I have decided to start a thread in the Elite section about this EA which is an open source EA and a very good performer. I have backtested and forward tested this EA and the results are truly amazing. I would like to extend an invitation to anybody in this forum to draw their own conclusion. Here is my latest posting on the regular forum at: https://www.mql5.com/en/forum/174700
Since this is an open source EA I went ahead and translated the russian comments inside the code. Few observations I'd like to make:
1) The AutoLots I set to False by default to turn its aggressive MM off. Now it is trading 0.10 lots
2) Apparently this EA needs the tightest spreads to work properly. Therefore it can be used effectively only on EUR and JPY which have a spread of 2 pips at most brokers.
3) On backtests and live trading it does best on H1 timeframe so I think this is what we should use it on.
4) The MA and MACD can be experimented with..they are functional. Those can be turned on with the EnableMACD and EnableMA Inputs set to true. I recommend none, or one or the other but not both turned on.
5) CyberiaLogic seems to work best, although the other options can be experimented with. Use ONLY one at a time, otherwise the system get confused.
Any other recommendations are welcomed. I think this EA holds a lot of promise so lets work on it together and refine its usage. If you make any code mods to it, please change its internal version at the end of the code so that we can keep track of the changes. It is currently at version 1.50. Try to keep its money management off for now to reflect "barebone" performance.
Looking forward working with all of you and good hunting!
This EA looks good. But I think the Autolot must set to on. Because this EA is only taking 1-2 pips profit, so it must come with huge lots to have proper profit. I am testing this EA, and see this quite non-stressfull EA as one trade will be kept for only 5 minutes or less...
But we have watch the news to avoid damage on the profit. Close all open orders...
Any idea which boker is happy with this kind of trading.( big lots only 5 minutes or less). I heard North Finance only wants trade with at least 15 minutes.
Very interesting EA.
I was reading all the comments in Russian language but I want to say that it is very difficult to use it. Too many settings. I inserted timefilter for this EA but still can not figure it out on which settings I should use to have some profit. I am talking about backtesting. Can not find profitable settings.
It was written in Russian language that we should use scalping (pipsovka) for flat market only, use ManeyTrain before news coming and use some logic trading in the other time. Difficult. It is not automated.
I think we may use timefilter to use this EA just for flat, OR before news for example.
I made 2 tests, one with static lot size and second with autoscaling. I think if we use static lot size it will be more stable. And profit will be bigger.
I run this for 4 hours, it creates profit 28%. I turned the AutoLot on after 1 hour. No-headache and no stress for keeping the trade too long.
The setting is using default, I only change the AutoLot.
However, it is better to keep the "EnableCyberiaLogic" = true. This is said better than MACD and other enables. And only enable one at one time....
So far, I like this EA very much
5 hours, 33% profit
It is very nice, 33% within 5 hours.
All booked profit.
Default Setting, only AutoLot=true
This EA could be what I've been looking for.
Ok, so the next big question is if anyone knows of a broker who allows scalping and also utilizes MT4 for its clients. I just checked with IBFX and was told that there bank discourages scalping and even uses an anti scalping software which scans for scalping activity within client accounts. I was also told that the account would have its margin reduced as well as possibly having trades denied.
Check this out: - this is my conversation with Alpari customer service.
Kale: How about scalping at Alpari acc? Is it allowed?
Вы сейчас разговариваете с Edward Sungatyllin of Eng Lang Department.
Edward Sungatyllin: Hi. Yes
Kale: So I will not be punished if i will be opening and closing trades in period shorter than 5 minutes?
Edward Sungatyllin: moment
Please hold while being transferred to Julia Kulagina of Customer Service.
Вы сейчас разговариваете с Julia Kulagina of Customer Service.
Julia Kulagina: Hello
Julia Kulagina: yes, it's allowed
Julia Kulagina: we do ot forbid scalping
Kale: Great good to hear that, that is all I wanted to know, thanks.
NF & scalping
I've asked support at NF if scalping (considered as holding trades open for short time intervals, <5min) is allowed. Here is their answer:
Thank you for your e-mail. Scalping is not forbidden. You can do this without a problem. If you wish to do scalping you can do this.
If you have any more questions, please do not hesitate to contact me.
North Finance Support Team
I got the same result from Alpari. Response from Alpari:
> But some of the brokers don't like if we just keep order for just 5
> Will that be a problem?
Yes, you can trade with EA.
No, it's not a problem. You can hold your position open as long as you need.
I haven't got any news from North Finance. However, I've read in this forum, said it is forbidden for North Finance.
The EA said to have a 70 times within 1 day! Can you imagine... This is the statement posted in the free forum, I attached it here. Turning 10,000 to 700,000 within a day.
scalping and brokers
Well if scalping would be a problem, why not make some code to wait for an x amount of time untill the next trade?
If this EA generates good trades, then waiting a bit longer for the next trade wouldn't seem to be a problem to me.