The EA (automatic trading software for MT4) introduced in this article uses a moving average line to generate trades. Particularly distinctive is its entry logic of this expert advisor which also allows you to set the order quantity.
This EA only verifies the entry signals when a new candlestick occurs. The robot places a new order when the following two conditions are met.
- 1. Sell order: The previous candlestick opening price is lower than the moving average line
- 2. Buy order: The previous candlestick closing price is higher than the moving average line
The exit logic is also simple. An open order will be closed if the following two conditions are met (the opposite of the entry signal).
- 1. The previous candle closing price is above the moving average line
- 2. The previous candle closing price is below the moving average line
It’s important to keep in mind that it is possible for a large loss to be incurred during rapid market fluctuations as the price can quickly move far away from the moving average line under such conditions.
This EA is very simple, but it is an EA that can easily cope with diverse markets. You can also easily set the order quantity. However, keep in mind that stop-loss orders are not always entered.
- Lots - Number of lots
- MovingPeriod - Pereiods for moving average calculation
- MovingShift - Shift of moving average
Backtest results are optimized. Also, backtesting results may differ from the trading results when using a real trading account. Please keep this in mind when using this EA.
Download the " MA_Open Close " Expert Advisor 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.