ZigAndZag_V2 Expert Advisor For MT4
WE IMPROVED THIS EXPERT ADVISOR FOR YOU!!!
PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!
ZigAndZag_V2 Expert Advisor For MT4 is a very interesting Expert. It has a lot of features within it. This allows the user to customize it’s experience with the EA.
The Zig dan Zag Danu Expert Advisor surely has a weird name, but don’t let that hold you back from this Expert Advisor’s awesomeness.
The expert uses a custom indicator to take trades. It sets buy/sell stops over/under the market. It doesn’t open many trades but the win% is very high.
This expert is categorized with a lot of options/settings. It allows the user to create an unique experience. The number of settings is pretty big. But that is better for the user as always. We will explain each of the settings below.
Zig dan Zag Danu Ultimate Investment Long Term Expert Advisor For MT4 - SETTINGS
EAName - This is basically self-explanatory. This allows you to change the Expert Advisor’s name. The default name is not the most practical. So this makes life easier for you.
IsMicroAccount - This setting is used to define the type of your account. If your account is standard, this setting should be false. This affects the risk & volume of your trades.
CompletedBars - This setting defines when the order’s should be executed. If this setting is true, the EA will wait to open an order until the current candle is closed. Otherwise, it will open it on the next tick.
TradeOrAlert - This is one of the best settings. It allows you to choose if you want to trade yourself, meaning the Expert Advisor will only send you alerts. Or if you want to leave it to the big boy, you can turn this setting to true. So True allows trading, false sends alerts.
SendMailMode - Pretty self-explanatory. If this setting is true, it will send mail with order execution information.
PlaySounds - If True, Plays a sound when orders/alarms are executed
MySound - This setting is valid only if the upper is true. This defines the sound to be played when orders are executed.
FiveDigits - Used to define the number of digits the broker uses. If false, the broker uses 4 digits.
UseTradingTime - One of the most useful settings. If on, the Expert trades only during a specific time.
TradingTimeStart - Only valid if the upper is true. It defines the start time of trading. The EA will not trade before this time. Default setting 9 = 9 am.
TradingTimeEnd - Only valid if UseTradingTime is true. Defines the end time of trading. The EA will not trade after this time. Default setting 16 = 4 pm.
ClosePositionsNonTH - Action before/after Trading Hours. If this is true, it will close trades whenever trading time ends.
OrderIncludeTPSL - If true, orders will have Take Profit and Stop Loss. If false, they will be added after the order is executed.
MaxNumberofPositions - Self-explanatory. This defines the max number of positions / orders opened at once.
MaxOrderRetry - If there is an error executing orders, the Expert Advisor retries MaxOrderRetry times.
UseMaximumPercentageatRisk - Turns on/off max risk condition. I would recommend to keep this setting at false, for obvious reasons.
MaximumPercentageatRisk - This defines the max percentage of equity at risk at once. So having this setting at 2, means only 2% of the equity will be risked at any time. Very useful setting since it allows the user to have control over the account.
UseRiskRatio - This defines if you want to use Risk to reward ratio or no, when it comes to Stop Loss and Take Profit.
RiskRatio - Only valid if the upper is true. Defines the Risk to Reward ratio. Currently with a value of 3.
UseLotManagement - Turns on/off lot management.
LotManagementType - We have 2 types of lot management on the Zig dan Zag Expert Advisor. The first one uses decrease factor. Type 1 on this setting to activate the decreasing factor. The second one uses fixed percentages. Type 2 to activate the fixed percentages.
ReductionFactor - This setting is used for money management lot. The default setting is 5. The formula is something like this: lot-(lot*losses/ReductionFactor). Play around with it & find your optimal solution.
UseMartingale - Self-explanatory. The Zig dan Zag Danu Expert Advisor uses martingale as well. But the best thing is you can turn it on or off. How cool is that?
MartingaleMultiplier - The Zig dan Zag Danu Expert Advsior uses only one multiplier. The default value is 2. Which means each lot size will be double the previous. This is only valid if UseMartingale is true.
afterLoss - True or False. Defines if you want to use Martingale after losses. Currently at true.
afterWin - True or False. Defines if you want to use Martingale after winners. Currently at false.
Slippage - This setting defines maximum slippage accepted to open an order.
S_Symbol_LS_0 - Is used to define the lot size when backtesting. Valid for sells. Value in pips (ex. 1 = 1 pip).
S_Symbol_TP_0 - Is used to define the Take profit when backtesting. Valid for sells. Value in pips (ex. 10 = 10 pips).
S_Symbol_SL_0 - Is used to define the Stop loss when backtesting. Valid for sells. Value in pips.
S_Symbol_TS_0 - Is used to define the Trailing stop loss when backtesting. Valid for sells. Value in pips.
B_Symbol_LS_0 - Is used to define the lot size when backtesting. Valid for buys. Value in pips.
B_Symbol_TP_0 - Is used to define the Take profit when backtesting. Valid for buys. Value in pips.
B_Symbol_SL_0 - Is used to define the Stop loss when backtesting. Valid for buys. Value in pips.
B_Symbol_TS_0 - Is used to define the Trailing stop loss when backtesting. Valid for buys. Value in pips.
MagicNumberLong - Defines the magic number for long orders.
MagicNumberShort - Defines the magic number for short orders.
ShowWarnings - Set to false if you do not want warnings/alerts.
CheckTSEveryTick - Checks trailing stops every tick regardless of Execution Mode (Bars or ticks). So if this setting is true, the trailing stop will be activated immediately. Otherwise, it will when the candle is closed (if it still meets the conditions).
UseTimeBasedTS - True or false. True means use time based trailing stop.
TimeBasedTS - Current value is 30. It means minutes. So if the UseTimeBasedTS is true, this setting will check for ts once every TimeBasedTS minutes.
Hedge - True or False. If true, allows hedging.
Zig dan Zag Danu Ultimate Investment Long Term Expert Advisor For MT4 - CONCLUSION
So we went after every setting on the Zig dan Zag Danu Ultimate Investment Long Term Expert Advisor. I did my best to explain them. Hopefully you have understood. As you can see, there are a lot of options when it comes to this Expert Advisor. From money management, to trading times, to hedging, to martingale etc.
Depending on your trading personality, you can play around & find your most optimal settings. Also keep in mind that different settings work for different markets. So if you plan to use this Expert Advisor, take your time to explore the settings. Since there are many options. You can find your sweet spot easily.
Having a lot of settings is not always good, since you can get overwhelmed. But in this case, each one is very useful. Gives us a different way to trade & a lot of customization.
So, please take your time. And as always don’t forget. Trade at your own risk!