EMAplusWPRv1_1

ACTUAL VERSION : http://codebase.mql4.com/7746

Expert advisor that trade in the trend of EMA and buy/sell signals get from Williams %R

I have tried to create an Expert advisor that could by traded with 1000 EUR starting equity and to minimize the drawdown. Hope you like it. I appreciate every feedback.

Optimized for EURUSD 5 min

I have removed some bugs, changed position sizing, you define the % of your account you want to risk on a single trade. I added simple trailing stop, if trailingStop = 0, then it is disabled.

You use it on your own risk. I am not responsible for your loss, you have to change, test and optimize it for your purpose.

Inputs:

extern double takeProfit      = 200;      // take profit
extern double maxStopLoss     = 50;       // stop loss

extern double maxLots         = 10;       // max lots per position
extern double maxContracts    = 2;        // max open positions, 2 is optimal for smoother equity

extern double EMA             = 144;      // EMA to identify trend
extern int    iWPRPeriod      = 46;       // Williams' Percentage Range to determine buy/sell signals
       int    iWPRretracement = 30;       // retracement of Williams' Percentage to allow next trade
extern double trailingStop    = 50;       // trailing stop, use 0 to disable trailing stop
extern int    risk            = 2;        // % of account you want to risk on a trade
extern double magicNumber     = 13131;

Strategy Tester Report

To use my position sizing increase the maxLots size and define the risk - how many % of your account you want to risk on a single trade.

For position sizing I use the following code:

   minAllowedLot  =  MarketInfo(Symbol(), MODE_MINLOT);    //IBFX= 0.10
   lotStep        =  MarketInfo(Symbol(), MODE_LOTSTEP);   //IBFX= 0.01
   maxAllowedLot  =  MarketInfo(Symbol(), MODE_MAXLOT );   //IBFX=50.00

   balance = AccountBalance();  
   ilo   =  ((balance * risk / 100) / maxStopLoss); 

   lots  =  NormalizeDouble(ilo, 0) * lotStep;

   if (lots < minAllowedLot)  lots = minAllowedLot;
   if (lots > maxLots)        lots = maxLots;
   if (lots > maxAllowedLot)  lots = maxAllowedLot;

Strategy Tester Report