Trend Corrections Expert MT5

The Trend Corrections Expert MT5 is a sophisticated tool designed for the dynamic Forex trading market. It functions as an Expert Advisor (EA) that identifies and capitalizes on trend corrections. This insightful tool doesn’t simply buy at the high or sell at the low of a trend. Instead, it uses advanced strategies to trade on corrections, thereby avoiding the pitfalls of extreme market volatility.

How Trend Corrections Expert MT5 Works

The EA identifies the direction of a currency pair’s trend over a specified number of bars. Once the trend is established, it waits for a correction. If the trend is strong and the correction matches the predefined parameters, the EA will then initiate a trade in the direction of the trend. This, however, is contingent on additional indicator readings concurring with the trade opening.

To minimize losses, the EA sets a stop-loss for each transaction and includes trailing stop and Parabolic Sar indicator trailing features. It is designed for virtually any currency pair and timeframe, with optimized settings available for each.

Understanding the EA’s Key Settings

The EA is equipped with a host of settings that can be fine-tuned to suit individual trading preferences. These settings help confirm the opening of a trade and allow for different correction values.

The “Lots” parameter controls the lot size. If it is set to 0, the lot size is calculated based on a percentage of free account funds. The “Percent” setting adjusts the portion of free funds used to open each new deal. The “OrdersFilling” changes the method of order execution, while the “Slippage” setting controls the maximum allowable price deviation. The “MaxSpread” sets the maximum spread for opening a deal.

The EA is also equipped with the “Magic” function, a unique identifier necessary when running multiple EAs in one terminal. The “OpenOrdersDelayBars” controls the delay between opening the next deal. “StopLoss” and “TakeProfit” settings govern the order closing price when the loss or profit level is reached.

Advanced Market Analysis Features

The EA includes advanced Forex market analysis features. It uses the Commodity Channel Index (CCI) and the Relative Strength Index (RSI) indicators. The CCI and RSI periods can be adjusted, and their levels can be set to specific values. The EA also uses the ADX indicator, with adjustable minimum and maximum levels.

Moreover, the EA allows for custom trading hours via the “TradingStartHour” and “TradingEndHour” settings. It also features an “EnableInfo” setting, which activates the display of useful trading information.

Independent Testing and Updates

For those interested in seeing the EA in action, independent testing results are available on the forexroboteasy.com website. Subscriptions for updates on the testing results of this product are also available on the site.

FAQ

Can I use the Trend Corrections Expert MT5 with any currency pair?

Yes, the EA is designed to work with virtually any currency pair and timeframe.

Is it possible to trade only when a trend is found?

Yes, if you prefer, you can disable the trading on corrections feature.

What if my broker doesn’t support all methods of order execution?

The EA includes an “OrdersFilling” setting, which allows you to change the method of order execution.

Can I control the percentage of free funds used to open each new deal?

Yes, the “Percent” setting adjusts the portion of free funds used to open each new deal.

Experiences with the Trend Corrections Expert MT5 are always welcomed. Share your experiences and join the conversation about this innovative tool.

Remember, this is an independent product review, providing a balanced and professional insight into the Trend Corrections Expert MT5. Such reviews are invaluable in the ever-changing world of Forex trading.