MetaMaster: A Trend-Following Forex EA Using Three Indicators

Trading Systems Expert Advisors and Automated Trading
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The MetaMaster Forex Expert Advisor (EA) is a trend-following strategy that uses three indicators to find trading opportunities:

  • ATR MA Oscillator: This indicator measures the difference between the current price and a moving average of the ATR (Average True Range). It can be used to identify overbought and oversold conditions.
  • SuperTrend v2: This indicator is a trend-following indicator that uses a moving average and an ATR to identify the direction of the trend.
  • Accelerator Oscillator: This indicator measures the difference between two moving averages of the price. It can be used to identify overbought and oversold conditions, as well as momentum.

The EA opens a long position when the following conditions are met:

  • The ATR MA Oscillator is positive.
  • The SuperTrend v2 indicator is in an uptrend.
  • The Accelerator Oscillator is positive.

The EA opens a short position when the following conditions are met:

  • The ATR MA Oscillator is negative.
  • The SuperTrend v2 indicator is in a downtrend.
  • The Accelerator Oscillator is negative.

The EA closes a position when the following conditions are met:

  • The price moves in the opposite direction of the trade by a certain amount (the take profit level).
  • The price moves in the opposite direction of the trade by a certain amount (the stop loss level).
  • The EA detects a trend reversal.

The EA uses a trailing stop to move the stop loss level in the direction of the trade as the market moves in the trader’s favor. This helps to protect the trader’s profits.

Here is a more detailed explanation of how the EA works:

  1. The EA calculates the values of the three indicators at the beginning of each bar.
  2. The EA then checks to see if all three indicators agree that the market is going to move in a certain direction.
  3. If all three indicators agree, the EA opens a position in that direction.
  4. The EA then monitors the market and closes the position when one of the following conditions is met:
  • The price moves in the opposite direction of the trade by a certain amount (the take profit level).
  • The price moves in the opposite direction of the trade by a certain amount (the stop loss level).
  • The EA detects a trend reversal.
  1. The EA then moves to the next bar and repeats steps 1-4.

The MetaMaster Forex EA is a complex strategy that uses a variety of factors to make trading decisions. It is important to understand how the EA works before using it in a live trading account.
MetaMasterEA.zip (322.7 KB)