"Neovenator" is a 100% adaptive expert advisor based on price movement. It has a built-in unique Smart Recovery algorithm.
Only one trade at a time. Every trade has Stop Loss and Take Profit from very beginning, and they do not change.
This is for those, who are looking for stable growth over the long run.
Current price is a special launch promo price. It will be gradually increased over time.
My favourite are EURUSD, EURJPY. You can also try other pairs with more conservative settings
Broker and Leverage
"Neovenator" is not broker sensitive, you may chose any broker you trust to. The less the spread is, the better.
Recommended leverage is 1:100 and 1:500 is even better.
Time Frame of the chart for real live execution does not matter. But, make sure that you have all timeframes data available in history center (F2).
In MT5 any timeframe for backtesting will work.
Base Lot, per every 1000 of Balance - sets the lot. It is calculated as BaseLot*(Balance/1000). So, if you have an Account with 2000USD and Base lot is 0.05, your traded lot will be 0.05*(2000/1000) = 0.1
Recovery Aggression - "Neovenator" has a built-in recovery algo. It will auto increase the lot after the losing trade to recover the loss. Lott is calculated dynamically. The bigger the recovery aggression parameter is set, the more aggressive lot increase happens. If set to 0, there will be no lot increase and all trades will be performed with Base Lot, as per settings above
Max Lot, times Base Lot - Limits the max lot, which can be used if Smart Recovery is enabled. It is set as a multiplier for base lot. I.e. if it is set as 15 and base lot as per calculations above is 0.1 lots, the Max allowed lot per trade would be 15*0.1=1.5
Magic Number - unique EA identifier. Should be set different in case when multiple instances of EA are used on the same currency pair.
No Action - enables / disables "No Action" or Sleep mode, when EA is not taking any trading action. May be useful when you decide to manage trades manually. Also, you can enable No Action after migration to MQL5 VPS, so EA does not attempt to trade on your local PC.
Balance : $500 - $5000
Base Lot, per every 1000 : 0.01-0.03
Other Settings: defaultsPairs : EURUSD, EURJPY
Neovenator can work on VPS solution from MQL5. But this EA has some nice graphical controls, which can only be used on "normal" VPS with desktop access.
1) "Neovenator" is designed for trading ForEx. It was not tested on metals, shares etc.
2) This EA will not work on accounts with overnight positions rollovers (closing and reopening by broker). ALL ACCOUNTS WITH SWAPs ARE OK.