# Owashi MT4

Trend-following Expert Advisor for EURJPY on M15 chart, focusing on long-side trades with trailing stops.

Canonical: https://prismaticalgos.com/compendium/algo/12559-owashi-mt4
Record ID: 12559
Catalog rank: 1270 (reading order, not performance)
Snapshot: 2026-10-31 15:46 UTC
Family: Trend Following & Directional (A)
Source: https://www.mql5.com/en/market/product/204634
Evidence label (unverified): backtest_shown

## Scope and limitations

These are machine-extracted research records, not verified trading systems. Catalog rank measures specification detail and claimed evidence, not profitability. The catalog extraction pipeline did not independently backtest these records. Its separate selected testing ledger does not validate the wider corpus. Rules, labels and parameters can be incomplete or wrong; consult the original source and its reuse terms.

No endorsement, ownership claim or source-code reuse permission is implied.

## Extraction warnings

Opacity warnings: UNDEFINED ENTRY TERM: the entry conditions are prose naming a concept with no numeric definition, so two readers would implement them differently. Advisory only -- this does not affect the score.
Build warnings: MT4_ONLY: the captured source is MQL4 / written for MetaTrader 4. It needs porting (order functions, indicator handles) before it runs on MT5.

## Recorded profile

- symbols: EURJPY
- timeframes: M15
- sessions: GMT +2/+3 (brokers with 5 daily bars per week only)
- market_regime: trending

## Indicators

No indicator stack recorded.

## Recorded long-entry rules

- Start of a trend detected on the daily chart

## Recorded short-entry rules

- Not explicitly stated, but implied as a support feature

## Recorded exit rules

- Price moves against the trade, trailing stop once in profit

## Recorded filters

- Hedging (Yes/No)
- Weekend carry-over (Yes/No)

## Risk controls

- Stop loss: Buy 160 pips, Sell 200 pips (configurable)
- Take profit: Buy 260 pips, Sell 140 pips (configurable)
- Position sizing: 2 positions (1 per side), configurable