A Comprehensive Trend-Following Strategy based Expert Advisor

Trading Systems Expert Advisors and Automated Trading
1

This expert advisor is a sophisticated trading strategy that relies on three key indicators to identify potential trading opportunities:

  1. ATR MA Oscillator:
  • Measures the deviation between the current price and a moving average of the Average True Range (ATR).
  • Identifies overbought and oversold market conditions.
  1. SuperTrend v2:
  • A trend-following indicator utilizing a moving average and ATR to determine the prevailing trend direction.
  1. Accelerator Oscillator:
  • Measures the variance between two moving averages of the price.
  • Identifies overbought and oversold conditions while assessing market momentum.

Trading Conditions:

Long Position:

  • Positive ATR MA Oscillator.
  • SuperTrend v2 indicates an uptrend.
  • Positive reading on the Accelerator Oscillator.

Short Position:

  • Negative ATR MA Oscillator.
  • SuperTrend v2 signals a downtrend.
  • Negative reading on the Accelerator Oscillator.

Position Management:

  • Opening Positions:
    • Requires unanimous agreement from all three indicators on market direction.
  • Closing Positions:
    • Triggered by an opposing signal from all three indicators.
    • Closing conditions include reaching predetermined levels (take profit or stop loss) or detecting a trend reversal.
  • Trailing Stop:
    • Implements a trailing stop to safeguard profits during favorable market movements.

Trading Process:

  1. Indicator Calculation:
  • Compute indicator values at the start of each bar.
  1. Signal Confirmation:
  • Confirm consensus among all three indicators for market direction.
  1. Position Opening:
  • Open a position if conditions align.
  1. Monitoring and Management:
  • Constantly monitor market conditions.
  • Close positions based on specified criteria (opposite signal, take profit, stop loss, or trend reversal).
  1. Trailing Stop:
  • Use a trailing stop to protect profits as the market moves favorably.
  1. Iterative Process:
  • Move to the next bar and repeat the trading process.

Important Considerations:

  • Complexity:
    • The strategy is intricate, relying on multiple indicators for decision-making.
  • Risk Management:
    • Incorporates risk management through stop loss, take profit, and trailing stop mechanisms.
  • Continuous Monitoring:
    • Demands ongoing vigilance of market conditions.
  • Trend Reversal Detection:
    • Positions are closed when a trend reversal is detected.
  • Live Trading Caution:
    • Prudent understanding of the strategy is crucial before applying it to a live trading account.

MetaMasterEA.zip (322.3 KB)