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The Market Reversal Alerts EA
Based on the indicator, this EA will auto trade signals generated from the market reversal alerts indicator. It has powerful filters to configure as you like to trade including ADR, MAs and RSI. You can also use it to basket/grid trade, and it has every risk option you can imagine to fine tune it to your personal trading style.
The Market Reversal EA is powered by the indicator of the same name, available here: https://www.mql5.com/en/market/product/46295, and trades based on market structure shifts.
The EA will by default take a trade every time a market reversal alert is sent by the indicator, and will trade those alerts based on the conditions and filters you set in the EA settings.
The EA draws support rectangles as price moves in its current trend direction, and trades when price reverses sharply and signals a market structure shift or a re-test of the reversal. For more information, take a look at the indicator page.
There is a full PDF instruction manual covering all settings available here.
There are numerous filters available to fine tune the EA, including the following:
- Trade signals only at if specific RSI levels on your entry time frame OR a higher time frame of your choice have been exceeded. Signals a strong possibility of a pullback or reversal.
- Trade signals only when above or below a moving average on your entry time frame or a higher time frame of your choice. Perfect for filtering out false alerts and giving a trend bias.
- Trade only between set hours, so you can trade just the most liquid sessions each day.
- Take trades only when price has hit its normal ADR (average daily range) and is most likely to reverse.
- Use the last market reversal signal on a higher timeframe for directional trend bias.
- Exit on opposite signal.
- OR ANY COMBINATION OF THE ABOVE!
You have different money management strategies included in the indicator also, which are listed below:
- Use your account balance or equity to place trades at a percentage risk.
- Use a fixed lot size for each position.
- Use basket/grid trading techniques to enter multiple positions on each signal received.
- Have a fixed target for TP or SL based on your entire basket or individual orders.
- Set stops at the most recent high/low and use a risk:reward ratio for profit.
- Set stops at an ADR (average daily range) level and set TPs in the same way.
- Ability to turn off stops or take profits individually to manually trade with the EA and use it for entries (great for basket traders).
- Set an overall TP and SL figure in pips or money for your individual trades or baskets of trades.
- Use breakeven stops after a certain amount of pips in profit.
- Use trailing stops which will start at a set amount of pips and will trail at a level of your choice.
There are also settings to fine tune the EA using the Market Structure Alerts indicator it is based on, which include:
- Take trades on initial reversal alerts or re-tests of the initial alerts (confirmation trades).
- Use wicks to the left of the support rectangle candle to fine tune entries.
- Aggressive mode – faster support rectangles and more entry signals, great for lower time frame scalping.
- Adjust the number of candles before a re-test signal is received and traded.
The EA can be used fully automated or as an entry tool to ensure you never miss a potential trade idea, and you can then manually manage the trade yourself.
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Get The Indicators & Dashboards I use
The indicators are all available direct from your MT4 or MT5 platform in the market section. Alternatively, you can get them on the MQL5.com website!
The Market Reversal Alert Indicator
The key to the strategy is knowing when price is starting to turn and change direction. This indicator draws in market structure for you, then sends you an alert so you can take a look at your charts and see if there is a valid reason to enter a trade.
The Market Reversal Alert Dashboard
This amazing dashboard monitors the major time frames and all pairs you trade and alerts you instantly when a potential reversal happens. No more staring at charts all day! Every pair and key time frame in front of you in one MT4 window. Priceless.
The ADR Reversal Indicator
The ADR Reversal Indicator shows you at a glance where price is currently trading in relation to its normal average daily range. You will get instant alerts via pop-up, email or push when price exceeds its average range and levels above it of your choosing.
The ADR Alert Dashboard
The ADR reversal dashboard allows you to monitor every pair or instrument you trade in one dashboard. You’ll get alerted every time something exceeds your set ADR levels and ensure you will never miss an opportunity.
The Trade Manager Dashboard
Take control of your forex portfolio. See instantly where you stand, what's working and what's causing you pain! The Trade Manager Dashboard is designed to make risk management and exposure to currencies easier to understand.
The RSI and TDI Alert Dashboard
The RSI / TDI alert dashboard allows you to monitor 6 main timeframes (selectable by you) at once on every major pair you trade. The dashboard will alert you to extended conditions (overbought and oversold) when a candle closes on the chosen time frame.
Symmetrical Triangle Pattern Indicator
Profit from market contraction and consolidation after price makes new highs or lows in the market. Get alerted when a contraction is happening, ready to pounce on the next continuation or reversal move that is building up.
Symmetrical Triangle Pattern Dashboard
Get alerted and see instantly when any instrument you trade forms a symmetrical triangle pattern on any time frame. Get ready to pounce on those triangle breakouts!
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The Market Reversal Alerts EA
Based on the indicator, this EA will auto trade signals generated from the market reversal alerts indicator. It has powerful filters to configure as you like to trade including ADR, MAs and RSI. You can also use it to basket/grid trade, and it has every risk option you can imagine.
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