Tradarz

Black Butterfly EA
ADX (MT4)

Demonstration video (watch in HD)

Free

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Principle of operation

The Black Butterfly EA uses Average Directional Movement Index (ADX) indicator to enter a trade. The EA will only enter a trade if the ADX line crosses the MainLevel from below. If at the moment of the crossover the +DI is above the -DI it enters a BuyOrder, otherwise a Sell.

Parameters for the ADX

ADX_Period = Averaging period for calculation (default is 14)
ADX_AppliedPrice = In this parameter you can set the Applied price. It can be any value between 0 and 6 (default is 0/PRICE_CLOSE)

PRICE_CLOSE 0 Close price
PRICE_OPEN 1 Open price
PRICE_HIGH 2 High price
PRICE_LOW 3 Low price
PRICE_MEDIAN 4 Median price, (high+low)/2
PRICE_TYPICAL 5 Typical price, (high+low+close)/3
PRICE_WEIGHTED 6 Weighted close price, (high+low+close+close)/4

MainLevel = Is the horizontal level of the ADX main line. The EA will only enter a trade by the crossover of this level. (default is 20)

All others Parameters are described in the functions page.