Chaos Trader Lite - MetaTrader 4 Expert - MT4/MT5 Resources

You can find the free version of the program on the MetaTrader Market: https://www.mql5.com/en/market/product/25154

Chaos Trader Lite attempts to utilize various aspects of chaos theory to trade in the market. The trader drew specifically from the theories of Bill Williams. Every version of MetaTrader includes the Bill Williams indicator. I wonder why he was considered so important that his own set of indicators was added to MetaTrader with name attribution. Through research, I discovered that Bill Williams wrote a book using chaos theory to trade the markets. The Bill Williams indicator is very useful when trading with Chaos Theory.

Experts find bearish divergences and initiate trades at the beginning of a possible trend change, which is the first wise man. Next, if the trade is going in the right direction based on the awesome oscillator, it will try to add to the position, which is the second sage when the awesome indicator repeats three upward bars for a buy stop or three downward bars for a sell stop.

The third wise man is based on fractals. When a fractal is formed, the buy stop will be above it if it is a buy fractal and vice versa, it is said that during a trend, sometimes the trend will stop for a while and then resume, this is to allow you to add to your position during these recovery moments. It is recommended to add fractal indicator and alligator indicator.

If at any time it receives notification that it is trading in the wrong direction, it will close all trades in the wrong direction and open positions in what it believes is the correct direction. The Expert Advisor has six parameters.

“ The market is a product of chaos—a soup far from equilibrium, boiling in the uneven flames of trader psychology. ”

Gregory Williams, Justin. Trading Chaos: Maximizing Profits with Proven Technical Tips (Market Book) (Kindle Locations 591-592). Willy. Ignite Edition.

This is not a guarantee of any profits, the above is just a reference to a book that I drew inspiration from when creating my Expert Advisor. The Expert Advisor is a proof-of-concept project, not a money-making project, so it's free.

Attachment download

📎 chaostraderlite.mq4 (17.6 KB)

Source: MQL5 #19043