PZ Reversal Trend Following EA
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 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.
Description & Settings
The developer of this EA is Arturo Lopez, founder of .
Trend following systems can vary, but principle elements remain the same. A reversal system, a very common system, has two modes: you are either long or short. It is always in the market and closes one position by opening a new one in the opposite direction.
With this MT4 Expert Advisor, you can either be long or short at any given time. You enter a long position and exit a short position if the current price closes above the highest price in the previous 100 days. You enter a short position and exit a long position if the current price drops below the lowest price in the previous 100 days.
This system should be applied to a huge variety of instruments to make sure to catch some big trends to pay for the other little losses. You should trade forex, commodities, indexes, interest rates, government bonds and even sectorial stocks. As a sidenote, Bill Dunn is a long term reversal trend follower that exploited the Japanese Yen to extreme levels in 1995 with a reversal system exactly like this one and has reaped incredible profits since then.
