Bear Hands

EA Description.

Bear Hands is an EA automated trading system exclusively for MT4 that works with the 5-minute, 15-minute, 30-minute, 1-hour, and 4-hour time frames of the dollar-yen.It trades based on its own scoring evaluation using multi-timeframe analysis. By entering the level of importance for the 5-minute, 15-minute, 1-hour, 4-hour, daily, and weekly time frames, the system scores whether the current market is predominantly long or short and trades accordingly.Normally, in multi-time frame analysis, emphasis is placed on the upper legs (daily and weekly), while the lower legs (5-minute and 1-hour) are not considered important. In this EA, the default settings are as follows: 5 minutes => Importance 1, 15 minutes => Importance 2, 1 hour => Importance 4, 4 hours => Importance 7, daily => Importance 9, weekly => Importance 10, and the higher the number, the higher the importance.

The default setting is optimized for "USD/JPY", but all cross-yen currencies such as "GBP/JPY", "EUR/JPY", and "AUD/JPY" are supported. Operating Environment ・Operates on MT4 5-minute to 4-hour charts. All currency pairs are supported.Thedefault setting is to trade from 7:00 to 17:59 server time. Therefore, only GMT+2 (winter)/+3 (summer) brokers are supported. By changing the settings, the mode can be changed to operate 24 hours a day. Entry tends to be long when the evaluation value is in the positive range, and long positions are closed or short positions are held when the evaluation value is in the negative range. The details of the parameters and logic are not disclosed, but you can specify the number of candlesticks to be picked up (range 10-100). （By default, 20 candlesticks are collected for each time leg, and a positive decision is made when the current price is near a high, while a negative decision is made when the current price is near a low.The candlesticks collected do not include the current bar and the previous bar, but only the specified number of candlesticks from the two previous bars.The importance of each of these values is multiplied by the average value to obtain the overall evaluation value, and a short entry is made when this value is negative and a long entry when it is positive.Basically, the direction of trading is the same even if you switch the time axis of the chart, but we recommend using the 5-minute chart because it is the most stable. This EA is a trend-following EA that trades in the forward direction of the trend.
The logic is designed to take a long position near the highs in an uptrend.
The default setting is to enter only in the long direction.
Also, positions are closed at 18:00 server time, so positions are not carried over to the next day.
Since prices stick around the lows during a crash, we do not hold long positions during a sharp market decline.
During crashes such as the Lehman Shock or the Corona Pandemic, no trades are made and the market is in crisis avoidance mode and the market is wait-and-see.
If you are set up to have both long and short positions, you will take a short position in a downtrend.
Multi-Time Frame analysis is usually performed using MTF moving averages (multi-time frame). MTF moving averages allow the trader to check the moving averages of upper time frames on a single chart without switching time frames, but there are only a limited number of periods when the trend forms in the same direction on all time frames. Therefore, the number of trades is extremely limited, which is a weak point of the MTF moving average. Bear Hands was developed to improve this point. This EA does not use moving averages, but makes trading decisions by comparing the current price with the high and low of each time leg. The default setting is to take a long position when a strong uptrend occurs on the daily and weekly time frames. In the case of a downtrend, the same is true for trading decisions, with emphasis placed on the daily and weekly legs. When a short position is taken, a short position is taken when the overall evaluation value is below zero. For long positions, the sensitivity can be adjusted (range 10-30), and a long entry is made when the evaluation value is above this value. Due to the nature of this indicator, it is a range break and trend follow method, so it is not good in a range market. Therefore, in a range market, the asset transition will be flat, but when an uptrend occurs, a large profit can be made .

Set to enter only long positions

Setup for both long and short entries

The long-only strategy has lower drawdowns and higher win rates, but it also reduces the number of trades, which reduces the total profit.

Please switch settings according to your preference.

