Trading Pinbars off weekly S&R levels
The pinbar trader EA implements the strategy and has lots of extra features:
I encourage other smart developers to make changes and incorporate other candle types into this EA, the source code is free at GITHUB, EBECKERS is no longer working on this EA as he has other obligations.
The pinbar trader EA implements the strategy and has lots of extra features:
- it scans multiple currencies. So load the EA on 1 chart and it will scan all major currencies by default (you can change which ones in the settings)
- it can send you alerts when a pinbar is detected on a weekly S&R level
- it can do auto trading, although please run this on demo first before you decide to go live with this
- You can choose between a trailing stops or risk:reward exit strategy
- You can choose if it should use a fixed lot sizes, a fixed amount of $, or a risk % of your account balance
- It has a news filter implemented to skip trading during news events
- Installation:
- Download the zip file and unzip it somewhere
- copy the pinbartrader.tpl to your MT4 templates folder
- copy the SupportResistance.ex4 to your MT4 indicators folder
- copy the PinbarTrader.ex4 to your MT4 experts folder
- Now start MT4, enable auto trading and DLL imports
- put the EA on any chart on theDaily (D1) timeframe !
- By default auto-trading and alerts are turned off. So enable them if you want to use them.
I encourage other smart developers to make changes and incorporate other candle types into this EA, the source code is free at GITHUB, EBECKERS is no longer working on this EA as he has other obligations.
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