The expert advisor ATR Trailer is an automated trading strategy that does not use any particular entry rule and is based primarily on a mechanism of trailing stop orders to take advantage of large market movements. These trailing stops are based on the technical indicator ATR (Average True Range). In this case, the direction of the initial position (position 1) is controlled by the input parameter, while each following position has the opposite direction from the previous position.
When the trailing stop is reached, the position is automatically closed and a new one is opened. With the default configuration of the ATR (period = 24 and multiplier = 3) and a time frame of one hour (optimal time frame), the trailing stop is supposed to cover 99% of the daily fluctuation in the price, considering a normal distribution of the price, which in reality does not always happen in the market.
- This EA provides the best results in the EUR/USD with a time frame of one hour.
- The ATR Trailer does not use fixed stop loss and take profit levels. Instead it uses trailing stops to limit losses and to take profits.
The input and optimization parameters of this EA are the following:
- ATR_Period (Default = 24): This parameter is the period of the ATR indicator, which is used for the trailing stop.
- ATR_Multiplier (Default = 3): It is a value by which is multiplied the ATR indicator.
- StartWith (Default = 1): You can set the direction of the first position as follows:
- Short Positions: 1
- Long Positions: 2
Below are the parameters and results for this EA:
- Stop Loss: No.
- Take Profit: No.
- Currency Pairs: All.
- Time Frames: All.
- Best results: EUR / USD with a time frame of 5 minutes.
- Percentage Gain: 40% of operations.
- Maximum Drawdown: 6%.
Note: This EA is compatible with ECN brokers.
You can download this Expert Advisor for Metatrader 4 using the following link: