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Market Reversal Alerts EA MT4: Complete Settings Guide

Market Reversal Alerts EA MT4 is designed to identify and automatically trade market structure shifts and potential price reversals in forex markets. This guide helps you customize the EA’s parameters to match your trading style and risk tolerance. The EA works by analyzing market structure patterns and executing trades when price breaks support/resistance rectangles for consistent reversal trading opportunities.

You can find more details about the Market Reversal Alerts EA MT4 here.

Detailed Analysis of Input Settings of Market Reversal Alerts EA MT4

The parameters in Market Reversal Alerts EA are organized into functional groups controlling different aspects of trading behavior and risk management.

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Main Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use Wicks of Left Candle	Determines whether the EA uses wick prices or body prices for structure analysis	true	true/false	true captures more price action; false provides more conservative signals
Aggressive Mode – More Alerts	Enables a more sensitive signal detection algorithm	false	true/false	true increases trade frequency but may reduce quality
Numbers Of Bars For Re-tests	Sets how many bars the EA checks for retest signals	1	1-5	Higher values create stricter retest confirmations
Use Last HTF Alert Direction Filter	Restricts trades to align with higher timeframe direction	false	true/false	When true, reduces trades but improves quality
Higher Time Frame To Use	Defines which timeframe to use for higher timeframe analysis	4 Hours	M15, H1, H4, D1	Higher values provide broader market context

RSI Filter Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use RSI Filter	Enables RSI as an additional filter for trade entries	false	true/false	When enabled, reduces signals but improves quality
RSI Period	Number of candles used in RSI calculation	14	9-21	Lower values create more responsive signals
RSI High Level	Upper threshold for RSI filter	68.0	65-75	Lower values create more restrictive overbought conditions
RSI Low Level	Lower threshold for RSI filter	32.0	25-35	Higher values create more restrictive oversold conditions
RSI Type	Defines price type used for RSI calculation	Median price	Median price, Close, Open	Affects RSI sensitivity to price movements

HTF RSI Filter Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use HTF RSI Filter	Applies RSI filter from a higher timeframe	false	true/false	When enabled, provides broader market context
Higher Time Frame	Timeframe to use for the HTF RSI filter	4 Hours	M30, H1, H4, D1	Higher values provide longer-term trend context
RSI Period	Number of candles used for HTF RSI calculation	14	9-21	Lower values increase sensitivity
RSI High Level	Upper threshold for HTF RSI filter	68.0	65-75	Lower values create stricter overbought conditions
RSI Low Level	Lower threshold for HTF RSI filter	32.0	25-35	Higher values create stricter oversold conditions
RSI Type	Price type used for HTF RSI calculation	Median price	Median price, Close, Open	Affects RSI sensitivity to price movements

Moving Average Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use MA as Filter	Enables MA trend filter for trade entries	false	true/false	When enabled, aligns trades with the MA trend
MA Period	Number of candles used in MA calculation	200	50-200	Lower values create more responsive trend changes
MA Type	Type of moving average calculation used	Exponential	Simple, Exponential, Weighted	Exponential responds faster to recent price changes

HTF Moving Average Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use a HTF MA as Filter	Enables higher timeframe MA filter	false	true/false	When enabled, provides broader trend context
Higher Time Frame To Use	Timeframe for HTF MA calculation	4 Hours	H1, H4, D1	Higher values provide longer-term trend context
MA Period	Number of candles used in HTF MA calculation	200	50-200	Lower values create more responsive HTF trend signals
MA Type	Type of moving average used for HTF	Exponential	Simple, Exponential, Weighted	Exponential responds faster to recent price changes

ADR Filter Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use ADR Filter	Enables Average Daily Range as a volatility filter	false	true/false	When enabled, prevents trading when daily range is exhausted
Initial ADR Entry Level	Percentage of ADR to allow entries	100%	50%-100%	Lower values restrict trades to earlier in range development
ADR Number	Number of days to calculate average range	10	5-20	Higher values provide more stable ADR calculations

Dashboard Display Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Display EA Dashboard?	Controls visibility of the information panel	Display Dashboard	Display Dashboard/Hide Dashboard	Visual preference only
Dashboard Shift X/Y	Controls dashboard position on chart	X:20, Y:30	0-100	Visual preference only
Dashboard Box Width/Height	Sets dashboard size	Width:300, Height:18	Width:200-400, Height:15-25	Visual preference only
Dashboard Text Size	Controls text size in dashboard	9	8-12	Visual preference only
Font Type	Sets font used in dashboard	Corbel	System fonts	Visual preference only
Background/Text Color	Controls dashboard colors	White/DarkBlue	User preference	Visual preference only

Trailing Stop and Breakeven Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use Trailing Stop or Breakeven?	Enables dynamic stop-loss management	Disabled	Disabled, Trailing, Breakeven	When enabled, helps lock in profits
Move to Breakeven When in Profit By X Pips	Pips in profit before moving SL to entry	10	5-20	Lower values secure breakeven position earlier
Trailing Stop in Pips	Distance to maintain behind price when trailing	40	20-60	Lower values trail closer but risk earlier exit
Start Trailing When in Profit By X Pips	Profit required before trailing begins	10	10-30	Lower values start trailing earlier

