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REGISTER PARTICIPANTS Expert Georgestrendexpert Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Sep 7, 2020.

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  1. James Goldman

    James Goldman Moderator
    Staff Member Organizer

    Jun 15, 2020
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    George’s Trend is an
    Expert Advisor that follows trend following logic. It was designed
    with the old trader’s axiom "The Trend is Your Friend". The name "George’s
    Trend" arose from the fact that a MetaTrader Expert Advisor is essentially a
    trading robot and I decided to personalize the robot I was designing by giving
    him the name George.

    George does not wish
    to be in the markets at all times. His mission is to locate when a trend is
    occurring in the market’s direction and follow it for as long as possible for
    maximum profit. The market is not always trending. Sometimes markets swing, or
    whipsaw, or reverse. Some trading literature estimates that Forex market is
    only trending around 15% percent of the time. George has been designed to stay
    out of the markets when there is no trend in place, and then get in the correct
    direction when there is.

    He uses the
    following logic to accomplish this: first, he only enters new trades during determined
    market hours such as London Open to New York Close so that spikes that occur
    during off peak hours do not cause a false reading. Next, he uses the ATR indicator to determine
    whether there is any volatility in the market. When ATR is very low, the
    markets are likely moving sideways and it is not a good time to get in. If
    markets are open and ATR has moved above a minimum threshold, the DMI indicator
    is then used to determine whether or not a trend is actually in place. If DMI
    shows trending behavior in the market, George will analyze multiple trend
    following indicators to determine, in which direction the trend is occurring, and
    enter a trade in that direction accordingly.

    Stop losses are placed with each
    new order, and the stop loss is moved to breakeven once a certain level of
    profitability is achieved. In this way, the possibility of loss with each new
    trade is kept protectively small, and when a new trade is placed in a winning
    position it can run as long as possible until the indicators say that the trend
    is no longer running. The anticipated trading behavior of George then is
    relatively few trades, small losses when losses occur, and wins when a
    trend really gets going.

    George can trade
    any currency pair in any timeframe, although the trend following nature of the
    trading strategy will probably work better on larger time charts of 15 - 60 min
    or so.

    George is optimized,
    by default, to the EURUSD on M15, and that is the currency pair
    he was designed around. Most important trading parameters are external and as
    such can be modified and optimized according to your trading preference. It is
    highly recommended that you re-optimize if using a currency or time frame other
    than EURUSD M15.

    NOTE: This Expert Advisor was
    designed in USA on a Non-Hedging (per USA rules) MetaTrader 4 account.



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