Edgeweasel FTMO
- Experts
- Edgellence
- Version: 1.18
- Updated: 16 April 2024
- Activations: 5
Edgeweasel FTMO: This EA stands out as an exceptional Expert Advisor, specifically designed for traders targeting success in FTMO challenges and those who aspiring to succeed in proprietary trading. It serves as a valuable tool for anyone looking to meet the stringent criteria of prop trading firms. Optimized to operate within the strict constraints of these firms, Edgeweasel FTMO offers traders a competitive advantage in a challenging environment.
The core strategy of the EA leverages the Opening Range Breakout (ORB) method, a well-regarded and systematic approach designed to take advantage of market movements through the identification and pursuit of breakouts from an established range right after the market opens. In addition to its strategic prowess, Edgeweasel FTMO is designed with integrated risk management features to match the stringent risk parameters of FTMO. It monitors drawdown levels, ensuring traders stay within the acceptable loss thresholds and protect their positions. It also includes a option to cease trading once the target profit is reached, preserving gains in accordance with FTMO's profit objectives.
Calibrating: We emphasize a streamlined approach to strategy development, reducing the likelihood of overfitting—a common issue when excessively tuning numerous parameters to historical data. We have deliberately limited the number of adjustable parameters and excluded any inputs that do not demonstrably affect outcomes. Beyond the basic parameters accessible via the input parameter screen, other adjustments can be done but require an external file** and remain unoptimizable in the strategy tester***, preventing overfitting and enhancing reliability in live or prop firm trading. This advisor operates independently of your chart timeframe using trading server time, noting that charting entailing timeframes above hourly (e.g., bi-hourly or daily) is not supported.
Support and Assistance: Our dedicated team is committed to providing outstanding support, ready to address any questions or challenges promptly. Our aim is to ensure a smooth and supportive experience, offering dependable assistance as needed.
Communication: Feel free to contact us via email or DM and or check the Edgeweasel channel https://www.mql5.com/en/channels/edgeweasel to keep up you updated!
"With Edgeweasel FTMO, traders gain access to an expertly developed tool that not only navigates the intricacies of the ORB strategy but does so with the precision and control needed to advance through the FTMO set of rules successfully."
Example settings, without excessive optimization:
| Hourly timeframe | 2019/01/01 - 2023/12/31 | |
|---|---|---|
| Description | Parameter | Value |
| Alias | Alias | Edgeweasel FTMO |
| Configuration | Configuration | Initial setup |
| Auto lot | RiskAdjustedPositionSize | true |
| Lot size | LotSize | 1 |
| Risk percentage | RiskPercentage | 0.5 |
| Risk return ratio (1:N) / 0 = no TP | RiskReturnRatio | 0 |
| Start day trading | StartDayTrading | 2019-01-01 |
| Initial balance | InitialBalance | 100000 |
| Target profit percentage | ProfitTargetPercentage | 10 |
| Maximum daily loss percentage | MaxDailyLossPercentage | 5 |
| Maximum total loss percentage | MaxLossPercentage | 10 |
| Close all positions on target | CloseAllOnTargetReached | false |
| Hour reset daily loss (server time) | DailyLossResetHour | 22 |
| Instruments (,) | Instruments | EURUSD,GBPUSD,USDJPY |
| Start trading hour | StopOrderOpenHour | 12 |
| End trading hour | PositionCloseHour | 16 |
| Box size in hours | BoxSizeInHours | 4 |
| RSI adjustment (0-100) | RSIAdjustment | 60 |
| Cumulative RSI | CumulativeRSI | true |
| Random start trading | RandomHour | false |
| Override file | OverrideFile | override.ini |
| Forecast file | ForecastFile | forecast.ini |
* Other language packages are available upon request.
** If you're unable to directly access the file system of your VPS, our VPSToolkit is available free of charge to move the files to the appropriate location for you.
*** If you're looking to adjust default settings via an external file, note that MQL5 Market products can't automatically apply these to the Strategy Tester. Our team is here to help you find a secure, effective solution.
User didn't leave any comment to the rating