Basket Trading Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Maximum Buy/Sell Orders	Limits simultaneous orders per direction	1 (each)	1-3	Higher values increase exposure and potential profit/loss
Multi Direction Baskets	Allows simultaneous long and short positions	False	True/False	When true, allows trading both directions simultaneously
Lot Size Multiplier	Multiplier for subsequent trades in a basket	1.0	0.5-2.0	Higher values increase lot size for additional trades
Minimum Distance Between Each Order	Minimum price movement before additional trades	20	10-50	Lower values allow more frequent basket entries
Generate Alert At Entry/Exit	Controls notifications for trade events	True	True/False	Preference for monitoring trades

Trade Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Trade Direction	Controls which signals to trade	both Signals	both Signals, Buy Only, Sell Only	Restricts trading to specific directions
EA Mode	Sets operational mode	Trading Mode	Trading Mode, Alert Only	Alert Only mode prevents automatic trading
Trade Comment	Custom comment for trade identification	Reversal Alerts EA	User preference	No impact on performance
Entry Method	Determines when entry signals are taken	INITIAL REVERSAL ALERT	INITIAL REVERSAL ALERT, RETEST ALERT	RETEST typically provides safer entries
Magic Number Buy/Sell	Unique identifiers for EA trades	1990/1991	Any unique numbers	Helps identify EA trades; different numbers for different instances
Close Trades On Opposite Signal	Automatically closes positions on contrary signals	false	true/false	When true, may reduce drawdowns but also potential profits
Style Of Trading	Execution method for trades	Market Order	Market Order, Pending Order	Pending orders may reduce slippage but risk missing entries
Distance Pending Order	Pips distance for pending order placement	10	5-20	Lower values place orders closer to current price

Money Management

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Use Balance Or Equity?	Determines capital base for position sizing	ACCOUNT BALANCE	ACCOUNT BALANCE, ACCOUNT EQUITY	EQUITY accounts for open positions when sizing
Lot Sizing	Method for calculating position size	FIXED	FIXED, RISK BASED	RISK BASED adjusts position size according to stop loss distance
Fixed Lot Size	Fixed lot size for all trades	0.1	0.01-1.0 (based on account size)	Higher values increase profit potential and risk
% Of Balance To Risk	Percentage of balance risked per trade	1.0	0.5-2.0	Higher values increase position size and risk

TP/SL Management

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
SL Mode	Method for setting stop loss	FIXED MODE	FIXED MODE, ADR MODE, HIGH/LOW MODE	Different modes adapt stop loss to market conditions
TP Mode	Method for setting take profit	FIXED MODE	FIXED MODE, ADR MODE, HIGH/LOW MODE	Different modes adapt take profit to market conditions
Use SL?	Enables stop loss for trades	true	true/false	Should always be true for proper risk management
Use TP?	Enables take profit for trades	true	true/false	When true, automatically secures profits at target

Fixed SL/TP Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Take Profit	Fixed take profit in pips	100	50-150	Higher values target larger moves but may reduce win rate
Stop Loss	Fixed stop loss in pips	50	30-80	Lower values reduce risk per trade but may increase stopped trades

ADR SL/TP Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Max Stop Loss Allowed	Maximum SL size when using ADR mode	50	30-80	Caps potential loss regardless of ADR calculation
ADR Number To Use	Days to calculate average daily range	10	5-20	Higher values provide more stable ADR calculations
SL ADR Multiplier	Multiplier of ADR for stop loss	1.5	0.5-2.0	Higher values set wider stops based on volatility
TP ADR Multiplier	Multiplier of ADR for take profit	2.5	1.0-3.0	Higher values set larger profit targets based on volatility

High/Low SL/TP Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Max Stop Loss Allowed	Maximum SL when using High/Low mode	50	30-80	Caps potential loss regardless of high/low calculation
Pips Beyond High/Low	Additional pips to place SL beyond high/low	10	5-20	Higher values provide more room for price movement
R:R Ratio	Risk-to-reward ratio for setting TP based on SL	1.5	1.0-3.0	Higher values set larger profit targets relative to risk

Time Of Day Filters

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Trade Only Between Set Hours?	Restricts trading to specific hours	false	true/false	When enabled, trades only during specified times
Hour/Minute To Start	Beginning of trading session	0:00	Based on preferred session	Controls when EA begins trading each day
Hour/Minute To End	End of trading session	20:00	Based on preferred session	Controls when EA stops trading each day

Summary and Recommendations

Start with fixed lot sizes of 0.01 per $1,000 account balance until familiar with EA behavior.
The EA works on all currency pairs and timeframes, but major pairs on H1-H4 typically provide the best balance of signals and noise.
Enable at least one filter (RSI, MA, or ADR) to improve signal quality.
Verify your broker’s specific pip definition as some count in 5-digit pricing (10 pips might actually be 100 points).
Consider using RETEST ALERT entry method for more conservative entries.
Test with SL/TP Mode set to ADR MODE for volatility-adjusted risk management.
Use a reliable VPS to ensure consistent execution, especially for reversal signals which can be time-sensitive.
Avoid changing parameters frequently; allow 20-30 trades before judging performance.
Always start with conservative risk settings (0.5-1% risk per trade) before increasing exposure.
Confirm broker server time to ensure time filters align with intended market sessions.
When using pending orders, adjust the distance parameter according to pair volatility.

Important Risk Warning

Forex trading involves significant risk of loss and is not suitable for all investors. Past performance of Market Reversal Alerts EA MT4 is not indicative of future results. External factors including market conditions, connectivity issues, and broker execution can significantly impact performance. Users are fully responsible for EA installation, parameter customization, and risk management. Always thoroughly backtest and forward test on a demo account before live trading. The developer accepts no responsibility for any trading losses incurred when using this Expert Advisor.