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EA Golden Dragon

This is a classical trading strategy, which falls into the category of breakout systems. They form support and resistance levels, which temporarily limit further price movement. When the price breaks down the support level or breaks up the resistance level, there emerges a strong momentum in the breakout direction, which allows to make profit on strong price movements with moderate risk.

To create the strategy, we used historical data with the quality of history of 99.9%.

It uses filtration of false signals.

Uses an adaptive trailing stop.

Uses a tight stop loss and is therefore protected from large drawdonws, uses a small risk per trade.

The EA includes an information slippage panel.


Monitoring

https://www.mql5.com/en/signals/author/profi_mql

The EA works on any currency pair and timeframe.

Recommended pair/TF are EURUSD M30.


Requirements and Recommendations

  1. Low spread and high-quality execution are important when choosing a broker.
  2. Use VPS or hosting server with minimal network latency to the broker's server.


Parameters

  • Magic — trade ID.
  • Order Comment— comments to orders.
  • Slippage — Allowable slippage before an order triggers.
  • Max Spread — Maximum Spread allowed before pending order triggers.
  • ticks average spread — collecting average spread ticks.
  • ticks for deleting pending orders — collecting average spread ticks to delete pending orders if the average spread exceeds Max_Spread.
  • Order Type — select trade direction.
  • disable trade if spread high — disabling trading for some time (from 5 minutes to 24 hours), if the average spread exceeds Max_Spread.
  • Fixed_Lot — fixed lot value (if Use_Risk_MM - false).
  • Use_Risk_MM — when true, lot size increases when the account balance grows(risk management).
  • Percentage_Risk — lot value increase based on the balance (risk management as %).
  • Take_Profit — in points.
  • Stop_Loss — in points.
  • Breakeven_Target_PipsInp — breakeven triggers if the price exceeds this value. (-1 = off).
  • Breakeven_Jump_PipsInp — Stop Loss is moved using this value to breakeven.
  • Trailing_Stop — trailing points when position is in profit. (-1 = off, 0 = Stop_Loss ).
  • Trailing_Step — trailing step when the position is in profit.
  • Risk_Protection_on_slippages — when true the EA applies position closure in case of a slippage.
  • Adaptive_Trailing_to_slippages — if true - adaptive trailing stop.
  • Change_correction_coefficient — trailing sensitivity factor.
  • Adaptive_by_Time — time adaptive Trailing Stop.
  • Time_Scale — time interval for price analysis.

Trading on the days of the week:

  • Monday — when true trade on Monday.
  • Tuesday — when true trade on Tuesday.
  • Wednesday — when true trade on Wednesday.
  • Thursday — when true trade on Thursday.
  • Friday — when true trade on Friday.

Trading time within the day:

  • Use time — when true trade in the specified time.
  • Time_Setting — server time or local PC time.
  • GMT_mode — defining broker's time shift relative to GMT. (0 - not used).
  • Every_Day_Start — operation start time (hh:mm).
  • Every_Day_End — operation end time (hh:mm).

Friday close time:

  • Use time — If true, trades at a certain time.
  • Time_Setting — server time or local PC time.
  • GMT_mode — defining broker's time shift relative to GMT. (0 - not used).
  • Disable_in_Friday — operation end time on Friday (hh:mm).
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