A unique Expert Advisor Forex EA PatternTrader – get 7.5% monthly! – the only pattern scalper for Metatrader 4 !
PatternTrader – with this multi-currency Expert Advisor (EA) you can search, analyse and trade bar patterns. Trade patterns can be searched and selected automatically in Auto mode, when EA searches for a repeating pattern and measures its frequency and stability of next bar direction, forms list of alternative patterns and then selects best pattern with maximum stability and frequency, which matches most current forming pattern. Or you can use manual pattern programming: best patterns are separated by comma, less better follow after, separated with semicolon from first ones, etc. You can define Buy and Sell patterns independently for all pairs, or use common Buy and Sell patterns shared among all pairs. Also there are some sofisticated pattern filters – “same next”, and a “vertical filter” – where in addition to “horizontal” pattern search, spread in time, and instant “vertical” pattern is analyzed – spread among different currency pairs. This allows to enter a trade only when bars forming repeating vertical pattern appear on all observed pairs. Pattern names are easy to remember: for example, uud= means that two bars were up and then one was down and the last one was equal to previous. These symbols are user defined and can be changed. The EA has a version check and update feature – in case of new version of software it will notify user and give a link for download.
This EA constantly looks for repeating bar patterns in a specified number of bars, then selects most frequent ones, then selects most stable ones with a stable next bar state, then applies some more filters (vertical, bar size etc), and finally compares selected pattern with a current pattern formation. As current bar pattern constantly changes, it selects from most frequent patterns only those which resemble current formation most. For this there are pattern weight setting – which gives the last or the first bars in a pattern more weght to be selected. And when it matches current pattern, it opens a trade in direction of next predicted bar and waits for profit in % after which it closes trade. Trades can be closed individually on each symbol, or by overall account profit. As patterns can change, best practise is to use small profits, i.e. use it as a scalper. There’s also a SL / TP setting for most security.
You can watch its tester trading on Youtube:
In this video you can see tester trade, trading only EURUSD, as tester does not support multiple pairs. It made around 7.5 % monthly with only 5% drawdown using manually defined list of patterns. Other pairs were added for showing dynamics on multiple pairs.
This EA is still developed and tested for Metatrader4 platform,
1) Open desired symbols in MarketWatch in Metatrader4 terminal of your broker.
2) Attach EA to any H1 chart or open in a tester. Others charts will do too, but change BarSize setting to correspond typical barsizes of selected chart.
Allow live trading and use of libraries as it is vital for license check and update.
3) Enable trading button for a live chart.
Even if EA shows these results only in tester (though I haven’t yet tried it in real trading), it is still worth a look. If this EA proves to be profitable in real trading, I will definitely stop selling it here, so take your chance 😉
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