Used Forex Stuff A Trend-Following Expert Advisor Leveraging Three Key Indicators

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MetaMaster Forex Expert Advisor (EA): Trend-Following Strategy Overview

The MetaMaster Forex Expert Advisor (EA) is designed to capitalize on market trends using a combination of three key indicators to identify trading opportunities:

1. ATR MA Oscillator: This indicator measures the deviation between the current price and a moving average of the Average True Range (ATR). It helps in spotting overbought and oversold market conditions.

2. SuperTrend v2: A trend-following indicator that combines a moving average with the ATR to determine the direction of the market trend.

3. Accelerator Oscillator: This indicator assesses the momentum by measuring the difference between two moving averages of the price, helping to identify overbought and oversold conditions.

Trading Logic:

Long Position Criteria:

• The ATR MA Oscillator shows a positive value.
• The SuperTrend v2 indicates an uptrend.
• The Accelerator Oscillator is positive.

Short Position Criteria:

• The ATR MA Oscillator shows a negative value.
• The SuperTrend v2 indicates a downtrend.
• The Accelerator Oscillator is negative.

Position Closure:

• The position is closed if the price moves against the trade by a predefined amount (take profit level).
• The position is closed if the price hits the stop loss level.
• The position is closed if the EA detects a trend reversal.

Trailing Stop Feature:

• The EA utilizes a trailing stop mechanism, which adjusts the stop loss in the trade's direction as the market moves favorably. This feature helps secure profits and limit potential losses.

Detailed Operation:

1. At the start of each bar, the EA calculates the values of the three indicators.
2. If all three indicators align, indicating a clear market direction, the EA opens a position accordingly.
3. The EA continuously monitors the market, closing the position if one of the following occurs:
   • The price reaches the take profit level.
   • The price hits the stop loss level.
   • A trend reversal is detected.

The MetaMaster EA strategically combines these indicators to execute trades in line with the prevailing market trends, enhancing the potential for profitable trading decisions.