Day Trading EA 1.5

Metatrader (MT4) Expert Advisor

"It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble."
- Robert J. Shiller
The PZ Day Trading EA is a fully-automated expert advisor which trades breakouts of variable lengths, based on our famous indicator bearing the same name.
  • Easy to set up and supervise
  • No previous experience required
  • No optimization or analysis needed
  • It leaves zero room for human errors
  • Start trading with as little as 100$ and 0.01 lots
The EA has a set of great features:
  • Only pending orders are used
  • All orders are protected by stop-loss and take-profit
  • Trading activity is frequent, perfect for rebate generation
  • It implements a spread control which removes all orders
  • Profits are left running using an adaptative trailing-stop
  • Pending orders are not left opened during the weekend
  • Redundant stealth TP and SL order management
  • Position management adapts to commission
  • No averaging, no grid and no martingale
  • Trading is NFA-FIFO Compliant
All you need is a broker with good trading conditions:
  • Spreads below 1 pip (10 points)
  • Stoplevel below two pips -zero is better-
  • Commissions below 6USD per round lot
  • Performs better in EURUSD H1
Enhance your trading activity with the most effective day trading expert advisor, just like our customers have already done.

Screenshots

Video

How does it work?

The expert advisor trades breakouts of variable lengths, based on our famous indicator Day Trading. It uses a donchian channel and average true range (ATR) to take trading decisions.

It places pending orders at yet untouched support and resistance levels around the current price, using a donchian channel as a reference. When these prices are touched, the pending orders become market orders and the position management starts.

As soon a trade is 3-4 pips in profit, the EA moves the stop-loss to the open price plus/minus one pip in profit. From this point on, a wide trailing-stop expressed as percentage of the current trade profit is used to keep the trade alive as long as it is moving in our favor. The edge lies in the fact that volatility expands when the price tests an untouched price level, which usually allows the EA to perform a fast break-even and keep the trade alive at no risk.

The EA pyramids positions decreasing the lotsize each and every time.

You don't need to buy Day Trading Indicator for the EA to work!

Settings and Input Parameters

When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks. This is what each parameter does.

Trading Settings
The following parameters affect the trading activity.
  • Stop-loss: Select the stoploss in pips for the orders.
  • Trailing-stop: Choose a trailing stop expressed as percetange of profits.
  • Take-profit: Select the takeprofit in pips for the orders.
  • Max Spread: Select the maximum acceptable spread to trade.
  • NFA/FIFO: Enable this option for US-Brokers.

Money Management
Select the risk allocation per trade, or a fixed lotsize to trade.
Drawing Options
Select colors and sizes of chart labels and lines.
EA Settings
Customize your order comment or magic number.

Kindly note that default parameters are optimal for EURUSD H1.

Frequently Asked Questions
Which is the best symbol and timeframe to trade?
Which are the best settings for the EA?
I don't want to leave pending orders overnight!
Do I need to buy the Day-Trading Indicator?
Does slippage affect the EA negatively?
How does the spread control work?