This tutorial shows how DeMark Expert Advisor (EA) can be used on charts of MT4 to Trade in Options.
Strategy Premise
The DeMarker (or DeMark) indicator, also known by the abbreviation “DeM,” is a technical analysis tool that compares the most recent maximum and minimum prices to the previous period’s equivalent price to measure the demand of the underlying asset. From this comparison, it aims to assess the directional trend of the market.
Strategy Logic
Long Entry: When DeM value Crosses Above The OverSold Limit (0.3)
Short Entry: When DeM value Crosses Below The OverBrought Limit (0.7)
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 DeMark on MT4, 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 DeMark Expert Advisor on chart.
7: Change the Input Parameters as per your Requirement
8: Now put the DeMark 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 |
| Averaging Period | Average Candle Period of DeM |
| OverSold Limit | Buy Order Limit |
| OverBought Limit | Sell Order Limit |
Recent Discussion