend when possible.

Also recommended: Charles-1. 3. 7 - similar expert with strong performance on MetaTrader 4.

Introduces the concept of pivot, resistances, and supports, computed hourly to minimize losses by catching good price retraces.

Introduces the concept of an order basket to compensate for losing orders and minimize drawdown.

Exposes numerous configuration parameters for strategy customization.


Parameters:

Note: If you encounter a "zero divide" error, verify the symbols provided in the "symbols" parameter. Potential issues:

- Your broker may not support all specified symbols. Use only supported symbols.

- Your broker may use different symbol names. Ensure you use the correct names provided by your broker.

For using the EA on a single chart and symbol, attach the EA to the chart, set the magic number, and leave the symbols field empty.

Parameters:

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0) Timeframe is irrelevant. The EA internally checks required timeframes.

1) Symbols: Comma-separated list of symbols for the EA to manage in a single instance. Leave empty for the EA to work only on the current chart/symbol.

symbols = "eurusd,eurgbp,eurjpy,chfjpy,gbpusd,gbpjpy,gbpchf,gbpaud,usdcad,usdchf,usdjpy,audnzd,audusd,nzdusd";

2) MagicNumber: Assigned to every order handled by the EA.

magicnumber = 3939;

3) XFactor: Multiplier for hedge orders.

xfactor = 1.8;

4) TimeSet: Broker time used to reset pending orders daily.

timeset = "07:32";

5) RiskPercent: Attempt to recover losing orders if the balance decreases by this percentage.

riskpercent = 5;

6) RiskPerTrade: Risk for each lot automatically computed by the EA. The EA cannot open a lot smaller than the min lot. If "0", the EA uses the fixed lot value from the "lots" field.

riskpertrade = 10;

7) MaxAllowedOrders: Maximum number of accessory orders, opened under specific conditions like volatility spikes or RSI+MMA trend matches.

maxallowedorders = 15;

8) MaxOpenHours: Orders older than this value will be closed. "0" means no age check.

maxopenhours = 0;

9) ProfitCheckPeriod: Number of 15-minute bars of flattened market considered for closing a winning order. Works only if the overall profit is positive.

profitcheckperiod = 3;

10) Aggressive: If true, considers H1 timeframes for breakouts instead of H4 and daily, significantly increasing trade frequency. Use with caution.

aggressive = false;

11) UsePivots: If true, pivots, resistances, and supports are used to recalculate take profits for losing orders, potentially closing them in negative territory to minimize losses. Pivots are checked hourly.

usepivots = true;

12) Parameters for RSI+MMA trend condition checks:

fastperiod = 18;

slowperiod = 60;

selectivity = 14;

13) Lots: Fixed value used if riskpertrade = 0.

lots = 0.01;

14) Slippage: Slippage in pips.

slippage = 3;

15) ECN: Support for ECN accounts.

ecn = true;

16) MarginPercent: Attempt to maintain this margin percentage before opening more orders. Does not prevent losses for already opened trades.

marginpercent = 20;

17) StopLoss: Stop loss in pips.

stoploss = 0;

18) Trailing values applied to winning orders only when all profits are positive. Otherwise, a basket is used to close as many losing orders as possible with one winning order:

trailstart = 20;

trailingamount = 3;

19) TakeProfit: Offset applied to pivot-computed take profits.

takeprofit = 20;

20) AllOrders: If true, ignores magic number and manages all orders based on the allsymbols setting.

allorders = true;

21) AllSymbols: If true, ignores managed symbols and manages all orders.

allsymbols = true;

22) LogToFile: If true, writes logs to a file.

logtofile = false;

23) InitResetOrders: If true, resets pending orders at initialization.

initresetorders = true;

24) Trading allowed hours and force close conditions. "CloseAllNow" forcibly closes all orders. "FridayCloseTime" forcibly closes all orders after this Friday hour. "0" ignores this and leaves orders open.

starthour = 0;

endhour = 24;

closeallnow = false;

fridayclosetime = 0;

You may also like: grid trading algo - excellent alternative for expert users on MetaTrader 4.

#property copyright "robotfx"
#property link "https://robotfx.org"
#define ver "2.1.8"
#define decimal_conversion 10
extern string comment_1           = " -- comma separated list of symbol pairs: eurusd,usdchf";
extern string comment_1a          = " --- must be equal to the string of your account provider.";
extern string symbols             = "";
extern int    magicnumber         = 3939;
extern double xfactor             = 2;
extern string timeset             = "07:32";

.......

• 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.