Here are my observations on this EA. Please correct me if I am wrong, and I am sure that I will be, at least partly, because I am not an expert in MQ4.

1. This EA works off Bid and Ask Prices. Thus, it sends out orders each time the conditions are met and the number of trades open is less than maxtrades allowable.

2. Suppose we are using daily data. The EA has to check every tick against the daily hi, low and open prices. Change the code to make the hi, low and open be assigned to the daily bar and then we should be able to run it using lower time frame. Anyway, it is going to use the daily data and the bid/ask, so it should not matter.

3. Now if you do 2 above, then you see the results deteriorate, at least did in my case. That I think is because the way MT runs its tests. The bid/ask becomes more accurate in the lower time frames, I think, and the stops are hit faster than profit targets are.

4. In MQ4, the stop and the take profits are sent with the open trade order. Thus, I think the connection speed etc. should not matter. If the stop order is there, then it should be honored. If not, then one should talk to their broker.

Very interesting EA still. Need to be investigated fully

Thanks Holyguy for posting it.

Maji