The developer of this EA is Arturo Lopez, founder of Point Zero Trading Solutions.
Trend following systems can vary, but principle elements remain the
same. A reversal system, a very common system, has two modes: you are
either long or short. It is always in the market and closes one position
by opening a new one in the opposite direction.
With this MT4 Expert Advisor, you can either be long or short at any
given time. You enter a long position and exit a short position if the
current price closes above the highest price in the previous 100 days.
You enter a short position and exit a long position if the current price
drops below the lowest price in the previous 100 days.
This system should be applied to a huge variety of instruments to
make sure to catch some big trends to pay for the other little losses.
You should trade forex, commodities, indexes, interest rates, government bonds and even sectorial stocks. As a sidenote, Bill Dunn is a long term reversal trend follower that exploited the Japanese Yen
to extreme levels in 1995 with a reversal system exactly like this one
and has reaped incredible profits since then.