MT4 Chart Pattern Trader Expert Advisor

MT4 Chart Pattern Trader Expert Advisor

Easily trade trend lines and chart patterns you draw on the chart.

Patterns which you can trade with Chart Pattern Trader:

Harmonic Patterns

Buy the Support / Sell the Resistance

Breakout Patterns

Triangles (Symmetrical, Ascending, and Descending)
Flags
Double Top and Double Bottom
Head and Shoulders and Inverse Head and Shoulders
Rising and Falling Wedges
Bullish and Bearish Rectangles
Bearish and Bullish Pennants
(Symmetrical, Ascending, and Descending)
Trendline breakouts
Cup with a Handle
Measured move up
Scallop
Diamonds
Channels

How does it work?

The Expert Advisor trades using trendlines. You should draw a trendline on a chart.

The EA supports two types of trading using the trendlines: a breakout strategy, and support/resistance strategy

The first option: A trade signal is generated on the last but one bar (the completed one), if its open price is below/above the trendline and its close price is above/below the trendline.

The second option: A trade signal is generated on the last but one bar (the completed one), if its closed price hits and breaks the trendline. ( Does not wait for the closing of the bar. Which can be used during the important data release.

EA opens 2 positions with TP1 and TP2 – defined by the user.

Advantages:

  • Works with all lines drawn on the chart. (horizontal line, trend line, trend line by angle)
  • Stop Loss Line ( Horizontal Trend Line and Trend Line by Angle )
  • Option to wait for the closing of the candle or open to trade at the breakout without waiting for the bar close.
  • Stop loss is always used to secure your investment
  • Suitable for all pairs, stocks, commodities, and indices.
  • Easy to use (no complicated settings)
  • Universally applicable, it is all up to your imagination.

Parameters:

Trade 1 Volume: The lot size of the first position to close at TP1

Trade 2 Volume: The lot size of the first position to close at TP1

TP 1 : The first target of the pattern in pips.

TP 2: The second target of the pattern in pips.

Support Buy Line: Name the line ( support ) on the chart. – Trade opens when the price hits the line and close above the line.

Resistance Sell Line: Name the line ( resistance ) on the chart. – Trade opens when the price hits the line and closes below the line.

Breakout Buy Line ( Touch ) : Name the line ( breakout buy 1 ) on the chart. – Trade opens when the price hits the line and the candle crosses above the line.

Breakout Buy Line ( Close) : Name the line ( breakout buy 2 ) on the chart. – Trade opens when the price hits the line and the candle closes above the line.

Breakout Sell Line ( Touch ) : Name the line ( breakout sell 1 ) on the chart. – Trade opens when the price hits the line and the candle crosses below the line.

Breakout Sell Line ( Close) : Name the line ( breakout sell 2 ) on the chart. – Trade opens when the price hits the line and the candle closes below the line.

SL Buy: Stop Loss line. ( It can be set as a horizontal line or as a line by angle ) Name the line ( sl buy ) on the chart. – Trade closes when the price hits the line.

SL Sell: Stop Loss line. ( It can be set as a horizontal line or as a line by angle ) Name the line ( sl sell ) on the chart. – Trade closes when the price hits the line.

Note: You can change the name of the lines on the settings and use your own keywords to name the lines.

 

The Price: 50.- $  lifetime license with 10 Activations on different MT4 Platforms. Or become a premium member and use Chart Pattern Trade free with all premium features.

 

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