NextBar.mq4 Forex Robot - Expert Advisor (EA) for Reliable Trading

Unlock the potential of your trading with NextBar.mq4, a powerful Forex robot designed to optimize your trading strategies. This expert advisor (EA) brings efficiency and precision to your trades, ensuring a seamless trading experience. Tested on reputable brokers such as LQDFX and FXOpen, NextBar.mq4 adapts to various broker environments for versatile performance. Elevate your trading with this advanced Forex EA, meticulously crafted for consistent results. Download now and experience the difference in your trading journey.

Here is a backtest:
image backtest

The nextbar EA opens trades when the price movement aligns with the chosen trading direction and closes trades when certain profit, loss, or holding period conditions are met. It can be set up with the chosen parameters, and you should monitor its performance and adjust the settings as needed to fit your trading preferences and risk tolerance.

Purpose:

The main goal of this EA is to automatically place and manage buy and sell orders in the Forex market based on certain conditions and predefined parameters. It aims to capture potential price movements in the next bar (candlestick) to make a profit.

Setting It Up:

Download and install MetaTrader 4.
Copy the EA code into the "Experts" folder in your MetaTrader 4 directory.
Open MetaTrader 4 and attach the EA to the chart of the currency pair you want to trade.
Set the input parameters according to your preferences.

These parameters include:

bars2check: The number of previous bars to check for price movement conditions.
bars2hold: The number of bars to hold an open trade before closing it.
minbar: The minimum price movement required to trigger a trade.
profit: The profit target in pips.
loss: The stop-loss target in pips.

direction: You can set it to 1 for long (buy) trades or 2 for short (sell) trades.

This EA operates as follows:

Check4Open() Function:

-This function is responsible for evaluating conditions for opening new buy or sell orders.
-It compares the price difference between the previous bar's close price and the bar before that, looking for significant movements (greater than or equal to minbar pips).
-It considers the direction variable, which is initially set to 1 (indicating a buy direction), to determine whether to open a buy or sell order.
-If the conditions are met, it sends an order (either a buy or sell) to the market with predefined parameters such as lot size and order type.

Check4Close() Function:

-This function manages open orders and decides when to close them.
-It iterates through all open orders and checks if they match the magic number (MAGICMA) and symbol.
-If an order is a buy and it has reached the defined profit or loss level, the EA closes the order by sending an opposite market order (e.g., a sell order to close a buy order).
-If an order is a sell and it has reached the defined profit or loss level, the EA closes the order in a similar way.
-If an order has been open for bars2hold bars, it will be closed, regardless of profit or loss.

start() Function:

-This function is the main entry point for the EA and is called at the start of each new bar.
-It checks if the number of bars has changed, indicating a new bar.
-If there are no open orders, it calls the Check4Open() function to evaluate and potentially open a new trade.
-If there are open orders, it calls the Check4Close() function to manage and potentially close these orders.

Strategy:

The strategy employed by this EA is based on capturing short-term price movements. It checks for significant price changes between the current bar and the bar bars2check bars ago. Depending on the direction setting, it can either open a buy order if the price has gone up significantly or a sell order if the price has gone down significantly. The EA aims to close orders when they reach a predefined profit or loss level and also after a certain number of bars have passed.

Please note that the success of this EA depends on the market conditions, the accuracy of the parameters you set, and the chosen currency pair. It's important to test and optimize the parameters to adapt the EA to your trading preferences and risk tolerance.

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