Omega Trend EA ReadMe File

This ReadMe file provides a detailed description of the Omega Trend EA code. Please note that Forex Robot Easy Team is not the official developer of this product. The code provided here is a sample code that can work as described in the product. To find the official developer of this product, please refer to MQL5.

For detailed reviews and trading results of this product, please visit Forex Robot Easy - Omega Trend EA Review.

Code Description

The Omega Trend EA is an expert advisor designed for trading in the Forex market. It uses trend analysis to make trading decisions and opens positions based on predefined criteria. The code consists of the following sections:

Input Parameters

• StopLoss - Specifies the stop loss in points.
• TakeProfit - Specifies the take profit in points.
• RiskPercentage - Specifies the risk percentage per trade.
• TrailingStop - Specifies the trailing stop in points.

Global Variables

• AccountBalance - Stores the current account balance.
• PositionSize - Stores the position size calculated based on the account balance and risk percentage.

Expert Initialization Function - OnInit()

This function is called during the initialization of the expert advisor. It retrieves the current account balance and calculates the position size based on the risk percentage.

Expert Tick Function - OnTick()

This function is called on each tick of the market. It retrieves the current market data, performs trend analysis, and makes trading decisions based on the analyzed trends. It opens buy or sell positions if the predefined criteria are met.

Trend Analysis Functions - IsUptrend() and IsDowntrend()

These functions implement the trend spotting mechanism. They check for macro and micro trends based on historical data. IsUptrend() returns true if an uptrend is present, while IsDowntrend() returns true if a downtrend is present.

Position Opening Functions - OpenBuyPosition() and OpenSellPosition()

These functions open buy or sell positions with predefined stop loss and take profit levels. They use the OrderSend() function to place the orders.

Position Size Calculation Function - CalculatePositionSize()

This function calculates the position size based on the risk tolerance. It takes the account balance and risk percentage as input and returns the position size.

Position Existence Checking Function - PositionExists()

This function checks if any open positions exist. It iterates through all the open orders and checks if the order symbol matches the current symbol and if the order type is either buy or sell.

Expert Deinitialization Function - OnDeinit()

This function is called when the expert advisor is being deinitialized. It closes any open positions before deinitializing by iterating through all the open orders and closing the orders with the matching symbol and type.

Product Description

Omega Trend EA is an expert advisor developed for trading in the Forex market. It utilizes trend analysis to identify potential trading opportunities and opens positions based on predefined criteria. The EA is designed to work with various currency pairs and timeframes.

Key Features:

• Trend analysis: The EA uses trend spotting mechanisms to identify uptrends and downtrends based on historical data.
• Predefined criteria: The EA opens buy or sell positions when specific criteria are met, including stop loss and take profit levels.
• Risk management: The EA calculates the position size based on the account balance and risk percentage, allowing for consistent risk management.
• Trailing stop: The EA includes a trailing stop feature to protect profits and maximize gains.

Please note that Forex Robot Easy Team is not the official developer of this product. We only provide a sample code that can work as described in the product. For detailed reviews and trading results of this product, please visit the official developer's website.