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Edgeweasel FTMO

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.


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Virajalong
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Virajalong 2024.04.10 11:49 
 

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Version 1.18 2024.04.16
Some minor improvements on the business logic.
Version 1.17 2024.03.24
Minor changes on panel and added clock
Version 1.16 2024.03.17
Changing the logic when the target is reached
Version 1.15 2024.03.17
Enhanced performance, improved risk management logic