The EA introduced this time uses the famed ADX trend indicator. Not only does the ADX help in trend trading, it also strives to determine the entry and exit timing for each trade.
In particular, this EA uses a simple crossover system, so its accuracy can be high in certain market conditions. Read on to find out more about this valued MT4 Expert Advisor which you can get for free at the end of this article.
First, let’s discuss the principles based on which this EA enters trades.
This EA will enter when ADI's -DI and + DI cross over.
- -DI goes below + DI = Buy order
- -DI goes above + DI = Sell order
If ADX's-DI and + DI cross over again, trades will be closed.
- --DI is less than + DI = Exit sell order
- --DI is more than + DI = Exit buy order
With this EA, you can specify a trailing stop, profit target, and a stop loss. It’s always a good idea to try various things in order to find the best setting for a specific use.
As you can see in the final image, this EA is very suitable for scalping. Another advantage is that you can use any time frame to trade with it.
Also, some people may say that "the ADX is messy and hard to understand", but with this EA, there is no problem of this kind because the EA will trade on its own. So, scroll down below and definitely try this EA out in various diverse conditions.
- Slip - Slippage
- ADXPeriod - Periods for ADX
Note: back test results are optimized. Also, due to order execution quality, backtesting results may differ from the results when using a real trading account. Please understand this point and keep it in mind when using this EA.
Download the "ADXCrossOver EA" for free from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.