Supertrend EA MT4 is an expert advisor developed to trade in the MT4 trading platform. Expert advisors are also called trading robots because they are responsible for managing the trades on a fully automatic basis.
If you are using a trading robot no human supervision may be required. However, the Expert Advisor you use should be well tested in the real-time market environment and the indicators should be optimized.
Supertrend EA is a trend following Expert Advisor and it executes a trade when the trend changes, when a breakout occurs, when the correction happens and when pullback occurs. At the end of this article, you will find the download link. You will find the indicator folder and expert advisor folder.
Expert advisors alone will not display anything on your chart. If you want the visual form of your robot, you have to attach the indicator I’ve mentioned in the below download file. As I’ve already mentioned the parameters on which this Expert Advisor executed the trades, I will go in brief on this.
Change of Trend
If any positions are open, they will all be closed when the trend of the market changes.
This expert advisor uses Supertrend indicator as a stop loss level.
Before you jump to a live account with this expert advisor I advise you to use a demo account. In the beginning, it is recommended to learn to trade manually.
When you feel confident about your trading strategy then only you should code that trading strategy is to make it a robot. Generally, not all have the advantage of that because traders may not know how to code.
This expert advisor can be used on any time frame to trade any currency pairs. But you may not be able to trade precious metals and stocks as the program has been developed to trade forex.