simple williams
Info
The simple williams is a Expert Advisor for MetaTrader 4 that the expert advisor based on the "new trading dimensions" book by bill williams. the code was written for real trading.
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 simple williams
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 expert advisor based on the "new trading dimensions" book by bill williams.
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: simple trailing position management library - another powerful expert for MetaTrader 4 traders.
the expert advisor based on the "new trading dimensions" book by bill williams.
Also recommended: simple trailing stop - similar expert with strong performance on MetaTrader 4.
the code was written for real trading. there is an error processing and fixing function, intellectual lot adjustment. the operation of the ea is decently commented. two types of the signals: classic and pending. the type of the signal depends on the mutual arrangement of the alligator lines.filter=30, gator_div_slow=250, gator_div_fast=150 — the estimated value for the h4 chart (each pair requires optimization). recommended timeframe — hourly and above.
buy at the breakthrough of the fractal above the alligator's teeth. sell at the breakthrough of the fractal below the alligator's teeth. trailing stop at the red line of the alligator, as well as the fractals. holds only one position. pyramiding (as in the book) is not used.
it works with 5-digit quotes only!
You may also like: simple pivot 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 strict
input double risk=0; // percent
input double fix_lot=0.01; // lot
input double filter=30; // filter
input int magic=70100; // magic
input string comment="bill_williams"; // comment
input double gator_div_slow=250; // delta lips_gator & teeth_gator.......
⚠ 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.