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About MadTrader EA
https://mt4talk.com/viewtopic.php?pid=316#p316
MadTrader EA employs a combination of technical indicators and smart risk management to execute trades. Here's a breakdown of its core strategy:
Time Window Trading: MadTrader EA operates within a specific time window that you can define. It's essential to set this according to your preferences.
Candlestick Analysis: The EA pays attention to the size of candlesticks. It only enters trades when candle sizes meet your predefined criteria (MinCandle and MaxCandle in pips).
RSI (Relative Strength Index): MadTrader EA utilizes RSI as an indicator. It looks for overbought and oversold conditions based on your specified RSIUpperLevel and RSILowerLevel values.
ATR (Average True Range): ATR is used to measure market volatility. The EA filters trades based on the ATR value (MaxAtr parameter).
Trend Analysis: The EA calculates a trend signal using the RSI indicator over a specified number of bars (TrendBars parameter).
Exponential Growth Control: MadTrader EA aims to achieve exponential growth in your account balance over time. It monitors your account growth and adjusts trading accordingly, ensuring you stay on track.
Risk Management: The EA calculates lot sizes based on your account balance and risk preferences. It also manages trailing stops and controls risk effectively.
Adjustable Parameters:
MAGIC: Set a unique identifier for your trades (usually 0 if you're not using magic numbers).
Lot Precision: Choose between 1 or 2, depending on your lot size preferences.
Fixed Margin: Typically set to 0, unless your broker requires a fixed margin.
Start/End Hour: Define your preferred trading time window.
Refresh Hours: Specify how often profit calculations are reset.
Trade Time: Set the waiting time between trades.
Margin Usage: Determine the portion of your account balance used for lot size calculation.
Min/Max Stop: Control trailing stop levels.
Trailing Stop: Enables trailing stop functionality.
Basket Profit: Set the balance ratio at which baskets of trades are closed in profit.
Basket Boost: Multiply the Basket Profit to catch up when not doing well.
Exponential Growth: Define the desired account growth rate.
Min/Max Candle: Filter trade entries based on candlestick size.
Max ATR: Filter trade entries based on Average True Range.
Trend Bars: Adjust the period for trend signal calculation.
ATR/RSI Period: Specify averaging periods for ATR and RSI indicators.
ATR/RSI Shift Check: Enable or disable shift-check for ATR and RSI.
RSI Upper/Lower Level: Set RSI thresholds for overbought and oversold conditions.
Effective Strategies: MadTrader EA is most effective when used with the following strategy parameters:
Currency Pair: GBPJPY
Minimum Balance: Customize based on your risk tolerance and trading objectives.
Time Frame: 5 minutes (5M)
The EA's settings are optimized for trading the GBPJPY pair on a 5-minute chart. It's designed to take advantage of intraday trading opportunities with a focus on risk management and gradual account growth.
Remember that while MadTrader EA provides a strong framework, it's important to monitor its performance and adjust parameters as needed to align with your trading goals and market conditions.
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