If you're looking to enhance your trading strategy, the Micro Trend Breakouts EA for MetaTrader 4 might just be the ticket. This nifty little tool utilizes naked trading principles by drawing four trend lines using fractals (two main and two smaller) right on your chart, allowing you to capitalize on trend breakouts. Plus, it comes with a trailing stop loss and take profit features, making it versatile across various time frames and applicable to major forex pairs and NASDAQ stocks.
The core concept behind this price action EA is pretty straightforward:
- Naked Trading: Enter trades after corrections in the main trend.
- I’ve combined a simple EA with two moving averages and trend lines.
- Keep in mind that the trend lines don’t function during test mode.
- Optimization tests can only be performed using moving averages.
- In live trading, the trend lines and moving averages will work together seamlessly.
- During tests, the EA only displays the trend lines on the screen in visual mode without using them for trades.
- These trend lines serve as a filter to improve your winning percentage.
- Be sure to test it out on a demo account first!
- This EA operates solely on the price of the open candle!
- If you prefer not to increase your lot size when losing a trade, set IncreaseFactor=0.
Inputs:
- Use_TP_In_Money: Use Take Profit in money (values: true/false).
- TP_In_Money: Take Profit in money (values: 10-100).
- Use_TP_In_Percent: Use Take Profit in percent (values: true/false).
- TP_In_Percent: Take Profit in percent (values: 10-100).
- ------------[Money Trailing Stop For Multiple Trades]----------------------
- Enable_Trailing: Enable trailing with money (values: true/false).
- Take Profit in money (in current currency) (values: 25-100).
- Stop Loss in money (in current currency) (values: 1-20).
- -----------------------------------------------------------------------------------
- Exit: Close trades if the trend is against you and manage drawdown (values: true/false).
- tick: If "tick"=false-every tick; if "tick"=true -open prices (values: true/false).
- Lots: Lot size (values: 0.01-1).
- Lots size Exponent: (values: 1.01-2).
- IncreaseFactor: How much to increase lots from total margin if you lose a trade (values: 0.001-0.1).
- Stop_Loss: Stop Loss (values: 30-500). Set value to 600 for multiple trades.
- MagicNumber: Magic number (values: 1-100000).
- TakeProfit: Take Profit (values: 50-200). Set value to 600 for multiple trades.
- FastMA: Fast Moving Average (values: 1-20).
- SlowMA: Slow Moving Average (values: 50-200).
- Mom_Sell: Momentum Sell trigger (values: 0.1-0.9).
- Mom_Buy: Momentum Buy trigger (values: 0.1-0.9).
- ---------------------CONTROL DRAW DOWN-----------------------------
- UseEquityStop: (values: true).
- TotalEquityRisk: (values: 0.01-20).
- -----------------------------------------------------------------------------
- Max_Trades: (1-12).
- IF YOU USE ONLY 1 TRADE:
- //////////////////////////////////////////////////
- USETRAILINGSTOP: If using trailing stop (values: true/false).
- WHENTOTRAIL: When to trail (values: 40-100).
- TRAILAMOUNT: Trail amount (values: 40-100).
- Distance From Candle: Distance from candle (values: 1-100).
- USECANDELTRAIL: If using candle trailing stop (values: true/false).
- X: Number of candles (values: 1-100).
- Enable "Break Even": (values: true/false).
- When move "Break Even": (values: 5-30).
- How much pips move "Break Even": (values: 5-30).
- It’s a good practice to optimize this EA every few months using the exact same inputs mentioned above.
- You can use it as a hedging grid EA or a single trade EA.
- Interested in backtesting? Check out this guide: How to Perform Backtest
- You can use it as a hedging grid EA or a single trade EA.
- Interested in backtesting? Check out this guide: How to Perform Backtest
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