PZ Reversal Trend Following EA
Info
The PZ Reversal Trend Following EA is a Expert Advisor for MetaTrader 4 that this expert advisor (ea) is designed for trend following, a strategy that involves being either long or short in the market at any given time. It is based on the principle of identifying and capitalizing on significant price movements.
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 PZ Reversal Trend Following EA
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 expert advisor (EA) is designed for trend following, a strategy that involves being either long or short in the market at any given time.
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 expert advisor (EA) is designed for trend following, a strategy that involves being either long or short in the market at any given time. It is based on the principle of identifying and capitalizing on significant price movements.Also recommended: forces momentum: trend determination tool - similar expert with strong performance on MetaTrader 4.
The EA operates on a simple rule: if the current price closes above the highest price in the previous 100 days, it enters a long position and exits a short position. Conversely, if the current price drops below the lowest price in the previous 100 days, it enters a short position and exits a long position.
The strategy is intended to be applied across a diverse range of financial instruments, including forex, commodities, indexes, interest rates, government bonds, and sectorial stocks. The idea is to capture major trends that can offset smaller losses incurred in other trades.
This approach is inspired by successful trend followers like Bill Dunn, who achieved remarkable profits by employing a similar reversal system in 1995, leveraging the Japanese yen's trends.
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"
#import "stdlib.ex4"
string errordescription(int e);
#import
#define shortname "pz reversal trend following ea"
#define shift 1
extern string tr_ex = "------- trade period";
extern int tradingperiod = 100;
extern string mm_ex = "------- money management";.......
⚠ 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.