Charles EA

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    Charlie Jones

    The EA starts looking for prices and break-outs. After that it continues trading by placing orders progressively aiming to reach a global profit. It also scalps pips in when a positive amount is reached and tries to aument the gain when the market is tranding.

    It should work on most pairs and all periods. The profit factor is not “galactic” since it tries to protect the capital as much as possible with a small but constant profit increment and a small draw down.

    Moreover there is a protection when the profit falls below the balance risk-percent. It places hedge orders in order to block the loss and looks for some indicator trying to catch the good direction in order to exit the stall.

    Of course it can be improved a lot and it may require manual intervention and/or some parameters tweaking basing on the market condition. In general however it should be quite stable.

    If you like this EA and you have some expertise in Forex trading, I would be greatefull for hints and ideas on how to improve it. Also if you have time to test it and find bugs, please report them to me.


    • Anchor[250]; PIPS displacements for up/down orders
    • xFactor[0.7]; Lots xFactor multiplier for further orders
    • Amount[1.0]; Initial profit target (indicative, the EA computes it automatically)
    • RiskPercent[10]; Account Balance percent you want to risk (I recommend to not go above 10%)
    • LotPercent[10]; Lots percent
    • Lots[0.01]; Lots amount, considere only when LotPercent is 0
    • Slippage[2]; Orders slippage
    • Macd;”Quick, Slow, Signal”
    • – Qema[10]; Quick MACD EMA period
    • – Sema[32]; Slow MACD EMA period
    • – Signalmacd[4]; MACD Signal period
    • Ema;”fast close, slow open.”
    • – Fastema[8]; Fast EMA period
    • – Slowema[14]; Slow EMA period
    • AllOrders[false]; wheather or not consider ALL the orders for the Symbol, also the manual ones
    • LogToFile; wheather or not log to a file into the MT4 folders
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