Trend Expert Advisor based on the Escort strategy
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 Trend Expert Advisor based on the Escort strategy
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 opens an order by the trading strategy, places a take profit and a stop loss It protects the position by moving the stop loss to breakeven, and maintains it with a trailing stop.
The strategy uses the indicators of the MetaTrader 4 terminal: the moving averages of two periods, the MACD indicator and the CCI indicator. The parameters of the indicators are available in the EA settings. A detailed description of the strategy, the EA settings and the testing results are given in the video.
Video:
The EA settings are given for the GBP/USD pair. The archive contains .set files: optimized for 2015 (2015) and with universal parameters (univ).
Test result with the optimized parameters for 2015:
Test result with the universal parameters for 2015:
The result of trading on the live cent account from 23.06.15 to 10.07.15 with the universal parameters:
For the currency pairs with floating spread it is recommended to increase the size of stop loss by the amount of the average spread in the optimized settings.
Recommendations:
This trading strategy is not the "Grail" and there are losing trades. The EA keeps one open market order, and skips new signals by the strategy until it closes the order. The best results have been detected on the trending volatile pairs. This is not a fully-featured trading robot, and it can incorrectly open and maintain trades on some account types. It can lose the deposit during a change in the market volatility, during a prolonged flat and force majeur events.
The unique number of the EA code revisions:
