SAW System 1 Expert Advisor
Info
The SAW System 1 Expert Advisor is a Expert Advisor for MetaTrader 4 that the saw_system_1 expert advisor is designed to strategically place pending orders based on historical volatility. It calculates the stop loss and take profit as a percentage of average volatility over a specified number of days, ensuring a dynamic risk management approach.
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 SAW System 1 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
The SAW_System_1 Expert Advisor is designed to strategically place pending orders based on historical volatility.
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: e-trailing2: enhanced trailing stop expert advisor - another powerful expert for MetaTrader 4 traders.
The SAW_System_1 Expert Advisor is designed to strategically place pending orders based on historical volatility. It calculates the stop loss and take profit as a percentage of average volatility over a specified number of days, ensuring a dynamic risk management approach.Also recommended: e-signal of trade expert advisor - similar expert with strong performance on MetaTrader 4.
Key Features:
- Volatility-Based Order Placement: The EA considers the volatility of the market over the last N days to determine the optimal entry points.
- Dynamic Stop Loss and Take Profit: Stop loss and take profit levels are set as a percentage of average volatility, adapting to market conditions.
- Timed Order Management: Orders are placed at a specific hour (terminal time) and are removed at a designated hour if not triggered, ensuring timely execution.
- Position Reversal: The EA can reverse positions when the stop loss is triggered, maintaining a pending order in the opposite direction.
- Martingale Strategy: Enables a Martingale approach with an adjustable multiplier, allowing for increased lot sizes to recover losses.
Parameters:
- Lot: Trading lot size.
- Amount of Days (for calculating volatility): Number of days used for volatility calculation.
- Hour Installation Orders (terminal time): Hour for placing orders.
- Hour Removal Orders (terminal time): Hour for removing untriggered orders.
- Stop-Loss (percentage of the average volatility): Stop loss value as a percentage of average volatility.
- Take-Profit (percentage of the average volatility): Take profit value as a percentage of average volatility.
- Reverse Positions: Enable position reversal.
- Martingale: Enable Martingale strategy.
- Multiplier: Martingale multiplier.
Optimization and Recommendations:
- Instrument and Timeframe Agnostic: The EA is adaptable to various instruments and timeframes, focusing on terminal time for order management.
- Optimization Period: Optimize parameters over a period of up to one year for best results.
- Reoptimization: Consider reoptimizing every 3 months to adapt to market changes.
This Expert Advisor provides a comprehensive approach to volatility-based trading, offering a flexible and dynamic strategy for traders.
You may also like: e-news-lucky$ - automated news trading expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
input double lot = 0.01; // lot.......
⚠ 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.