Four Screens
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. 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 Four Screens
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
Trades one currency pair, for example EUR/USD, on 4 charts (timeframes M5, M15, M30, H1). The Heiken Ashi is attached to every chart. The data is measured on the formed bar for M5, and on the current one for other timeframes.
The EA Operation Principle:
Sell order:
When all four charts have red candles, it places a Sell order (with fixed Take Profit and Stop Loss, for example 20 points each). If Take Profit is triggered and the candles remain red, then a new Sell order is placed immediately, but if a candle is white on any of the charts, then wait for the market entry. Enter the market once all four charts have red candles.
Buy order:
The principle is the same: when all four charts have white candles, it places a Buy order (with fixed Take Profit and Stop Loss, 20 points each). If Take Profit is triggered and the candles remain white, then a new Buy order is placed immediately, but if a candle is red on any of the charts, then wait for the market entry. Enter the market once all four charts have white candles.
If Stop Loss was triggered, regardless of the trading direction — Buy or Sell, then the next order by the indicator signal on four charts is doubled (for example, if lot was 0.01, then the next one will be multiplied by 2 etc. until a Take Profit is triggered, in case a Take Profit is triggered the lot is returned to its initial value, i.e. 0.01).
Trading occurs when all the charts have the same colored candles (red or white).
Expert Advisor Input Parameters:
Lot
Order points (Stop Loss and Take Profit)
Standard Trailing is added in v2.
If the order is closed in profit, and there is a signal, a new order is only opened during the opening of a new bar.
