Simple Williams
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. 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 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.
Description & Settings
The Expert Advisor based on the "New Trading Dimensions" book by Bill Williams.
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!
