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REGISTER PARTICIPANTS Expert Tp Moneyflowindex Adx Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Oct 1, 2020.

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  1. James Goldman

    James Goldman Moderator
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    #tpmoneyflowindexadx

    tp-money-flow-logo-200x200-5002.png

    This EA is based on Money FLow Index (MFI) and ADX to identify the trends. The setup occurs upon reaching a MFI's certain level and the intersection of DI+ and DI-.

    The orders are executed if two conditions are met:

    • MFI crosses its critical level (INDLevel) and ADX has already confirmed the trend.
    • ADX changes the trend and MFI has already crossed its critical level.
    This EA opens only a few orders, but the positions have good quality. It works on multiple currencies and multiple time frames.

    Parameters
    MFI Parameters


    [*]INDPeriod: the number of bars used for the indicator (Money Flow Index) calculations.
    [*]INDLevel: level of the MFI for uptrend; level of downtend is 100-Uptrend. For example: INDLevel=55 means that there is uptrend if MoneyFlowIndex is >55 and downtrend if MF is <45

    ADX Parameters

    • ADX_TF: time frame of ADX.
    • ADXPeriod: the number of bars used for ADX calculations.
    • ADXLevel: level of the ADX to identify the strenght of the trend (>25 strong trend).
    Position management

    • TakeProfitPoints: take profit in points. If =0, Take Profit in points is disabled and only "Profit in currency" works.
    • Profit in Currency: profit in currency account to close position (take profit in EUR, USD, etc.).
    • StopLossPoints: stop loss in points. If =0, Stop Loss in points is disabled and only "Loss in currency" works.
    • Loss in Currency: loss in currency account to close position (stop loss in EUR, USD, etc.).
    • ProtectionStartPoints: profit in points to move the stop loss to breakeven. If =0, the Breakeven in points is disabled and only "Protection start in currency" works.
    • Protection start in Currency: profit in currency account to move the stop loss to breakeven.
    • Protection: points above (if Long) or below (if Short) the price of open order to move the breakeven.
    • TrailingStopStart: profit in points to start the trailing stop. If =0, Trailing Stop is disabled.
    • TrailingStopPoints: trailing stop in points.
    • TrailingStepPoints: step in points to move the trailing stop.
    • Turbo: if FALSE, the EA expects a new indicator crossing before opening a new trade.
    • CloseReversalSignal: if TRUE, the EA close open trade when a new opposite signal start and it open a new trade; if ELSE, the EA don't open new trades until the opened trade will be closed due to take profit or stop loss.
    Lots management

    • UseMM: if TRUE, it activates automatic money management.
    • PercentMM: risk value.
    • Lots: if "UseMM" is FALSE, it is the lot size.
    Order management

    • OrderComment: order's comment.
    • MagNum: magic number.
    • SlippagePoints: slippage in points.
    I recommend you to do backtest to find the best settings (I propose settings for EURUSD H4 and M15). I also suggest to use a combination with more currency and more time frames to get a better result.

    Settings for EURUSD H4:
    Settings for EURUSD M15:


    dProfit=2600
    dProfit=1800

    dProtection=400
    dProtection=200

    dLoss=1400
    dLoss=1000

    INDPeriod=11
    INDPeriod=11

    INDLevel=60
    INDLevel=55

    ADXPeriod=5
    ADXPeriod=5

    ADXLevel=25
    ADXLevel=15

    ADX_TF=0
    ADX_TF=0

    TakeProfit=399
    TakeProfit=399

    StopLoss=249
    StopLoss=249

    UseProtection=True
    UseProtection=True

    Protection=15
    Protection=15

    tp-moneyflowindex-adx-screen-3615.jpg tp-moneyflowindex-adx-screen-3470.jpg

     

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