An MT4 expert advisor which acts as a manual, automatic or hybrid trading tool.
The base idea behind this EA is making short-lived, small-profit trades and when entering in the wrong direction use averaging down or up.
Recommended environment
Market: FOREX
Symbols: EURUSD, AUDUSD, USDCAD or EURCAD
Chart timeframe: 30M
Leverage: 1:100
Minimum deposit units: 1000
My broker: Teletrade
Must run 24/7 so a VPS or a dedicated PC should be used to run your MetaTrader4 terminal.
One chart per terminal.
Strategies used:
For auto-trading it uses a lower-timeframe momentum following strategy via the Sven signal.
For managing the trades the strategy is averaging up(for SELL) and down(for BUY).
The Sven signal
It's a simple momentum following algorithm which looks for consecutive rising/falling close prices on the given timeframe.
Settings
Trade Settings
MagicNumber - The unique number used to internally identify trades launched by the EA on the current chart.
TradeComment - The comment to leave on the trade
TradingStyle - Conservative or aggressive. This affects the size of the order. Conservative = 0.01 and aggressive = 0.02 lots per 1000 available in balance.
TargetProfitPips - The target profit in pips for trades.
AutoSafetyTradesEnabled - A safety trade is a trade performed when averaging the price closer to the current price. Having this setting enabled allows the EA to automatically launch safety trades.
PipDeviationToOpenSafetyTrades - The distance in pips in the losing direction of the initial trade at which to launch safety trades.
MaxNumberOfTrades - The maximum number of trades the system can do when averaging.
AlertOnTradeClosed - If true then display an alert whenever a trade is complete.
BuyEnabled - If false then disable BUY trades(both on manual and automatic trades).
SellEnabled - If false then disable SELL trades(both on manual and automatic trades).
MinBalanceToStartTrade - The minimum balance required before launching a trade.
MinEquityToStartTrade - The minimum equity required before launching a trade
MaxSpreadToStartTrade - The maximum value of the spread at which a trade can be launched.
Sven Signal Settings
SvenSignalEnabled - This enables launching trades automatically when getting a signal from Sven.
SvenSignalNumBars - The number of previous bars to check.
SvenSignalTimeframe - The timeframe to look into.
SvenSignalReversed - If true then the signals are reversed(eg. if Sven says BUY then launch a SELL).
My settings
The default settings.
