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MoMo Trade MT4
MoMo Trade MT4 (MT5 version https://www.mql5.com/ru/market/product/59093) - trading system based on one of the momentum strategies. It uses simple and reliable tools like MACD and EMA to find entry points. The trading strategy looks for reversal patterns after trend area. The EA has implemented to work on M5 timeframe and focuses on short-term profit targets. But it also can be used on any timeframe.
The volume amount is fixed (Fixed volume) or calculated based on risk per trade parameter (Risk per trade). Fixed volume uses when Risk per trade = 0.
Partial close closes only one part of a position! There is the opportunity to choose percent of volume to close part of a position, set stop loss to breakeven after closing part of a position, distance for trigger partial close.
Distance of trailing stop activation means distance of moving price to profit. Stop loss is never moved to greater side.
Multicurrency tradingFor ability to trade on different instruments the EA should be set with equal Magic on each instrument. The only trade can be opened at one time on the same instrument. However, there are several positions can be opened at the same time, but each one on a separate instrument. Total count of opened trades is controlled by parameter Max opened trades for multicurrency.
Input parameters description
- Fast EMA period - Period of fast EMA in MACD.
- Slow EMA period - Period of slow EMA in MACD.
- Trend area number of bars - Number of bars for calculating MACD average amplitude. The bigger number of bars, the longer should be trend area.
- Average MACD value - Average MACD value on trend area. The higher amplitude, the stronger should be trend on the trend area.
- Timeframe - EA's timeframe. The EA has been implemented for M5, but it can be used on any timeframe.
- Stop Loss - Stop loss amount in points (5 digit points).
- Take Profit - Take profit amount in points (5 digit points).
- Fixed volume - Used only when Risk per trade = 0.
- Risk per trade - Percent of balance on one trade to loss. If 0, Fixed volume uses.
- Max opened trades for multicurrency - Maximum of simultaneously opened trades on different instruments.
- Enable partial close - On/Off partial close.
- Enable breakeven after partial close - On/Off setting stop to breakeven after partial close.
- Distance for partial close - 5 digit points.
- Percent of closed part - Percent of position volume for partial close.
- Enable trailing stop - On/Off trailing stop.
- Activation distance - Distance to the profit side for starting trailing stop work (5 digit points).
- Trailing distance - Distance of trailing stop. Amount of stop loss changes to this distance (5 digit points).
- Working hours string - Line for setting EA's working hours. Format (0,1,2,10,23). Time sets in UTC-0 (GMT-0). If line is empty, there are no time restrictions.