EA: PZ Day Trading
I sometimes like to go over the jobs on the MQL5 website and get some good ideas for an expert advisor. I saw an interesting EA strategy which uses PZ Day Trading Indicator.
You can read the job details here:
PZ Day Trading
Based on this, my EA has following settings/rules:
Expert Advisor Description:
- PZ Day trading (MinRange, MaxRange, HighLowFilter) can be configured in EA
- EMA 1 Close (Period configured in EA)
- EMA 2 Close (Period configured in EA)
Make sure EMA1 period is greater than EMA2.
- PZ Day trading indicator signal
- Lot size should be calculated using riskRatio var (1:riskRatio) risk:reward
- Main lot size can be set in Abiroid_Forex_Common library
- Support magic number
- Can be set in Abiroid_Forex_Common library
- You can also set the active hours for EA in Abiroid_Forex_Common library.
- Make sure to set doTimeCheck to true. (Keep it false if you want EA to run at all times)
- And then set StartTradingTimeGMT and EndTradingTimeGMT
- Mandatory: SL equals the activation price +/- high/low of the PZ Day trading box + Extra N pips (slBuffer) + Spread
- Mandatory: Signal is valid if calculated SL <= SL threshold (configured maxStopLoss settings)
- Optional RuleA = Price must be above(for BUY)/below(for SELL) EMA1
- Optional RuleB = Distance between EMA (EMA1 close) and EMA (EMA2 close) between minEMADiff and maxEMADiff
- Optional RuleC = If EMA2 above EMA1 then do only BUY and EMA2 below then do only SELL
Trade execution (if rules met):-
- open position with take profit 1:(tpSteps), managed as follows (e.g. if tpSteps is 3):
- once TP1 hit close 1/3 of trade and move SL to BE
- once TP2 hit move SL to TP1 price and close 1/2 of what left
- leave the rest to TP3 or to return to TP1 level
- If false: Don’t count new signals if the current order still opened
- If true: Then close current order and open a new one based on new signal and if all active rules are met
EA and Indicators Installation:
Just copy all directories in your MQL4 folder.
Downloads:Abiroid.com_PZ_Day_Trading_EA (2720 downloads)
I haven’t had a chance to test this out much. Only tested it on EURUSD for different timeframes (minimum M15) with some really good results and a very low drawdown.
I would love it if you guys keep sending me any test results in the comments below. You might need to tweak the settings for different pairs. So please write to me about your settings and results. I’ll keep updating my post with all your grand results 🙂
Love and peace to all.