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Red Baron EA

Red Baron EA is a halfscalping Expert Advisor intended for EURUSD. It is also available for other major pairs. Recommended timeframe is M5. To find suitable trades, the EA uses an integrated indicator. It is supported by a trend, volatility, time and news filter. An integrated Safe Mode indicator monitors the open trade.


Recommendations

  • Trading Time: Open Trades in first 2 hours after the end of NY Forex trading session
  • Timeframe: M5
  • Pairs: EURUSD other pairs can be used after optimizing the parameters
  • Broker: It is recommended to use an ECN low-spread broker and a VPS
  • Trading days: Nights without (important) news during the trading time. I recommend you not to trade on Friday PM
  • Minimum Deposit: 100 USD
  • Minimum Leverage: 1:300
  • Risk: 10-30 low risk setting / 40-60 middle risk setting/ 70-90 high risk setting


Benefits

  • The EA is ideally suited to complement other EA
  • No martingale, no grid, no hedging
  • Equity protection by Stop Loss application
  • Suitable for large and small deposits


Inputs

  • Trading Hour Start = 23 - hour (broker time), in which the EA starts the trading period
  • Trading Minute Start = 0 - minute (broker time), in which the EA starts the trading period
  • Trading Hour End = 0 - hour (broker time), in which the EA ends the trading period
  • Trading Minute End = 59 - minute (broker time), in which the EA ends the trading period
  • Close Hour Start = 9 - hour (broker time), in which the EA starts the closing period
  • Close Minute Start = 0 - minutes (broker time), in which the EA starts the closing period
  • Close Hour End = 9 - hour (broker time), in which the EA ends the closing period
  • Close Minute End = 1 - minute (broker time), in which the EA ends the closing period
  • Allowed Spread = 15.0 - maximum allowed spread (in points) to open a trade
  • Allowed Slippage = 3.0 - maximum allowed slippage (in points) to open a trade
  • Use Money Management = false - false means trade with fixed Lotsize; true means trade with automatic LotSize via Risk setting
  • fixed Lotsize = 0.01 - if Use Money Management = false then trade with fixed Lotsize
  • Risk = 40.0 - percentage of free margin to trade – e.g. risk 40 means 0.04 lot per 100 USD free margin
  • max Lotsize = 90.0 - maximum allowed lot size to open trades
  • Periode Maintrend Filter = 7 - main trend filter period
  • Maintrend Filter = 70 - main trend filter value (Filter > value = there are no trades executed)
  • Periode Trend Filter = 25 - trend filter period
  • Trend Filter = 40 - trend filter value (Filter > value = there are no trades executed)
  • Periode Vola Filter = 10 - volatility filter period
  • Vola Filter = 70 - volatility filter value in points (Filter > value = there are no trades executed)
  • Periode Indicator = 20 - indicator period
  • Bandwidth Filter min = 30 - Bandwidth filter minimum value in Points (Filter < value = there are no trades executed)
  • Bandwidth Filter max = 350 - Bandwidth filter maximum value in Points (Filter > value = there are no trades executed)
  • Magic Number buy = 1 - magic number for buy trades
  • Magic Number sell = 2 - magic number for sell trades
  • Take Profit in Points = 50 - take profit in points
  • Stop Loss in Points = 160 - stop loss in points
  • MondayAM= true - if true, then trading on Monday AM is possible; if false, then will be no trades executed on Monday AM
  • MondayAMStartTime = 00:00 - start time trading period Monday AM
  • MondayAMEndTime =12:00 - end time trading period Monday AM
  • MondayPM = true - if true, then trading on Monday PM is possible; if false, then will be no trades executed on Monday PM
  • MondayPMStartTime = 12:00 - start time trading period Monday PM
  • MondayPMEndTime = 23:59 - end time trading period Monday PM

The settings for Tuesday, Wednesday and Thursday are identical

  • FridayAM = true - if true, then trading on Friday AM is possible; if false, then will be no trades executed on Friday AM
  • FridayAMStartTime = 00:00 - start time trading period Friday AM
  • FridayAMEndTime = 12:00 - end time trading period Friday AM
  • FridayPM = false - if true, then trading on Friday PM is possible; if false, then will be no trades executed on Friday PM
  • FridayPMStartTime = 12:00 - start time trading period Friday PM
  • FridayPMEndTime = 23:59 - end time trading period Friday PM
  • UseNewsFilter = true - if true, then news filter is active
  • CloseAfter_BeforeMins = false - if true, then already open trades are closed at time x-BeforeMins and new trades will not be opened until y-AfterMins; if false, then already open trades remain open at the time x-BeforeMins and (only) new trades will not be opened until y-AfterMins
  • SymbolsToCheck = EUR, GBP,USD - news relevant pairs can be set individually
  • UseHighImpact = true - if true, then High Impact News will be considered
  • HighBeforeMins = 120 - suspend the trading from x minutes before the High Impact News
  • HighAfterMins = 120 - suspend the trading until y minutes after the High Impact News
  • UseMediumImpact = true - if true, then Medium Impact News will be considered
  • MediumBeforeMins = 90 - suspend the trading from x minutes before the Medium Impact News
  • MediumAfterMins = 90- suspend the trading until y minutes after the Medium Impact News
  • UseLowImpact = false - if true, then Low Impact News will be considered
  • LowBeforeMins = 30 - suspend the trading from x minutes before the Low Impact News
  • LowAfterMins = 30- suspend the trading until y minutes after the Low Impact News

A live monitoring of the Red Baron EA can be found here: https://www.mql5.com/en/signals/author/xdeimosx

Please note: The performance of the backtest is a little distorted. In the results of the backtest are also included trades in nights with important news. It is likely that trading without important news improves the performance. Please compare with the live monitoring signals.

Have you any question, please do not hesitate to contact me.

Maxime Labelle
293
2017.02.05 14:33 
 

The spread during the 2 first hours after the NY session becomes too high on most brokers for this EA to be profitable.

The backtests shown do not take this into account.

This EA does not work.

Don't waste your money.

13881876520
28
2016.11.16 06:28   

作者你好,红爵为什么会在止损位和止盈位的中间位置止损,是哪里设置不对吗?

dimitris
484
2016.09.22 19:31 
 

Based on the backtesting and use in live accounts since its introduction to the market, it is definitely a 4 star EA. I am not giving 5 stars because I am using it for just a few months. I will update in the future.

Version 3.1 - 2017.01.13
1. Added Maintrendfilter
2. Added Bandwidthfilter
3. Added Newsfilter

To use Newsfilter, you have to add this url:

http://www.forexfactory.com/calendar.php?day=

and this url:

http://ec.forexprostools.com/

adresses in the setting of MT4.

Allow WebRequest for listed URL!

Helpful article: http://www.metatrader4.com/en/trading-platform/help/setup/setup_experts
Version 2.0 - 2016.08.18
1. Added function "Trading Day Setting". A feature where you can set on what day (divided in AM/PM) to trade.
2. Changed default settings.
Version 1.2 - 2016.06.21
Added Money Management function. A trading with fixed LotSize is now possible.
Version 1.1 - 2016.06.15
Improved adaptation of the Take Profit of open trades.