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TFOT 3.0-EDU: Boosting Performance with Open Price
Some experts advisors working on open price to optimize. Enjoy it
TFOT_3.0-EDU.ex4 29.09 kb, 51 downloads since 2016-10-13
TFOT_3.0-EDU.mq4 25.62 kb, 59 downloads since 2016-10-13
TFOT_3.0-EDU.mq4 25.62 kb, 59 downloads since 2016-10-13
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Discover the TFOT 3.0-EDU MT4 Expert Advisor!
https://mt4talk.com/viewtopic.php?pid=27888#p27888
This EA employs a unique trading strategy designed to capture potential profit opportunities in the Forex market. It focuses on two trading modes: "First Face" and "Second Face." In the "First Face" mode, it looks for buy opportunities when specific conditions align, and in the "Second Face" mode, it seeks sell opportunities under different criteria. The EA considers various technical indicators, including Moving Averages (MA), Williams' Percent Range (WPR), and Average True Range (ATR), among others, to make trading decisions.
How this EA Works:
First, let's set things up. You'll need to configure various parameters like lot sizes, percentages, and timeframes.
The EA monitors market conditions and waits for the perfect moment to enter a trade. It watches indicators like moving averages, Williams' %R, and more to make informed decisions.
When the conditions align with the strategy, the EA will either open a Buy (long) or Sell (short) trade.
The EA keeps an eye on your active trades, modifying stop-loss and take-profit levels as needed to maximize your profits.
Each trade is tagged with a "magic number" to help the EA identify and manage its own trades.
The EA pays attention to specific hours of the day to ensure trades are opened at optimal times.
Setting Up the EA:
Download the MQ4 file.
Load it onto your MetaTrader 4 platform.
Adjust the following parameters according to your preferences:
For First Face Trading Mode:
LotFF: Lot size for First Face trades.
PercentLotFF: Percentage of free margin used for First Face lot size calculation.
Gi_252: Williams' Percent Range (WPR) threshold for buy signals.
Gi_256: Additional WPR condition for buy signals.
Gi_260: Hour of the day for First Face trading.
Gi_264: Additional hour condition for First Face trading.
Gi_320: ATR multiplier for setting stop loss in First Face mode.
Gi_324: ATR multiplier for setting take profit in First Face mode.
For Second Face Trading Mode:
LotSF: Lot size for Second Face trades.
PercentLotSF: Percentage of free margin used for Second Face lot size calculation.
Gi_308: Williams' Percent Range (WPR) threshold for sell signals.
Gi_312: Additional WPR condition for sell signals.
Gi_316: Hour of the day for Second Face trading.
Gi_320: Additional hour condition for Second Face trading.
Gi_368: ATR multiplier for setting stop loss in Second Face mode.
Gi_372: ATR multiplier for setting take profit in Second Face mode.
General Parameters:
GMTTest: Offset in hours to adjust the EA's trading hours according to your broker's GMT offset.
MarketExecution: Enable this to execute trades at market price.
SimpleLotsPercentCalculation: If enabled, lot size calculation will be based on a simple percentage of free margin; otherwise, it considers previous trade history.
Gi_384: Maximum number of consecutive trades for First Face mode.
Gi_388: Maximum number of consecutive trades for Second Face mode.
Gi_392: ATR multiplier for stop loss in consecutive trades.
Gi_396: ATR multiplier for take profit in consecutive trades.
Gi_400: Hour of the day to start trading.
Gi_404: Hour of the day to stop trading.
Your success with this EA hinges on several factors, such as market conditions, your choice of currency pairs, and the timeframe you select. To get the most out of it, it's important to backtest and experiment with different parameter combinations to fine-tune its performance. The EA's strategy takes advantage of specific technical indicators and market patterns.
Please tell the time frame and Pair to trade, Also please post any optimum settings file if you have
Suggested currency pairs can vary based on market conditions and personal preferences, but you can consider major pairs like EUR/USD, GBP/USD, or USD/JPY as starting points.
The EA's strategy may work well on multiple timeframes, but you can start by testing it on the 1-hour (H1) or 4-hour (H4) timeframes. These are often used by traders for swing trading strategies.
Adjustable Parameters:
Lot Size (LotFF and LotSF): Start with a conservative lot size relative to your account balance. For example, 0.01 lot size per trade is a common starting point.
PercentLotFF and PercentLotSF: Consider setting these parameters to a low percentage of your free margin, such as 1% or 2%, to manage risk effectively.
Williams' Percent Range (WPR) Thresholds (Gi_252 and Gi_308): Test different WPR threshold values to find the most suitable ones for your chosen currency pair and timeframe. You can start with values like -20 for buy signals and -80 for sell signals.
Hour of the Day (Gi_260, Gi_264, Gi_316, Gi_320): Trading hours can significantly impact performance. Experiment with different trading hour settings based on your preferred time to trade and the currency pair's active hours.
ATR Multipliers for Stop Loss and Take Profit (Gi_320, Gi_324, Gi_368, Gi_372): You can start with conservative ATR multipliers, like 1.0 for stop loss and 1.5 for take profit, and then adjust them based on the volatility of your selected currency pair.
Maximum Consecutive Trades (Gi_384 and Gi_388): Limiting consecutive trades can help manage risk. Start with a conservative number, like 3 or 5, and adjust it based on your risk tolerance.
ATR Multipliers for Stop Loss and Take Profit in Consecutive Trades (Gi_392 and Gi_396): Similar to initial trades, you can use ATR multipliers for stop loss and take profit in consecutive trades to manage risk. Start with values similar to the initial trades.
Remember that the "winning" settings can vary from one market condition to another.
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