mean reversion
Info
The mean reversion is a Expert Advisor for MetaTrader 4 that try it on demo first. this ea trades only with the price of open candle.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
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 mean reversion
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
try it on demo first.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis 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: master exit plan - another powerful expert for MetaTrader 4 traders.
try it on demo first.
this ea trades only with the price of open candle!
if you do not want to trade with increasing lot size when you lose a trade set:"increasefactor=0" inputs
Also recommended: virtual profit close - similar expert with strong performance on MetaTrader 4.
use_tp_in_money- use take profit in money (values:true/false).
tp_in_money- take profit in money (values: 10-100).
use_tp_in_percent- use take profit in percent (values:true/false).
tp_in_percent- take profit in percent (values: 10-100).
------------[money trailing stop for multiple trades]----------------------
enable_trailing-enable_trailing with money (values:true/false).
take profit in money (in current currency) (values: 25-200).
stop loss in money(in current currency) (values: 1-20).
--------------------------------------------------------------------------------------
exit= close trades if the trend is against you and control draw dwon (values:true/false).
barstocount= bars to count (values: 1-20).
lots - lots size (values: 0.01-1).
lots size exponent (values: 1.01-2).
increasefactor -how much to increase lots from total margin if you lose a trade (values: 0.001-0.1).
stop_loss - stop loss (values: 30-500). /set value 600 for multiple trades
magicnumber - magic number (values: 1-100000).
takeprofit - take profit (values: 50-200). /set value 600 for multiple trades
fastma - fast moving average (values: 1-20).
slowma - slow moving average (values: 50-200).
mom_sell-momentum_sell trigger(values: 0.1-0.9).
mom_buy-momentum_buy trigger(values: 0.1-0.9).
---------------------control draw down-----------------------------
useequitystop - (values:true/false).
totalequityrisk- (values: 0.01-20).
-------------------------------------------------------------------------------
max_trades(1-12).
fractalnum= number of high and low(values: 1-10).
----------------if you use only 1 trade:-----------------------
/////////////////////////////////////////////////////////////////////
usetrailingstop-if use trailing stop (values:true/false).
whentotrail-when to trail (values: 40-100).
trailamount-trail amount (values: 40-100).
distance from candle -distance from candle (values: 1-100).
usecandeltrail=if use trailing stop (values:true/false).
x=2-number of candles (values: 1-100).
usemovetobreakeven-enable " break even " (values: true/false).
whentomovetobe-when to move break even (values: 1-30).
pipstomovesl=30-how much pips to move stop loss (values: 1-30).
-you should optimize this ea every few months and use the exact same inputs from above .-you can use it as hedging grid ea or a single trade ea.-how to perform back test:
You may also like: the power of envelopes - excellent alternative for expert users on MetaTrader 4.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
extern bool Use_TP_In_Money=false;
extern double TP_In_Money=10;
extern bool Use_TP_In_percent=false;
extern double TP_In_Percent=10;
input string txt32 = "------------[Money Trailing Stop]---------------";.......
⚠ 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.