Description

NB: Those who have purchased v11/12 can get updated to v13  free subject to our terms.

FRZ Indicator Automater is an expert adviser that can make orders/trades based on the indicator buffers and/or objects created by the indicator on the chart. It can open trades/orders based on your indicator signals. You can set TP/SL and also the trades can be closed on the opposite signals (optional). It can work with most of the indicators with the file format in ex4 or mq4. The EA features a host of added features as to signal filtering, money management, news filtering and many more!

EA Specs

Key features/options:

• Smart averaging module
• Trade based on indicator buffer signals or objects
• Market or pending orders
• ATR based TP/SL
• Inbuilt news filter
• Martingale option
• Time/session-based filter
• Filter by a second indicator
• Choppy market filter
• EMA filter
• Exit by an exit indicator

Quick Guide

Installation & Usage Video 

NB: Please read the PDF manual given for a complete guide on how to install and use the Automater

Automation based on the indicator buffers

Indicator buffers are given under the colors tab of the indicator. Buffers generally have numbers and corresponding colors. These colors represent some kind of drawing on the chart which can be an arrow signal, trend line, or anything else.

Given below is an example of buffers of an indicator:

If your indicator has indicator buffers, that can signal when to buy and sell, then you can use this option. All you have to do is to map the right buffer numbers to buy and sell signals.

NB: When you use buffers, the EA will only consider the default settings of the indicator. You can only change the default settings if you have the source file in mq4 format. However, we can add input parameters of indicators within the EA  at an additional fee. We can do it even if you have only .ex4 file.

There are 03 types of indicators you can automate with buffers

Type 1 – Indicators generating arrows or similar signs such as thumb up/down, dots, etc. for buying and selling.

Examples:

Type 2 – Indicators with one or two lines or histograms that change colors as per up or down trend.

Examples:

E.g. Histograms with color changing bars in a subwindows

Type 3 – Indicators with two lines where buy or sell is determined by the cross over.

Example:

The indicator may also be in a sub-window as follows:

Automation based on Objects Created by the Indicator

Some indicators generate objects on the chart as their buy or sell signals. This EA will work with almost any object that:

• has a time parameter under properties,
• has a common prefix in the name, and
• has different colors for buy and sell signals

For object-based trading, you need not rename your indicator.

The objects can include arrows, triangles, buttons, thumbs, etc. You can use these objects to make trades/orders with this EA. If you are only using object-based trading, there is no need to rename your indicator as mentioned before. The objects are captured based on their name prefix, color, and time of creation.

You may have both buffer based trading and object-based trading at once and also object-based trading can be from a second indicator.

Example of objects created on a chart by an indicator:

Objects sub window can also be automated.

Choppy/Ranging Market Filter

You can optionally enable a choppy/ranging market filter where your indicators’ signals will be filtered by the EA. The EA uses its own algorithm to detect choppy/ranging markets and any signals given by indicator during these periods will be ignored by the indicator.

Signal Filtering by a Second Indicator

The EA facilitates the signal generated by your main indicator to be filtered by a second indicator (only buffer based indicator can be used as the second indicator).

Please look at the below example screenshot to understand this feature. Indicator 1 is your main indicator that generates buy or sell arrows. And the second indicator (Trend Bars Indicator) is an indicator that shows the overall trend of the market. If you want to consider the buy and sell signals only when the overall market trend agrees with the signal (or even the opposite happens), you can use this feature to achieve that objective.

Signal Filtering by a Third Indicator

Optionally, you can further filter your first indicator signals by a third indicator. Unlike the second indicator that uses buffer color ID, this third indicator filter uses the values of the buffer/color IDs. For instance, you can use stochastic indicator as third indicator and set a rule to buy only when signal line is below 30 or you can use RSI indicator to buy when RSI is above 50.

Signal Filtering by an EMA line

Signals can also be filtered by an Exponential Moving Average (EMA) line as defined by the user.

My indicator appeared not to be profitable after initial tests, what additional features can I try?
There are many tweaks you may try before you give up on an indicator such as;

• Using ATR based SL/TP instead of fixed pips
• Using martingale
• Using pending orders instead of market orders
• Using OCO (one cancel other) pending orders
• Enabling more than one trade at a time
• Disabling auto close on opposite signals
• Limit the EA operation to specific forex market sessions
• Enable signal filtering by a second indicator
• Enabling the choppy market filter
• Enabling EMA signal Filter
• Enable signal filtering by a third indicator
• Use a specialized exit indicator