This tutorial shows how ASC Trend Expert Advisor (EA) can be used on charts of MT4 to Trade in Options.
Strategy Premise
ASCTrend System is a trend following Metatrader 4 system composed of three trading indicators. It provides signals for any currency script. The ASCTrend1 indicator colors the bars according to the prevailing market trend.
The ASCTrend1Signal: main indicator in the system showing the signals for buy or sell (yellow and magenta). If the signal is repeated it simply means we can re-enter an additional buy or sell order in the same trend direction.
Button Functionality
When you click Buy button, it will send LE in Call and LX in Put. Sell button sends LE in Put and LX in Call.
For selecting ITM distance from current price. Example, say LTP = 11000,
Strike distance = 50; then CE strike =10950; PE strike= 11050
Strategy Logic
Long Entry: Initiate long trade if the script trades above the magenta dots and a yellow arrow appear on the chart.
Long Exit: Exit happens with Short Entry
Short Entry: Initiate short trade if the script trades below the purple dots and a purple arrow appears on the chart.
Short Exit: Exit happens with Long Entry
When Strategy gives buy, it will send LE in Call and LX in Put. When Strategy gives sell, it will send LE in Put and LX in
MT4 Settings
To start Algo trading with ASC Trend on MT4 to trade in options, simply follow the steps given below.
1: Make sure you have completed Jump Start setup
2: Download zipped files from here and extract them. You will find two sub-folders: Experts and Include. The files in these sub-folders should be copied in your MT4 directory in the same folders. In MT4 Click on File => Open Data Folder=> Click on MQL4 => Experts folder. Copy-paste the downloaded file to the Expert folder.
3: For include files, In MT4 Click on File => Open Data Folder=> Click on MQL4 => Include folder. Copy-paste the downloaded file to the Include folder.
4: In MT4 => Tools => Expert Advisor => Check all option available as shown below.
5: Go to navigator click on refresh to refresh indicator and expert advisor.
6: Now put ASC Trend Expert Advisor on chart.
7: Change the Input Parameters as per your Requirement.
8: Now put the ASC Trend Indicator on the chart and Change the Parameter as per the Inputs Set in EA.
Please note that the input parameters of EA and the indicator should be the same, or the signal generation will not match with the indicator.
Here are the Strategy Parameters
| Strategy tag | Use default STG1 unless trading in multiple strategies |
| Port | This should be same as API bridge port application will signal from same port |
| Base symbol | Put the base symbol example “BANKNIFTY” here in which you want to place an order |
| Expiry | Put contract expiry here |
| Order type | Select order type here from MARKET,LIMIT, SLL,SLM |
| Instrument | OPTIDX |
| Risk | Risk for ASC Trend |
| Counter Bar | Value of Counter Bar |
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