Tops and bottoms in trend
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. 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 Tops and bottoms in trend
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
This EA buys when at new low in a down trend occurs with oversold rsi.
inputs for trending range and quality including look back how many bars involved.
sells at new high and same as buy.
Past candle count , look back period for trend conditions.
past pips , pip look back range minimum range.
trend quality 1-10 , 1 being loose trend / 10 quality trend.
stop are placed in pips targets are a percent of stops.
100 being a 1:1 risk reward ratio . 200 1:2 ect
lots set at 0.01 , variable.
rsi period set at 14, variable and oversold and overbought levels set at 40/60 variable.
preset parameters may not be profitable , lots of inputs for optimization.
ignore input 17 takeprofitinpips set at 5pips
