I am not going to say a lot about this cause the real work is for a guy called Waddah, an amazing programmer
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I have removed the translation as a better version of the translation is done by Ibn Fernas on post 5 down
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This is a trend break EA, which means it will place a trade after the trend line (which you need to draw or use an indicator to draw the trend line for you ) is broken.
the setting is very easy, draw a trend line, and from the property of the trend line give it a name... then put the EA and put the name of the trend line you draw on the BuyStop_TrendName or SellStop_TrendName put the setting for TF and SL
you can draw two trends at the same time or use an idicator to draw the trend for you.
the EA will not place the TP and SL when its first executed it will wait for a while to avoid rapid changes in the market, then it will place the SL and TP ...
On post
63 I have added some trend line inidcators ( some will not work with this EA as they change the name of the trend line )
branix made an interesting addtion of the e-trailing on post
27 ,which is also an expert and you need to place it on a new chart, to trail the trades made by TrendMeLeaveMe EA
and also we have a fixed version of the SHI indicator on post
35 by
Perky
Thank you guys
This is where i orginally found the code.
http://codebase.mql4.com/1024
below you will find two files one is the open source code for the EA the other one is the new version but the source is not open anymore !!! I don't know why.
Regards,
Alan
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March 31st 2007
I have added the Gold version of the EA and made a small picture so you can understand
- Sell Stop : Break from Up to down of the trend
- Buy Stop: Break from down to up of the trend
- Buy Limit : Bounce from up side of the trend
- Sell Limit : Bounce from down side of the trend
and that is for UP, DOWN or SIDE trends
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You have 4 cases :
1- when the trend is broken from down ( as if you thorugh a ball and it goes through the ceiling and kept moving up ) buystop you buy above the break
2-when the trend is broken from above ( as if you though a ball and it went through the floor and kept on going down) sellstop you sell below the break
3-when the price bounce from the trend from above ( as if you though a ball to the ground and it bounce up and kept moving up ) buylimit and you buy at the bounce point
4-when the price bounce from the trend from down ( as if you though the aball to the ceiling but it came back and fall down again ) selllimit and you buy at the bounce point ...
I hope that will clear everything