EMA and Williams %R Trend Trading Expert Advisor
Info
The EMA and Williams %R Trend Trading Expert Advisor is a Expert Advisor for MetaTrader 4 that this is an expert advisor designed to trade in the trend of the exponential moving average (ema) and generate buy/sell signals based on the williams %r indicator. OverviewThe goal of this expert advisor is to provide a trading solution that can be used with a starting equity of 1000 EUR, while minimizing drawdown.
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 EMA and Williams %R Trend Trading 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
This is an expert advisor designed to trade in the trend of the Exponential Moving Average (EMA) and generate buy/sell signals based on the Williams %R indicator.
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.
This is an expert advisor designed to trade in the trend of the Exponential Moving Average (EMA) and generate buy/sell signals based on the Williams %R indicator.Also recommended: forces momentum: trend determination tool - similar expert with strong performance on MetaTrader 4.
Overview
The goal of this expert advisor is to provide a trading solution that can be used with a starting equity of 1000 EUR, while minimizing drawdown.
It has been optimized for the EURUSD currency pair on a 5-minute timeframe.
Recent updates include the removal of some bugs, the removal of position sizing, and the addition of some inputs.
You use this expert advisor at your own risk, and it is your responsibility to test, optimize, and modify it to suit your specific trading needs.
Key Features
- Trades in the trend of the EMA
- Generates buy/sell signals based on the Williams %R indicator
- Optimized for EURUSD on a 5-minute timeframe
- Includes user-defined inputs
Disclaimer
Please note that this expert advisor has not been fully optimized and you should test and optimize it for your purpose.
Inputs are available for customization.
You may also like: starter trend-following expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#define none 0
#define up 1
#define down 2
extern string separator1 = "------trend settings------";
extern bool useematrend = true; // trade in ema trend
extern int barsintrend = 1; // how many bars should be in trend
extern double ematrend = 144; // ema period for trend
extern string separator2 = "------wpr settings------";
extern double iwprperiod = 46; // wpr period for enter and exit.......
⚠ 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.