Expert Advisor programming functions

Here are just a sample of the features that can be built into your Automated Expert Advisor Trading System:

Different kind of system

• Scalping Systems: Forex scalping can be very profitable but must be used with accuracy.
• Trend Follower: systems that trade following the main trend.
• Counter Trend: systems that trade against the main trend, during retracements.

Money Management

Lot size of a trade can be determined as a percentage of account equity or a constant amount.

• Lot Size Compounding: Increase your position based on the trend and amount of profit in the trade. This is a very powerful strategy.
• Maximum Order Limit: Controls how many orders are running at any given moment.
• Account Margin Check: Suspends trading if your margin exceeds a specified range.

Stop Loss and Take Profit

• Fixed stop loss and take profit: settings used to protect the equity in the account.
• Trailing Stops: Using a trailing stop loss allows you to set a minimum profit. It follows the movement of a trade by a set number of pips.
• Volatility Stops: Used in conjuntion with a volatility indicator such as the ATR (Average True Range).
• Account Equity Stops: Controls how much of your account equity you want to risk and protect.
• Swing Highs and Swing Lows: Stops and Take Profits that are based on recent highs or lows.

Other controls

• Large Currency Spread: Suspend trading if the current spread exceeds a maximum spread setting.
• Execute on New Bar: The expert advisor will run once on the opening of a new bar.
• Multiple chart Expert Advisors: Allows an expert advisor to run on more than one chart at the same time.
• Trading Daily Timers: Set a time period for trading. Useful when you only want to trade the US, Asian, or UK sessions.
• Trading Period Filters: Set a time period so that you are not trading during news reports or particular days of the week.
• Trade History: Logs the trading history of an EA to a file so that it can be used to evaluate performance.
• Statistical Data Modeling: This is a unique feature that can be applied for the forecasting of a particular Currency.