10 Pips Daily Strategy: Trading Against Yesterday's Trend
Info
The 10 Pips Daily Strategy: Trading Against Yesterday's Trend is a Expert Advisor for MetaTrader 5 that this expert advisor aims to achieve a consistent 10 pip profit daily by trading against the trend established in the previous hours. This system opens a single position each day, specifically designed to counter the prevailing trend.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use 10 Pips Daily Strategy: Trading Against Yesterday's 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.
What this tool does
This expert advisor aims to achieve a consistent 10 pip profit daily by trading against the trend established in the previous hours.
Typical Use Case
This Expert Advisor excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Prop Guard Lite: Daily and Max Loss Protection for Prop Firm Accounts - another powerful expert for MetaTrader 5 traders.
This expert advisor aims to achieve a consistent 10 pip profit daily by trading against the trend established in the previous hours.Also recommended: Prop Firm Guard: Daily Loss and Max Drawdown Protection - similar expert with strong performance on MetaTrader 5.
This system opens a single position each day, specifically designed to counter the prevailing trend. The definition of 'trend' within this EA is based on the price difference over a defined number of past bars.
Initial optimization of the EA demonstrated strong performance, with a winning trade ratio of 6 out of 1 and a maximum of 26 consecutive losing trades. To enhance the risk management and further stabilize performance, a martingale element has been incorporated, contributing to a more robust trading curve.
The expert advisor has shown profitable results over the past 7 years. For optimal results with minimal risk, it is recommended to use the money management feature, with lot size optimized over the last 2 years, as older results might be less favorable.
Main Features:
Currency Pair: EURUSD
Timeframe: Any (automatically selected)
Position Opening Time: 07:00 CET (Central European Time, GMT+1)
Maximum Position Lifetime: 75600 seconds (21 hours)
Trend Definition Period: 30 hours (price difference range)
Optimizable Variables:
Fix Lot: If set to 0, the maximum risk variable is used to calculate the lot size. Otherwise, the specified lot value is used.
Minimum Lots (minlots): The smallest tradeable lot size.
Maximum Lots (maxlots): The largest tradeable lot size.
Maximum Risk (maximumrisk): The maximum risk percentage when fixlot is 0. A value of 0.05 or 0.02 is often recommended.
Slippage: The maximum acceptable slippage in points.
Trading Hour (tradinghour): The specific hour for opening positions.
Hours to Check Trend (hourstochecktrend): The number of past hours used to determine the price difference for trend analysis.
Order Max Age (ordermaxage): The maximum duration a position can remain open before being automatically closed.
Martingale Element:
The EA incorporates a martingale system where the lot size of the next trade is increased following a losing trade.
- First Multiplier (firstmultiplicator): Multiplies lot size after one losing trade.
- Second Multiplier (secondmultiplicator): Multiplies lot size after two consecutive losing trades.
- Third Multiplier (thirdmultiplicator): Multiplies lot size after three consecutive losing trades.
- Fourth Multiplier (fourthmultiplicator): Multiplies lot size after four consecutive losing trades.
- Fifth Multiplier (fifthmultiplicator): Multiplies lot size after five consecutive losing trades.
Additional Settings:
- Stop Loss
- Trailing Stop
- Take Profit
Question for Experienced Traders:
What could be the logical reasoning behind such a trading approach? Is this purely a result of over-optimization on historical data with no future viability, or does this strategy possess a sound logical foundation?
You may also like: Equity Guard: Daily Loss, Max Drawdown, and Profit Target Protection for MT5 - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.