Black Butterfly EA

Demonstration video (watch in HD)


Download this EA now on QUIVO forex
If you do not already have Metatrader 4 terminal, please download it here.
If the links doesn't work go to your Terminal's Markettab and search for Tradarz

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.