EA to open positions at trend lines..

Hello to all..

I have paid to have an EA made which i have decided to share with all even though i am sure someone will be selling this soon.

This EA will open positions at a trend line drawn on MT4 you can choose to open it x amount of pips before the trend line or x amount of pips after price has gon through it.

here are the options of the EA

1. Buy/Sell

2. Trigger (this is the amount of pips distance from the trend line before it opens the position use - for a sell and + for a buy see example.)

3. TP or Take profit in pips.

4.SL or Stop Loss

5.TS or Trailing Stop

6. BE or move to break even @ x amount of pips.

7. Lots position size.


here is how it works.

add the EA to your MT4 platform as you would any other however all the inputs for it must be set in the description of the trend line using the following code.

Action=Buy Trigger=5 TP=60 SL=30 TS=45 BE=10 Lots= 1.5

You can add as many trend lines as you wish to the same chart with different triggers. The details of each will be listed in the upper right hand corner for you to check over. You must not change the code or it will not work.

attached is a chart of the EURUSD with a trend line on it for a example

here is the setting i used in the trend line description, lets run through them one by one to be sur eyou understand.

Action=Buy Trigger=5 TP=60 SL=30 TS=20 BE=25 Lots= 1.5

Action= this can only be buy or sell depending on your trend line.

Trigger= this is distance in pips from the trend line before the order is triggered, in the example below if i wanted to go short on the break of the trend line by say 15 pips i would have to put -15

TP= this is your take profit, put 0 if you dont want one.

SL= this is your stop loss

TS= this is the trailing stop in pips.

BE= this is the amount of pips your position has to move into profit before your stop is moved to break even.

Lots= this is the position size of your trade.

I surgest that you copy the code to a text doc. so you dont loose it.

I hope that this will be useful to many of you out there it is a great EA once you get the hang of it.

Enjoy.

here is a second example with 2 trend lines on the same chart, it is the GBPJPY and i have a upper trendline on and a lower trend line.

settings are -5 for the trigger on the upper one and 5 for the lower becasue i want the order to be opend if price comes within 5 pips of ether.

if i was going for a breakout it would be the opposite.

enjoy.

tx

No probelm.

Thanks very much, am looking forward to trying this out.

My Plesure, Enjoy.

-D-

DigitalDean:
When I open the expert properties box on your EA, the only fields available are Slippage, Email and Pop-up alerts. So, where are all the settings that you recommend entered?

Hi,

Please read my examples and first post, you do not add the fields into the ea you add it into the Trend Line Description.

Let me know if you still dont understand.

-D-

I don't understand...Can you explain every passages we have to do to add fields into the TLD? tks

I will be back later to show you how this works.

-D-

Thanks, was about to learn how to write this today! This is a huge help to me!

Hi all,

Ok I will try to explain again how you set this up.

first you need to attach the EA like any other.

Second you need to draw a trend line on your chart.

Third you need to go into the Properties of the trend line and in the Description box is where we write the fields for opening and closing of positions.

using the following code.
You can only change the code in red to your required size, if anything else is changed the EA will not work, you can check the status of your pending positions in the right hand corner of the screen.

Action=Buy Trigger=5 TP=60 SL=30 TS=20 BE=25 Lots= 1.5

for example say the trend line was a resistance line and i wanted to sell 1 lot 5 pips before price touched the line with a 20 pip stop loss, 50 pip take profit, move stop to break even at 20 pips and a trailing stop of 15 pips the code would liik like this

Action=Sell Trigger=-5 TP=50 SL=20 TS=15 BE=20 Lots= 1.0

PLEASE NOTE the trigger is -5 because you want to sell BELOW the trend line.

another example with everything the same except now the trend line is support so we want to buy 5 pips before the line.

Action=Buy Trigger=5 TP=50 SL=20 TS=15 BE=20 Lots= 1.0


I hope this makes things a little clearer you everyone.

I have attached a picture of where you need to place the code for each trend line in the description box.

Dont forget you can add as many trend lines as you wish with seperate orders, they will all apear in the right hand corner of you chart.

Let me know how you get on.

Great explain, now is clear

Many thanks and many pips

Your welcome,

I would be interested to find out how you all do using this EA

thanks

-D-

Hi Digitaldean
There is no status of pending positions on my chart?
EA is in place, trendline description - Action=Buy Trigger=5 TP=60 SL=30 TS=30 BE=15 Lots= 1.5.

Hi,

Make sure you have enabled allow live trading in the common tab of the EA properties.

Other than that the only thing i can think it would be is that price has to move a pip in order for it to register you orders and place them in the right hand corner of the screen. If you have been trying to do this on the weekend it will not work as the markets closed.

hope this helps

-D-

Thank you.

I've had the EA running on EUR/USD and GBP/USD for over a week but no trades generated.
The smilie is on the charts and the info is typed in MA description. All the variable headings are on the top of the chart but none of the info I typed. But when I right click the trendline all the info is in a little window that opens as long as I hold the right click down.

I think this as a good concept for an EA but something seems not right or missing.

Does anyone havesuggestions to make it work? Thanks Paul

Tipe it /buy or sell + other info/ in trendline description
GL

Hi. I would like to know if someone is still interested in this kind of ea. I think it is very usefull. It works ok in the strategy tester of MT4 but not in live trading mode. In live trading i have the smile face, but when the price reach the tl, it disapear the description field of the tl but the trade never open. Could someone tell me what is wrong with the ea? I will aprecciate it, and could give us the opportunity to open the thread in order to discuss strategies using trendlines.