Trend Catcher Expert Advisor
Info
The Trend Catcher Expert Advisor is a Expert Advisor for MetaTrader 4 that the expert advisor (ea) identifies trends using three moving averages (mas) with periods of 200, 50, and 25 (or other customizable periods). It opens orders based on the Parabolic SAR indicator.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Trend Catcher 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 Expert Advisor (EA) identifies trends using three Moving Averages (MAs) with periods of 200, 50, and 25 (or other customizable periods).
Typical Use Case
This Expert Advisor excels in trend following 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: MD Scalper EA: Trend/Reversal Scalping with Trailing Stop - another powerful expert for MetaTrader 4 traders.
The Expert Advisor (EA) identifies trends using three Moving Averages (MAs) with periods of 200, 50, and 25 (or other customizable periods). It opens orders based on the Parabolic SAR indicator. The EA employs a martingale strategy, calculating the lot size as a percentage of the deposit relative to the stop loss.Also recommended: lx eurjpy: an adaptive trend-following expert advisor - similar expert with strong performance on MetaTrader 4.
Entry Conditions:
- Buy: Current price is above the Parabolic SAR point on the current candle, the previous candle's close price is below the previous Parabolic SAR point, MA is above the first slow MA, and the current price is higher than the second MA with a different period.
- Sell: Current price is below the Parabolic SAR point on the current candle, the previous candle's close price is above the previous Parabolic SAR point, MA is below the first slow MA, and the current price is lower than the second MA with a different period.
The EA closes orders on the opposite signal.
Stop Loss and Take Profit:
- If auto_sl is true, the stop loss is set automatically at the Parabolic SAR indicator level. The sl_koef coefficient can be applied to adjust the stop loss distance. For example, with a 20-point distance between the order price and Parabolic SAR indicator and sl_koef = 2, the stop loss will be set at 40 points.
- If auto_sl is false, the stop loss is fixed at the specified sl parameter in points.
- If auto_tp is true, the take profit is calculated as a multiple of the stop loss using the tp_koef coefficient. For instance, if tp_koef = 2, the take profit will be twice the stop loss.
- If auto_tp is false, the take profit is fixed at the tp parameter in points.
Lot and Martingale Settings:
The order lot size is determined by the percentage of the deposit based on the risk setting and stop loss. For example, with a $1,000 account balance, a 100-point stop loss, and a risk setting of 1 (1% of the deposit), the lot size will be 0.01. If the risk is set to 10, the lot size will be 0.1.
- If martin is true and the previous order resulted in a loss, the risk for the next trade will be increased by the koef factor.
- If martin is false, the EA calculates the lot size as a percentage of the current account balance.
Breakeven and Trailing Stop:
When the position profit reaches profit_level pips, the stop loss is adjusted by sl_plus pips. If the position profit reaches profit_level2 pips, the trailing stop is activated, and the stop loss is trailed by the specified trailingstop2 distance.
You may also like: forces momentum: trend determination tool - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.01"
#property strict
input enum_timeframes candle_tf=period_current;
extern bool close_opposite_signal=true;
extern string a1="trade day of week settings";
extern bool monday=true;
extern bool tuesday=true;
extern bool wednesday=true;.......
⚠ 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.