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Charles uses a smart approach to trading. It places buy and sell stop orders just outside the current price range, giving your trades room to breathe. When the market moves in your favor, Charles locks in profits. It also has emergency measures to protect your account from big losses.
Download the .mq4 file.
Open MetaTrader 4.
Go to 'File' > 'Open Data Folder' > 'MQL4' > 'Experts.'
Copy and paste the .mq4 file into the 'Experts' folder.
Restart MetaTrader 4.
Go to the 'Navigator' panel and find Charles under 'Expert Advisors.'
Drag and drop Charles onto your trading chart.
Adjustable Parameters:
Anchor: 250
xFactor: 0.7
TimeSet: "07:32"
Amount: 1.0
RiskPercent: 10
LotPercent: 10
Lots: 0.01
Slippage: 2
Macd: "Quick, Slow, Signal"
Qema: 10
Sema: 32
Signalmacd: 4
Ema: "fast close, slow open."
Fastema: 8
Slowema: 14
AllOrders: false
LogToFile: false
Charles uses a smart approach to trading. It places buy and sell stop orders just outside the current price range, giving your trades room to breathe. When the market moves in your favor, Charles locks in profits. It also has emergency measures to protect your account from big losses.
https://mt4talk.com/viewtopic.php?pid=719#p719
Download the .mq4 file.
Open MetaTrader 4.
Go to 'File' > 'Open Data Folder' > 'MQL4' > 'Experts.'
Copy and paste the .mq4 file into the 'Experts' folder.
Restart MetaTrader 4.
Go to the 'Navigator' panel and find Charles under 'Expert Advisors.'
Drag and drop Charles onto your trading chart.
Adjustable Parameters:
Anchor: 250
xFactor: 0.7
TimeSet: "07:32"
Amount: 1.0
RiskPercent: 10
LotPercent: 10
Lots: 0.01
Slippage: 2
Macd: "Quick, Slow, Signal"
Qema: 10
Sema: 32
Signalmacd: 4
Ema: "fast close, slow open."
Fastema: 8
Slowema: 14
AllOrders: false
LogToFile: false
Currency Pair: EUR/USD
Minimal Balance: $1,000
Time Frame: H4
The strategy employed by the Charles EA is designed to capitalize on market fluctuations, especially in currency pairs, by placing buy and sell stop orders strategically. This EA can be recommended for traders who prefer a breakout trading strategy, specifically the "breakout and trend-following" approach.
Here's how the strategy works:
Charles constantly watches the market for potential trading opportunities.
When certain conditions are met, Charles sets up pending buy and sell stop orders. These orders are placed just outside the current price range, allowing for a breakout in either direction.
As the market moves, Charles dynamically adjusts its pending orders to adapt to changing conditions. It's particularly effective during periods of high volatility or when significant price movements are anticipated.
When a trade becomes profitable, Charles aims to lock in those profits to minimize potential losses. This is done by adjusting stop-loss and take-profit levels.
The EA incorporates an emergency protection system to prevent significant losses. If the account balance falls below a certain risk threshold, it takes actions like closing trades or deleting pending orders.
Charles is recommended for traders who have a moderate to high risk tolerance. It's ideal for traders who are comfortable with breakout strategies and understand the potential for increased volatility.
The EA allows traders to adjust various parameters such as risk percentage, lot size, and time settings to align with their preferred trading style and risk management.
Charles EA is valuable tool for those who have a good understanding of market dynamics and risk management.
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