Ilanis Free

This is the free version of the Ilanis EA. The robot opens only buy trades. This allows to fully evaluate the operability of the EA, the systems of money management and position control. Can be used for trading on real accounts. But the performance of the full version is greater.

The Ilanis EA was published in the "Market" on June 5, 2014. The free version has been added by the popular demand of the customers to provide a possibility of real testing.

• The full version of the Expert Advisor: https://www.mql5.com/en/market/product/4290;
• Ilanis EA monitoring: https://www.mql5.com/en/signals/author/fastinvestments

Ilanis Free is and Expert Advisor for exchange trading, it can be used for trading on Forex and other markets, including commodities, metals and index markets.

The EA uses the modern and ultra-light adaptive indicator FourAverage for determining market entry points.

Principle of position maintaining is similar to that of the popular Forex robot Ilan, using averaging. But unlike Ilan, Ilanis uses an accurate entry into the market. The robot pays attention to position control, if the price goes in the unexpected direction. For this purpose, the EA uses lot increase based on Martingale (ExpLot coefficient can be set in the settings, usually from 1.1 to 1.8).

Trading is based on the idea that 80% of time the market is moving in a flat. Long trends can be dangerous for the Expert Advisor, but they are rare. Some extraordinary events, like war, economic collapse, etc., can cause such trends. Information about these events can be found on news sites. It is advisable to turn off the EA in such cases. If this fails, through a flexible system of money management the robot is able in most cases to bring the combined position (even those open against the trend) to profit, the amount of which may considerably exceed the initially planned one. Although risks are higher in this case.

The main rule when working with Ilanis: do not be greedy, do not increase the lot, use the settings obtained after a proper optimization. Do not forget to optimize parameters for the current market from time to time.

• The Expert Advisor is configured to work on EURUSD, M15
• Instructions on how to optimize the EA to work with any symbols

• Works with all dealing centers that use the MetaTrader 4 trading platform.
• Works with both "Instant Execution" and "Market Execution" brokers.
• Automatically determines the number of digits in quotes and works with quotes that have any number of decimal places.
• Resistant to a temporary loss of connection or a short-term computer shutdown. After starting the computer, the Expert Advisor will pick up its orders and continue trading steadily.
• Always works only with its own orders even if you have decided to trade manually in parallel.

Trading Conditions

• Trading terminal: MetaTrader 4.
• Dealing center: any dealing center that supports working with MetaTrader 4.
• Currency pair: any.
• Time frame: no restriction.
• Minimum lot: 0.01.
• Leverage: 1:100 or higher.

Settings

---=SETTING BUY=---

• PeriodFA1 - FourAverage indicator period
• Average1_1 - FourAverage ratio (0 - 200)

• ExpLot - Lot volume multiplier for further orders in the series.
• StLot - The lot value of the first order. If the value is positive, it is used as a fixed lot (Example: Lot = 0.01, the trade of 0.01 lot will be opened). If the value is negative, the EA will open 0.01 lot per each specified amount on the deposit (Example: Lot = -100, $500 available on the account, the trade will be opened with the size of 0.05 lots).
• StopIlanis - Disables opening of new series, the current one will be continued.
• WindowHour_ - Beginning of the period to lock opening of new positions (if WindowHour_ = 10 and _WindowHour = 15, no new trades will be opened in the time interval between 10:00 and 16:00).
• _WindowHour - End of the period to lock opening of new positions (if WindowHour_ = -1 and _WindowHour = 15, no new trades will be opened from the beginning of the day till 16:00).
• TDW_TradeFalse - Positive values mean the day of the week when the EA will not open trades (if TDW_TradeFalse = 5, no new positions will be opened on Friday, the EA will still close positions).

• MaxSpread - If the current spread is greater than this value, the trade will not be opened.
• MagicNumber - Beginning of the range of magic numbers occupied by the Expert Advisor. The EA occupies 50 numbers.
• Slippage - allowed slippage.

---=SETTING REPORTS=---

See the description of the module