Trend Enveloper EA

[Rio]

Here's another EA that I made, per a user request. It is not that profitable, and so don't use it live. It is simply a proof of concept, and perhaps a jumping point for anyone looking to see how the EA works (or how it could be improved)

I welcome all suggestions, as I'm still learning MQL4. As with any EA first released, there could be bugs. It's free after all!

 

http://www.4shared.com/file/154367892/daedaa4e/TrendEnveloper_EA.html

 

It trades when the signal of the trend envelope changes from buy to sell (and vice versa). A little optimization shows me that a TakeProfit of 140 and a stop loss of 30 is about right. The UseLineStopLoss feature will set and update the stop loss of the trade as given by the trendline. If this feature is not used, then a manual stoploss that is set in the inputs will be used.

Also there is a breakeven and trailing stop feature. If the Breakeven is zero, then a breakeven will not be used.

Once the signal changes, any open trades are closed automatically.

 

There is a time filter option as well. If set, it will not trade between a time period you specify.

[fx4a]

Re: Trend Enveloper EA

 

Hi Rio..It seems best on 4HR TF.

The main problem is it tries to take trades on small correction against the trend.

Would you consider adding this indicator to EA.

SlopeDirectionLine

 

http://stashbox.org/703963/Slope%20Direction%20Line.zip

[Rio]

Re: Trend Enveloper EA

 

OK, I'll add that one when I get some time