• MACD momentum signal: We will consider position of MACD main line (histogram) relative to zero value to determine the trend (above 0 for uptrend, below 0 for downtrend. Signal is confirmed by last closed histogram bar that is larger than previously closed histogram bar.
• Signal candle size max/min. Signal is also based on wide bullish/ bearish candle. We define its body size. Larger the candle, more momentum is present in the trend. Signal candle must close in the direction of trend defined by the trend filter. Signal candle must close below the lows of previous two candles for short entry / above the highs of two previous candles for long entry.
• Entry model: Pending sell stop order is placed at signal candle low after signal candle close. Pending buy stop order is placed at signal candle high after signal candle close.
• Stay valid hours: How long will untrigered pending order remain valid (in hours).
• Universal trailing stop (Extra deviation for the trail stop). Based on last closed candle high for short trade and last closed candle low for long trades. Extra deviation can be applied to put TS further away from the entry. TS will be adjusted with each consecutive candle close, only in the direction of winning
• MAX number of trades (1 in test): Cannot be adjusted
• Take profit points:
• Magic number buy/sell: Change this number when using more than one MT4 expert advisor per currency pair.
• Spread filter:
• Lot size:

Rules of the expert advisor:

SELL

1. MACD histogram closing below zero. Downtrend.
2. Bearish Signal candle occurs, while MACD histogram bar closes below previous histogram bar (it is wider).
3. Signal candle closes below the lows of previous two candles.
4. Pending sell stop order is placed at signal candle low.
5. TS is placed upon entry at last closed candle high + extra deviation (in points) applied above.
6. Trade is closed either by hitting Trailing Stop or at Take profit.

BUY

1. MACD histogram closing above zero. Uptrend.
2. Bullish Signal candle occurs, while MACD histogram bar closes above previous histogram bar (it is wider).
3. Signal candle closes above the highs of previous two candles.
4. Pending buy stop order is placed at signal candle high.
5. TS is placed upon entry at last closed candle low - extra deviation (in points) applied below.
6. Trade is closed either by hitting Trailing Stop or at Take profit.

Test Results (Tick EURUSD 1H, 2003.01.01 - 2016.11.24)

Expert advisor is based on transparent and fully tested forex strategy.

Original and transparent MT4 expert advisor. Developed and created by professional FOREX traders at kingsraid.wiki . Tested for profitability on EURUSD tick data since 2003. Thousands of viable input combinations available for EURUSD alone. Works with any timeframe and any FX pair.

Main features of this expert advisor:

• Tested on high quality tick data: High accuracy testing on EURUSD tick data (1H). 100+ Viable inputs combinations for EURUSD pair alone.
• All inputs unlocked: You can adjust and modify your expert inputs. It can be then applied on any time frame and any currency pair. You can modify the settings at will to achieve the best possible results and make the expert suit your needs.
• Transparent expert advisor: No smoke and mirrors. Rules are clearly stated and functionality can be easily verified by manual charting on forward or historical data.
• Works with most of the MT4 Forex brokers: Our expert advisors were adjusted to work with almost any MT4 FOREX broker.
• Works with any time frame: Simply drag and drop the expert on time frames you would like to use.
• Works on any currency pair
• Expert advisor will not draw any indicators in your chart.

Disclaimer and user agreement:

Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.