Description

Elder Triple Screen EA

Short Tagline: An implementation of Dr.

Short Description:
Elder Triple Screen EA is a fully automated trend following / pullback (multi-screen). Expert Advisor for MT4 and MT5. An implementation of Dr. Built-in risk controls and market filters keep execution disciplined across live and demo accounts.

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Overview

An implementation of Dr. Alexander Elder’s Triple Screen system. The first screen (higher timeframe) sets the trend “tide” with a trend indicator; the second screen (intermediate) times oscillator pullbacks against the tide; the third screen executes with a breakout trigger.

Features

• Screen 1: MACD histogram or EMA slope (trend/tide)
• Screen 2: Force Index or Stochastic (oscillator, counter-tide pullback)
• Screen 3: breakout trigger (prior bar high/low)
• Configurable stop-loss, take-profit, and trailing logic
• Session, spread, and news-time filters for disciplined execution
• One-trade-per-bar / duplicate-signal protection
• Clean, single-file MQL4 and MQL5 implementations
• No hidden logic — every input is exposed and documented
• No martingale, no grid, no hidden recovery logic

Trading Strategy

Entry logic: – Screen 1 bullish (rising MACD histogram / EMA up) => only longs allowed.

• Screen 2: wait for the oscillator to dip into oversold (a pullback against the up-tide).
• Screen 3: place a buy stop above the prior intermediate bar’s high; fill triggers the long.
• Mirror for shorts when Screen 1 is bearish.

Exit logic: – Exit when Screen 1 tide flips or Screen 2 oscillator reaches the opposite extreme.

Stop-loss: SL below the recent Screen-2 swing low (long) / above swing high (short); Elder-style below the trigger bar.

Take-profit: TP at 2-3R; partials at the prior swing, runner exited on tide flip.

Trailing stop: Trail behind intermediate swing points as the trend advances.

Break-even: Break-even at 1R.

Why it works: Structured, disciplined multi-screen framework with a strong pedigree.; Combines trend, timing, and execution cleanly..

Recommended Settings

• Timeframes: Weekly/D1 (tide), D1/H4 (wave), H4/H1 (trigger) — any 1:5 ratio triple.
• Instruments: EURUSD, GBPUSD, USDJPY, XAUUSD, US30, USOIL.
• Account type: ECN/Raw spread accounts preferred
• Minimum recommended balance: $500+ (adjust lot sizing to your risk tolerance)
• VPS: Recommended for 24/5 uptime and consistent execution
• Risk management: Risk 1% per trade; Elder’s 2%/6% rules (max risk per trade and total monthly). Max 3 open.

Supported Markets

Forex majors, indices, gold, commodities.

Supported Brokers

Compatible with any regulated MT4 or MT5 broker offering standard order execution (market or instant execution). Works with ECN, STP, and standard account types. No broker-specific dependencies.

Installation Guide

1. Download the .ex4 (MT4) or .ex5 (MT5) file from your purchase delivery.
2. Open MetaTrader, go to File → Open Data Folder.
3. Copy the file into MQL4/Experts (MT4) or MQL5/Experts (MT5).
4. Restart MetaTrader or right-click Expert Advisors in the Navigator and select Refresh.
5. Drag the EA onto the chart of your chosen symbol and timeframe.
6. Enable Allow live trading (and Allow DLL imports if prompted) in the Common tab.
7. Adjust inputs to match your risk profile, then click OK.
8. Confirm AutoTrading is enabled in the toolbar.

• Session filter: Session-agnostic on higher timeframes; use London/NY for the trigger screen.
• Spread filter: Reject if spread > 2.5 pips / symbol threshold.
• News filter: Pause the trigger screen 15 minutes around high-impact news.
• Volatility filter: Require the trigger bar range and ATR to be adequate for a real breakout.

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, and simulated outcomes are not indicative of future results. This EA does not guarantee profits. Always test thoroughly on a demo account before deploying real capital, and never risk funds you cannot afford to lose.

Version

v1.0.0

Support

Support is provided through the marketplace messaging system. Please include your broker, symbol, timeframe, and EA version when reporting an issue.

Updates

Free updates are provided for bug fixes and compatibility improvements. Feature updates may be released as versioned upgrades.

FAQ

Q: Does this EA work on both MT4 and MT5?
A: Yes, separate optimized builds are provided for each platform.

Q: Can I run this on multiple pairs at once?
A: Yes, attach separate instances to separate chart/symbol combinations.

Q: Does it use martingale or grid recovery?
A: No. This is a pure signal-based strategy with defined risk per trade.

Q: What timeframe works best?
A: Weekly/D1 (tide), D1/H4 (wave), H4/H1 (trigger) — any 1:5 ratio triple. for the cleanest signals, but the EA can run on other timeframes with adjusted inputs.

Q: Is a VPS required?
A: Not required, but strongly recommended for uninterrupted 24/5 operation.