MMD Diamond Expert Advisor

Automate Your Trading Based on Powerful MMD Diamond Patterns - For MT4 & MT5!

The MMD Diamond Expert Advisor (EA) is an advanced automated trading system for MetaTrader 4 and 5. It leverages the analytical power of the MMD Diamond patterns to identify and execute trades. The core idea is to capitalize on the statistically significant market zones highlighted by MMD Diamond formations, automating the entire trading process from entry to exit, thereby eliminating the need for constant manual chart observation and emotional decision-making.

This EA uses the logic of the MMD Diamond indicator to detect specific multi-candle patterns that often precede significant price movements. It then applies a highly configurable set of trading rules, order management, and risk parameters to manage trades based on these Diamond signals.

Automated Trading with MMD Diamond Logic

MMD Diamonds are unique candlestick patterns that signify potential market turning points or strong continuation phases. The MMD Diamond EA is engineered to:

• Automatically scan the chart for Standard Diamond (00100 sequence) and Reversed Diamond (0010100 sequence) patterns on the user-defined Diamond Time Frame.
• Filter these patterns based on their Open-Close range (Min/Max Diamond Range Points) and optional time-based exclusions (Use Diamond Exclude Time).
• Execute trades (BUY or SELL, or both, based on Trading Direction) when price interacts with a valid Diamond zone according to the EA's entry logic.

By automating this process, the MMD Diamond EA aims to capture opportunities based on these statistically relevant patterns with precision and discipline.

Key Features & Benefits of MMD Diamond EA

• Automated Diamond Pattern Trading: Identifies and trades both Standard Diamond and Reversed Diamond patterns.
• Flexible Entry Logic:
  • Distance To Open First Setup [Points]: Defines how close the price must approach a Diamond zone to trigger the first order(s).
  • Distance To Open Next Setup [Points]: For subsequent entries if the first setup doesn't fill or if a multi-entry strategy is used.
  • Distance To Diamond To Open Setup: Overall proximity filter for activating setups near a Diamond.
• Advanced Order Grid System:
  • First Order Mode: Choose between a single, double, or triple first order placement strategy.
  • Define up to 10 grid levels (Position Size 01-10) with individual lot sizes.
  • Open Shift Mode: Grid levels can be spaced based on fixed Points or as a Range Multiplier of the Diamond's height.
    • Separate inputs for Open Shift (Points) and Open Shift (Range Multiplier) for each of the 10 grid orders.
• Sophisticated Lot Sizing & Risk Management:
  • Lot Size Mode: Fixed lots, or dynamic lots based on Balance/Equity percentage or a fixed risk amount (though specific inputs for %/amount risk are not in this EA version, it uses Balance For Position [Lot_perBalance] for a type of balance-based scaling).
  • Lot Multiplier for grid orders if Lot Difference mode is set to multiplier. (Note: This EA uses direct lot sizes per grid level, not a multiplier from a base lot).
  • Used Spread: Factor in spread for more precise calculations.
• Comprehensive Trade Exit Strategies:
  • Take Profit (TP):
    • TP Mode: Set TP in Points or as a Range Multiplier.
    • Initial TP Shift (Points/Range Multiplier): Defines the initial take profit target.
    • Move TP: Up to 4 stages (Move TP After Entry Position Nr 1-4) to adjust the TP target (TP Shift After Move in Points/Range Multiplier) as more grid orders are filled.
  • Stop Loss (SL):
    • SL Mode: Set SL in Points or as a Range Multiplier.
    • SL Shift From 01 (Points/Range Multiplier): Defines the stop loss distance from the first order in the grid.
  • Slippage control for order execution.
  • Break Even (BE) Function:
    • Move SL On BE: Enable to move SL to break-even.
    • BE Active (Points): Profit level at which to activate BE.
    • BE Shift From 01 (Points): How many points in profit to set the BE.
  • Safe Profit Function:
    • Use Safe Profit Function: Secure profits when nearing TP.
    • Min Opened Orders To Safe Profit.
    • Max Dist To TP To Active Function.
    • Dist To TP Back To Close Orders: Logic to close profitable trades if price retraces after nearing TP.
• Trade & Session Management:
  • Max Number Of Setups Per Diamond: Limit trading activity per identified pattern.
  • Min Distance Between Setups: Avoid over-trading in close proximity.
  • Max Daily Loss: Protect your account with a daily loss limit in account currency.
  • Trading Time Filters: Define specific days (Trade On Monday, etc.) and hours (Start Time, End Time) for EA operation.
  • Diamond Exclude Time: Ignore Diamond patterns forming during specified inactive market hours.
• MMD Trend Filter:
  • Option to Use MMD Filter based on Fast MA (Fast MA Period) and Slow MA (Slow MA Period) Cloud relationships on a chosen MA Time Frame to align EA trades with the broader MMD trend context.
• Visuals & Interface:
  • Option to Plot Diamonds on the chart with customizable colors (Diamond Color Standard, Diamond Color Reversed).
  • On-chart button (if Show Button is true) to toggle EA's trading activity (Trading ON on init sets initial state). Button appearance and position are customizable.
• Unique Magic Number: Ensures EA manages its own trades distinctly (Magic Number).
• License Management: Securely managed via DLL.

Automating MMD Diamond Strategies

The MMD Diamond EA translates the analytical insights of the MMD Diamond indicator into a fully automated trading solution. It is designed to systematically execute strategies based on these high-probability patterns, managing entries, exits, and risk according to your precise settings.

This EA is particularly powerful for traders who want to apply MMD Diamond strategies across multiple instruments or timeframes without being tied to their screens, or for those looking to rigorously backtest and optimize Diamond-based approaches.

If you have any questions related to this product, write to the email address: support@magiconcharts.com.

We will be happy to answer your questions promptly.