This expert adviser tool automates orders or trades based on your indicator signals, compatible with most indicators with ex4 or mq4 file formats. It provides a myriad of advanced features, including TP/SL settings, auto trade closing, advanced signal filtering, and effective money management, among others. Here’s a detailed look into its key features and functionalities.
Buffer-Based Automation in Automate Indicator
The power of the Automate Indicator is rooted in its innovative automation based on indicator buffers. These buffers, found under the colors tab of an indicator, represent various chart drawings such as arrow signals or trend lines. They signal when to buy and sell, which the Indicator Automater can leverage for automated trades.
The Automate Indicator is compatible with three types of indicators for automation:
- Type 1 – Indicators that generate arrows or similar signs like thumbs up/down, dots, etc., signaling buying and selling opportunities.
- Type 2 – Indicators with one or two lines or histograms that change colors based on up or down trends.
- Type 3 – Indicators with two lines where their crossover determines buy or sell decisions.
Objects – Another Layer of Automation
In addition to indicator buffers, some indicators generate objects on the chart for their buy or sell signals. The ConvertIndicator Automater can effectively leverage these objects, which include arrows, triangles, buttons, thumbs, and more. For successful object-based automation, these objects must possess:
- A time parameter under properties
- A common prefix in the name
- Different colors for buy and sell signals
This versatility means users can enable both buffer-based and object-based trading simultaneously, even across different indicators, providing a dynamic approach to automated trading.
Please test in a demo account first for at least a week. Also, please familiarize yourself with and understand how this Customizable Robot works, then only use it in a real account.
Power of Advanced Filtering Options
The Indicator to EA offers an extensive range of signal filtering options to enhance the precision of your trading strategies:
- Choppy/Ranging Market Filter: The tool offers a unique filter that uses its own algorithm to detect volatile market periods. Any signals given by the indicator during these periods will be ignored.
- Second Indicator Filter: This allows the signal generated by your main indicator to be filtered by a second buffer-based indicator, offering more informed and accurate trades.
- Third Indicator Filter: As an optional feature, users can further filter signals by a third indicator using the values of the buffer/color IDs.
- Exponential Moving Average (EMA) Filter: The tool also facilitates signal filtering by an EMA line defined by the user, adding another layer of precision to trading decisions.
The Automate Indicator Automater’s flexibility shines through when an initial indicator appears unprofitable. It offers a wide array of tweaking options, ensuring that you can optimize your strategies for maximum profit. Here are some of the additional features you can experiment with:
- Use Average True Range (ATR)-based SL/TP instead of fixed pips.
- Enable the use of martingale.
- Use pending orders instead of market orders.
- Implement one cancel other (OCO) pending orders.
- Enable more than one trade at a time.
- Disable auto close on opposite signals.
- Limit the EA operation to specific forex market sessions.
- Enable signal filtering by a second indicator.
- Enable the choppy market filter.
- Enable EMA signal Filter.
- Enable signal filtering by a third indicator.
- Use a specialized exit indicator.
Conclusion of Indicator to EA
In conclusion, the Automate Indicator offers a robust and versatile platform for automated forex trading. By intelligently leveraging indicator buffers and objects, providing sophisticated filtering options, and offering an array of features for further optimization, Indicator to EA empowers traders to navigate the turbulent waters of forex trading with precision and confidence.