MACD Pattern expert advisor is a special expert advisor designed to trade on six different MACD patterns. Its a very complex EA and it employs dozens of various input parameters. MACD Pattern computes stop-loss and take-profit levels based on the previous bars and closes the open positions in fractions.
My test of MACD Pattern MetaTrader expert advisor showed good profit. I used EUR/USD H4 chart (EA was created specifically for this combination) with 0.3 standard lots base order size. The profit was about $8,077, maximum drawdown — $6,060 in a year and a half period.
What are the stop-loss and take-profit used by this EA?
It uses variable SL and TP levels, but the average profit is 90 pips and average loss is 311 pips.
How often does it trade?
On 4-hour EUR/USD chart (the optimal settings) this EA will trade about once every two days on average.
This EA is ECN-incompatible. It is not recommended to trade with ECN (market execution) broker using this expert advisor. You will most likely be seeing OrderSend Error 130 messages when EA will be trying to open positions.
Warning! Before you ask any basic questions regarding installation of the expert advisors, please, read this MT4 Expert Advisors Tutorial to get the elementary knowledge on handling them.
Do you have your own trading results or any other remarks regarding this expert advisor? Discuss MACD Pattern with other traders and MQL programmers on the experts forums.