The Zone EA 4.0
Metatrader Expert Advisor (MT4)
This expert advisors trades donchian breakouts according to Bill Williams's definition of "Trading in the Zone", which is implemented for free in this indicator. It uses alligator to find strong trends, AC and AO to identify trading zones and MACD to avoid trading exhausted trends.
- Easy to use and supervise
- Fully configurable indicator settings
- Customizable break-even, stop-loss, take-profit and trailing-stop settings
- Works for ECN/Non-ECN brokers and 2-3-4-5 digit symbols
- Trades can be closed on opposite signals
- Implements a martingale feature
- Implements multi-timeframe filters
- Filter trading by forex sessions
The ingredients of the strategy are...
- Breakouts are used as entries
- Alligator to find strong trends
- AC and AO to identify trading zones
- MACD to avoid trading exhausted trends
Four different trading behaviors are available in the EA inputs:
- Regular: The EA will buy at bullish signals and sell at bearish signals
- Inverse: The EA will sell at bullish signals and buy at bearish signals
- Only Buy: The EA will buy at bullish signals and disregard bearish signals
- Only Sell: The EA will sell at bearish signals and disregard bullish signals
Additionally, it implements four different money management modes:
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will risk % of the account on each trade
- Martingale: The EA will double the lotsize after a losing trade
- Inverse Martingale: The EA will double the lotsize after a winning trade
When loading the expert 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.
- Trading Settings
- Select the trading behavior: regular, inverse, only long or only short.
- Indicator Settings
- This parameter group holds the indicators settings.
- Position Management
- This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, break-even behavior, trailing-stop in pips, trailing-step in pips, stop-loss in pip and take-profit in pips.
- Session Settings
- Enable or disable trading for the Asian, European or American sessions, as well as trading week days.
- Money Management
- In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended. You can also enable NFA/FIFO compliant trading
- EA Settings
- You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
- Is the EA NFA/FIFO Compliant?
- Yes, it is.
- Do I need a VPS to run the EA?
- Yes, you do. Or having your home computer turned on 24/5.
- Can I interfere with the trades of the EA?
- Yes, you won't cause the EA to missbehave.
- Will this EA interfere with other EAs running in my account?
- No, it won't.