daily trend reversal d1
Info
The daily trend reversal d1 is a Expert Advisor for MetaTrader 4 that description:this expert advisor (ea) utilizes the daily opening (o1), high (h1), and low (l1) prices as its underlying data. the filter base is formed by the distances between these values in a maximum of 3 steps, confirmed by the commodity channel index (cci).
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 daily trend reversal d1
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
description:this expert advisor (ea) utilizes the daily opening (o1), high (h1), and low (l1) prices as its underlying data.
Typical Use Case
This Expert Advisor excels in trend following 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: lx eurjpy: an adaptive trend-following expert advisor - another powerful expert for MetaTrader 4 traders.
description:Also recommended: forces momentum: trend determination tool - similar expert with strong performance on MetaTrader 4.
this expert advisor (ea) utilizes the daily opening (o1), high (h1), and low (l1) prices as its underlying data.the filter base is formed by the distances between these values in a maximum of 3 steps, confirmed by the commodity channel index (cci).
use:
ensure that both your pc and ea are turned on during the trading hours of 5-18:00 gmt.
the ea is optimized for simultaneous trading with up to 9 currency pairs.
please be aware that forex trading is highly risky. your margin should not exceed 20% of your account balance.
lots: the default setting for lots is 0.1. if you are trading on a micro account, change this setting to 0.01.
automatic trading: by setting "autotrading = false", you can disable the opening of positions during trading hours. the ea is fully automated, ensuring that trading is reviewed at the end of each day and a balance is drawn at the weekend.
reversal: with "reversal = true", you can close open positions (potentially with negative results) when a trend reversal occurs.
stoploss / takeprofit: "ordersl" allows you to set a stoploss if one hasn't been generated by the system yet, and "ordertp" for a takeprofit.
profitstop: using "profitstop" (recommended: 200 eur or usd per 0.1 lots) will close all positions when the profitstop is reached. the profitstop decreases to 10% of its set value by the end of the trading day.
settings: you can view your current settings in the relevant chart by pressing f4, and you can change these values at any time.
gmt / time difference: if the chart time (broker time hh:mm) differs from gmt (hh:mm), you must adjust the difference (in hours) under "gmt_diff". gmt is the basis for all time indications. for example: chart time - gmt = gmt_diff (16:30 - 15:30 = + 1)
manual trading: during the trading hours of 5-14:00 gmt, a position with the lot value (0.1) will be opened if there is no open position for that currency pair. if a position is opened at 5:00 gmt and fully closed by, for example, 8:00 gmt, a new position will be opened on the next trading signal until 14:00 gmt. to open only one position, reduce the trading time; to open more, increase it.
modifying and closing positions: when the holding time "holdinghours" (10 = 10 hours) or "gmtclosinghour" is reached, a positive position will be closed, and a negative position will modify the tp to the opening value of that position.
You may also like: starter trend-following expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
extern bool autoTrading = true;
extern bool Reversal = true; // Position schlieЯen bei Trendwechsel
extern string SelectSteps = "1=h1-Bid>Risk, 2=o1-l1>Risk, 3=Bid-o1<10";
extern int trendSteps = 3; // 1=(h1-Bid)>Risk*digitFactor*Point
extern double Lots = 0.1;
int OrderTyp = 0; // extern // 0=Long&Short, 1=Long, 2=Short;
extern string StopLoss_TakeProfit_ProfitStop = "OrderSL=0, OrderTP=30, ProfitStop=200";
extern double OrderSL = 0;.......
⚠ 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.