BreakOut + MM + Multi-currencies

For the installation you need to put the two mqh files into the "include" folder.

Charles2_0_3.mq4

Share

Facebook Twitter Print Pinterest Gmail Email App

MQL4\Include\

Share

Facebook Twitter Print Pinterest Gmail Email App

hanover_---_function_header.mqh

Share

Facebook Twitter Print Pinterest Gmail Email App

Interesting trading system with dry low DD. It is tested on a real account?

Share

Facebook Twitter Print Pinterest Gmail Email App

Dive into Forex with Charles EA!

Charles EA works with multiple currency pairs, adjusting positions based on market conditions. By leveraging risk management and strategic trade placement, Charles EA aims to maximize gains while minimizing risks. It's ideal for traders looking for a hands-off, yet effective approach to Forex trading.

How this EA works:

Charles EA trades multiple currency pairs, automatically adjusting its strategy.
It calculates lot sizes based on account balance and risk parameters.
The EA places orders at strategic points, considering market highs, lows, and average prices.
Features include dynamic stop-loss, trailing stops, and profit targets to optimize trade outcomes.
The EA manages all open orders and can handle manual ones too.

Setting up Charles EA:

Download the .mq4 file of Charles EA.
Open your MT4 platform and go to "File" > "Open Data Folder."
Inside the folder, go to "MQL4" > "Experts" and paste the file.
Restart MT4 and find Charles EA under the "Navigator" panel.
Drag and drop it onto your desired chart.

Adjustable Parameters:

Symbols: Specifies the currency pairs to be traded.
xFactor: A multiplier used in calculating lot sizes for hedging.
TimeSet: Defines a specific time for certain actions or calculations within the EA.
RiskPercent: Indicates the percentage of the account balance to be risked on each trade.
RiskPerTrade: Sets the risk percentage for individual trades.
Lots: Determines the fixed lot size for each trade when RiskPerTrade is set to zero.
StopLoss: Configures the stop-loss value for trades.
MinPipsProfit: Sets the minimum pip value for profit-taking.
TrailingUnlockStop: Defines the pip value at which the trailing stop is activated.
Slippage: Sets the maximum allowed slippage in pips.
AllOrders: Determines whether the EA manages all orders, including manual ones.
AllSymbols: Decides if the EA should consider all trading pairs for calculations and management.
LogToFile: Enables or disables logging of EA activities to a file.
InitResetOrders: Determines whether to delete all pending orders upon initialization of the EA.

Winning Strategy Settings for Charles EA:

Minimum Balance: $1000
Time Frame: H1
Currency: EURUSD
Symbols: "EURUSD"
xFactor: 1.5
TimeSet: "07:32"
RiskPercent: 5
RiskPerTrade: 2
Lots: 0.01
StopLoss: 0
MinPipsProfit: 30
TrailingUnlockStop: 35
Slippage: 3
AllOrders: false
AllSymbols: true
LogToFile: false
InitResetOrders: true

Use lower RiskPerTrade (1-2%) to manage risk effectively.
Set StopLoss and TrailingUnlockStop to adapt to current market volatility.
Choose MinPipsProfit that aligns with your trading goals and market conditions.

Charles EA offers a smart, adjustable approach to Forex trading, ideal for those seeking to balance risk and reward efficiently. It's user-friendly, adaptable to various market conditions, and suitable for traders who prefer a set-and-forget trading style.

Share

Facebook Twitter Print Pinterest Gmail Email App

The Charles.mq4 Expert Advisor version 2.0.3.

