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Gartley Pattern EA - Powerful Forex Trading Robot
Discover the potential of the Gartley Pattern EA, an advanced Expert Advisor designed for efficient Forex trading. This EA utilizes proven strategies to analyze market trends, making it a reliable tool for traders. Tested on LQDFX and FXOpen, this versatile Forex Robot is compatible with various brokers. Elevate your trading experience with this robust EA today!
gartley_pattern_ea.mq4 14.1 kb, 46 downloads since 2015-04-30
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About the Gartley Pattern EA
https://mt4talk.com/viewtopic.php?pid=17312#p17312
The EA spots potential buying (BULL) and selling (BEAR) opportunities based on market conditions.
When it identifies a BULL opportunity, it sets a BUYSTOP order at a specified price, while for BEAR, it sets a SELLSTOP order.
The EA also employs a trailing stop feature to lock in profits as the market moves in your favor.
You can choose to close all open orders at the end of the trading day.
Adjustable Parameters:
StopLoss: This is the maximum loss you're willing to tolerate for each trade. If the trade goes against you and reaches this level, the EA will automatically close the trade to limit your losses.
Trailing_Stop: The trailing stop is a dynamic stop-loss mechanism. If the trade moves in your favor, it'll follow the price, maintaining a certain distance. If the price reverses by the specified number of pips (Trailing_Stop), it locks in profits.
StartTrail: This parameter determines when the trailing stop should start working. It's the distance in pips from the trade's open price before the trailing stop activates.
Target_Profit: The desired profit level for each trade. Once a trade reaches this level, the EA will close it to secure your profits.
LotSize: This is the size of the position you want to open. It represents the volume of the trade. Smaller lots mean lower risk, but potentially lower rewards, while larger lots can lead to higher profits but also higher risk.
useStopLoss: A boolean setting (true/false) that enables or disables the use of the StopLoss parameter. If set to "true," the EA will use the StopLoss to limit potential losses.
Slippage: Slippage is the maximum allowed difference between the expected price of a trade and the actual executed price. It helps prevent trades from being executed at significantly worse prices during volatile market conditions.
Time_when_day_ends: This parameter specifies the time when the EA should consider the trading day over. It's based on your broker's server time.
On_the_end_of_day: A customizable message to determine what the EA should do at the end of the trading day, like closing open orders or deleting pending orders.
CloseOpenOrders: If set to "true," this tells the EA to close all open orders at the end of the trading day.
ClosePendingOrders: If set to "true," this instructs the EA to delete any pending orders (orders that haven't been executed) at the end of the trading day.
clOpenBuy: The color code for marking open buy orders on the chart. CLR_NONE means no specific color.
clSellBuy: The color code for marking open sell orders on the chart. CLR_NONE means no specific color.
BuyComment: The comment or label attached to buy orders for easy identification on the platform.
SellComment: The comment or label attached to sell orders for easy identification on the platform.
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