Hey traders! If you’re on the hunt for a powerful trading tool, let me introduce you to Charles 2.1.5, an advanced EA (Expert Advisor) for MetaTrader 4. This version is packed with features that take your trading to the next level, all while maintaining the core strategies of previous versions.
Let’s dive into what makes this EA stand out:
- Volatility Checks: It identifies special volatility conditions to open orders right below price spikes.
- Trend Following: The EA assesses the current trend to capitalize on profitable movements.
- Pivot Points, Supports, and Resistances: These are recalculated every hour to help minimize losses by catching price retraces effectively.
- Order Basket Feature: This innovative concept helps to offset losing orders quickly, reducing drawdown.
- Highly Configurable: With a plethora of adjustable parameters, you can fine-tune the strategy to suit your trading style.
Key Parameters to Note:
Important: If you encounter a "zero divide" error, double-check the symbols in the "Symbols" parameter. Issues can arise if:
- Your broker doesn't support certain symbols.
- Your broker uses different names for the symbols (for example, EURUSD might be listed as EURUSDm or EUR_USD).
To use the EA on a single chart and symbol, simply attach it to the relevant chart, set the MagicNumber, and leave the Symbols field empty.
Here are some of the key parameters you should be aware of:
- TimeFrame: Not crucial, as the EA checks the necessary timeframes internally.
- Symbols: List of symbols for the EA to manage. If left empty, it operates only on the current chart/symbol.
- MagicNumber: Unique identifier for every order handled by the EA.
- xFactor: Multiplier for hedge orders.
- TimeSet: Sets the broker’s time for resetting pending orders daily.
- RiskPercent: The percentage of balance to recover losing orders.
- MaxAllowedOrders: Maximum number of additional orders that can be opened under specific conditions.
Additionally, you can set various other parameters like stop loss, trailing values, and profit checks, all designed to enhance your trading strategy.
Trading Hours: The EA allows you to set specific trading hours and manage conditions for closing all orders, especially on Fridays.
In a nutshell, Charles 2.1.5 is a robust EA that can help you navigate the markets more effectively. With its advanced features and customizable options, it’s definitely worth a try!
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