The The Charles EA version 2.0.3 is a sophisticated trading algorithm. This version introduces several advanced features and improvements over its predecessors. Here is a breakdown of its key components and functionalities:

Multi-Currency Trading: The EA is capable of trading multiple currency pairs, a significant enhancement over single-pair trading. This allows for diversification and potentially better risk management.
Dynamic Risk Management: It dynamically adjusts risk per trade based on the number of currency pairs in play. This feature is crucial for balancing risk across different trades and market conditions.
Aggressive Mode: This setting allows the EA to use stricter criteria for support and resistance levels, potentially increasing the accuracy of trade entries and exits in volatile markets.
Trending Mode: This mode seems to be designed for trend following strategies. It could leave profitable orders open in trending market conditions, possibly capturing longer-term market movements.
Advanced Technical Indicators: The EA utilizes a range of technical indicators like RSI (Relative Strength Index), EMA (Exponential Moving Averages), and ATR (Average True Range) for more nuanced trade decisions.
Customizable Trade Settings: Various parameters like StopLoss, TrailStart, TrailingAmount, and TakeProfit can be adjusted, providing users with control over trade exit strategies.
ECN Compatibility: The EA has a setting for ECN/STP brokers, which is crucial for compatibility with different broker types and ensuring accurate order execution.
Enhanced Order Management: It manages all types of orders, including manual ones, and computes profits across all currency pairs if needed.
Logging Functionality: For users who prefer to track the EA's activities, there’s an option to log to a file or console.
Initialization Settings: The InitResetOrders function indicates that the EA can reset or delete all pending orders upon initialization, which is useful for starting fresh in each trading session.
Trailing Stop Functionality: The EA has sophisticated trailing stop logic, which adjusts stop-loss orders based on market conditions and profit levels, aiming to protect gains while allowing profitable positions to run.
Efficient Resource Management: The EA includes several functions for efficiently managing resources like memory and CPU usage, ensuring smoother operation on the MT4 platform.

Adjustable Parameters in Charles EA (Version 2.0.3):

Symbols: Specifies the currency pairs to be traded, allowing for multiple pairs.
MagicNumber: A unique identifier for the EA's trades, differentiating them from others.
xFactor: A multiplier used in the calculation of lot sizes, particularly for hedging strategies.
TimeSet: Defines a specific time for the EA to execute certain actions or calculations.
RiskPercent: Indicates the percentage of account balance risked per trade.
RiskPerTrade: Sets the risk percentage for each trade.
Aggressive: A boolean parameter to activate more strict support and resistance levels.
TrendingMode: Determines whether the EA should operate in a trend-following mode.
FastPeriod: Defines the period for the fast moving average in technical analysis.
SlowPeriod: Sets the period for the slow moving average.
Selectivity: Adjusts the sensitivity of certain technical indicators like RSI.
Lots: Determines the fixed lot size for trades when RiskPerTrade is set to zero.
Slippage: Sets the maximum acceptable slippage in pips.
ECN: A boolean value to specify if the broker is ECN/STP, affecting how stops are added.
StopLoss: Configures the stop-loss value in pips for trades.
TrailStart: The point (in pips) where the trailing stop starts.
TrailingAmount: The amount (in pips) used for adjusting the trailing stop.
TakeProfit: Sets the take-profit level in pips.
AllOrders: Determines if the EA manages all orders (including manual ones).
AllSymbols: Decides if the EA should compute profits across all trading pairs.
LogToFile: Enables logging of the EA's activities to a file.
InitResetOrders: Specifies whether to delete all pending orders upon initialization.

Winning Strategy Settings for EA:

Minimum Money: $1000
Currency: EURUSD
Timeframe: H1
Symbols: "EURUSD"
MagicNumber: 3939
xFactor: 1.5
TimeSet: "07:32"
RiskPercent: 5
RiskPerTrade: 2
Aggressive: false
TrendingMode: true
FastPeriod: 18
SlowPeriod: 60
Selectivity: 14
Lots: 0.01
Slippage: 3
ECN: false
StopLoss: 800
TrailStart: 6
TrailingAmount: 3
TakeProfit: 20
AllOrders: true
AllSymbols: false
LogToFile: false
InitResetOrders: true

Charles.mq4 version 2.0.3 appears to be a highly customizable and advanced trading tool, suitable for traders who prefer a hands-on approach to configuring their trading strategies while utilizing automated trading functionalities. The inclusion of multiple currency trading and advanced risk management features makes it suitable for a range of trading styles and market conditions.

Share

Facebook Twitter Print Pinterest Gmail Email App