Turn your indicator into an Expert Adviser! – A must-have tool for any forex trader! Now supports signal filtering by a second indicator.
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!
|Product name||FRZ Indicator Automater|
|Time frames supported||Any|
|Supported pairs||Designed for currency pairs (It may work on others but not guaranteed)|
Single purchase includes a license for any two (02) trading account numbers (Two accounts can be either 02 real accounts or 01 demo & 01 real account). You can submit your account numbers after purchase. You can submit the two accounts within 30 days of purchase. You can NOT change the account numbers later. Any additional licenses will be charged separately. We do not offer refunds or returns. The full terms and conditions are given here.
FRZ Indicator Automater MT4
|Support||Remote desktop support for setting up one indicator. General online chat/email support thereafter.|
Installation & Usage Video
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 rename your indicator to “myindicator” and then map the right buffer numbers to buy and sell signals. Also, make sure the indicator is placed within the MT4 Indicators folder (not in sub folders).
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.
Type 2 – Indicators with one or two lines or histograms that change colors as per up or down trend.
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.
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 note that you need to rename your second indicator as “myindicator2” in order to filter by your 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 an EMA line
Signals can also be filtered by an Exponential Moving Average (EMA) line as defined by the user.
Explanations for each setting will be provided in a PDF manual
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 (Setting 29-31)
- Using martingale (Setting 37-38)
- Using pending orders instead of market orders (Setting 32-36)
- Using OCO (once cancel other) pending orders (Setting 36)
- Enabling more than one trade at a time (Setting 28)
- Disabling auto close on opposite signals (Setting 27)
- Limit the EA operation to specific forex market sessions (Setting 39 -43)
- Enable signal filtering by a second indicator (Setting 49 -53)
- Enabling the choppy market filter (Setting 54)
- Enabling EMA signal Filter (Setting 55-56)