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Andrews Pitchfork and Moving Average EA Controls

Article MQL5 code base
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Summary

This EA combines Andrews Pitchfork with two moving averages and is described as trading in the direction of the pitchfork trend. The pitchfork is intended to act as a filter alongside the moving averages. The EA also lists trailing stops, take-profit and stop-loss controls, maximum trade counts, and settings for moving a stop to break even. Position sizing can increase after a losing trade, and equity-based drawdown control is available.

The document says the pitchfork filter and moving averages work together in live trading, while backtests use the moving averages alone; visual tests can display the pitchfork without using it to create trades. It gives configurable parameter ranges but no performance evidence. The claim that the filter improves winning probability is not supported with results, and the description cautions users to try the EA on a demo account first.

Key ideas

  • The EA combines an Andrews Pitchfork trend filter with two moving averages.
  • Backtests evaluate the moving averages without using the pitchfork to generate trades.
  • The EA offers trailing stops, monetary profit and loss controls, and break-even settings.
  • Position size can rise after a losing trade, while an equity stop can limit drawdown.
  • The document supplies settings but no evidence that the approach is profitable.

Tags

ForexEquitiesTrend followingTechnical indicatorsRisk managementPosition sizing

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.