Setting items
Magic = 48810;// Magic number for EA identification
Lots = 0.1;// Number of lots 1.0=100,000 currency 0.1=10,000 currency 0.01=1,000 currency
StopLossRequest = 4.0;// Stop order 0.5=50 pips 1.0=100 pips 10=1000 pips
TakeProfitRequest = 5.0;// Limit order 0.5=50 pips 1.0=100 pips 10=1000 pips
Sensitivity = 10;// Adjust long sensitivity (range 10-30) Go long when the decision value is above this value
Index_Period = 20;//Specifies how many candlesticks data to pick up (range 10-100)
Importance5M = 1;//The importance of the 5-minute candlestick (range 1-10), the higher the number, the higher the importance.
Importance15M = 2;// Importance of the 15-minute leg (range 1-10): the higher the number, the greater the importance
Importance1H = 4;//Importance of the 1-hour leg (range 1-10), the higher the number, the greater the importance
Importance4H = 7;//The importance of the 4-hourly (range 1-10), the higher the number, the greater the importance
Importance1D = 9;//Daily Importance (range 1-10), the higher the number, the greater the Importance
Importance1W = 10;// Weekly Importance (range 1-10) the higher the number the greater the Importance
Slippage = 1;// Allowable Slip
MaxSpread = 30;// Allowable Spread Enter the difference between the Bid and Ask values e.g. 30 => 3 pips
TimeHour24 = false;// Set to 24 hour trading mode true Trade only from 7:00 to 17:59 server time false
Scalping_Mode = true;// Close position at 18:00 server timetrue Hold positionfalse
OnlyLong = true; // enter a new long position onlytrue enter both long and short positionsfalse
Discretionary_Trading = false;//set to discretionary trading modetrue set to auto trading modefalse
MaxError = 30;// Maximum number of consecutive entries (range 20-100)
CommentOnOff = true; // comment on chart screen display true don't display false
Monday = true; // new entry on Monday true not false (server time GMT+2 (winter)/+3 (summer))
Tuesday = true; // new entries on Tuesday true not false (server time GMT+2(winter)/+3(summer))
Wednesday = true; // new entries on Wednesday true not false (server time GMT+2(winter)/+3(summer))
Thursday = true; // new entry on Thursday true not false (server time GMT+2(winter)/+3(summer))
Friday = true; // new entries on Friday true not false (server time GMT+2(winter)/+3(summer))
StopsAndLimits = false; // Auto correct stop and limit values during sign on true not false
Supported FXBrokers] Supported brokers in GMT+2(winter)/+3(summer) for MT4 EA to work.

Version Upgrade History

1、Addition of automatic correction function of stop and limit values
Even if the stop or limit is caught due to a large rate movement while the sign is on, it will re-enter in the same direction as long as the sign continues to be on.
By setting true to automatic correction, the stop and limit values are automatically changed while the sign is on, making it more difficult to get caught by the stop or limit.

2, Revise the setting of the maximum number of entries per day
Add the following items to the property items
MaxError = 30;// Maximum number of consecutive entries (range 20-100)
This is a protection program in case an order does not go through due to insufficient margin, server error, etc., and an infinite loop of orders occurs.
The number of entries was previously fixed, but has been modified to allow the number of entries to be set freely.
The timing for resetting the number of times in the program is 3 times: 4:00 (10:00-11:00 Japan time), 11:00 (17:00-18:00 Japan time), and 18:00 (24:00-1:00 Japan time) server time.
If the maximum limit is reached, for example by manually making a settlement, the count will be reset to 0 by restarting MT4.

3, Added a setting to not submit orders when the spread widens.
Allowable Spread Enter the difference between the Bid and Ask values e.g. 50 => 5 pips
Default MaxSpread = 30

4, Added the ability to choose between discretionary mode and automatic trading mode.
Added the following items to the property items
ManualMode = false; //true to set discretionary mode false to enable auto-trading
Until now, even after manual closing, as long as the sign continued to appear, the position was taken in the same direction again.
Added setting to not place a new order without stopping the EA.
Setting ManualMode to true will put the EA in discretionary mode and no new and close orders will be placed.
The following notice comment is displayed on the chart screen.
The following comment will appear on the chart screen: "Currently operating in discretionary mode. No new entries will be made with the current settings.

5, Add a setting to enter only in the long direction.
The default setting is to take a position only in the long direction.
To have both short and long positions, set OnlyLong = false.

Indicator version] Introduction of Multi Time Sc ore ■Indicator description pagehttps://www.gogojungle.co.jp/tools/indicators/48811 The indicator uses multi-time frame analysis to evaluate the score and determine the level of importance for each time axis. The Multi Time Score is a sign indicator that evaluates the score by multi-time frame analysis and displays a buy/sell sign by specifying the level of importance for each time axis and determining whether to go long or short. It uses the same logic as Bear Hands, so we hope you will use it for discretionary trading.