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The EA is recommended for trading USDJPY M5. It is based on the strategy of "waiting out", the market entry (and exit) points are determined on the basis of correlation of a number of indicators. The trading volume for opening a position depends on results of previous trades. It is possible to limit the amount of risk (the AutoMM parameter). It is also possible to set the maximum spread, above which the EA will automatically suspend trading (the MaxSpread parameter). It also has advanced features for managing news releases.
Link to signal of EA - https://www.mql5.com/en/signals/945506
- StopAfterNews - a pause after the market news release, in minutes.
- StopBeforeNews - a pause before the market news release, in minutes.
- LightNewsEnabke - enable the pause for low-impact news.
- MediumNewsEnable - enable the pause for medium-impact news.
- HardNewsEnable - enable the pause for high-impact news.
- GMT_Offset - your broker's time zone.
- NewsCurrency - a comma separated list of currencies for which you want to receive news.
- NewsLines - show time of news releases on a chart as lines.
- VirtualSLandTP - enable virtual or real stop loss and take profit levels.
- TakeProfitS - take profit for sell orders.
- StopLossS - stop loss for sell orders.
- TakeProfitL - take profit for buy orders.
- StopLossL - stop loss for buy orders.
- FixedLot - fixed lot size.
- AutoMM - risk limit (as a percentage).
- MaxSpread - maximum spread, above which the trading is suspended.
- MagicNumber - any unique number that distinguishes this EA.