Patient Monarch
- Experts
- Version: 2.10
- Activations: 5
PATIENT MONARCH EA v2.10 — Smart Grid Trading with Multi-Layer Protection
by Jasper Clark Lagasca
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OVERVIEW
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Patient Monarch is a fully automated grid Expert Advisor that uses a proprietary mean-reversion entry system combined with 10 built-in drawdown protection layers. Unlike aggressive grid EAs that blow accounts, Patient Monarch is designed with patience at its core — it waits for high-probability conditions before entering, and protects your capital at every step.
The EA uses internally calculated indicators with no external dependencies. All signal logic is computed from raw price data, making it fast, lightweight, and immune to indicator loading issues.
"Patience is power." — The Monarch does not chase the market. It waits, it enters, it protects.
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KEY FEATURES
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▸ Smart Entry System — Proprietary algorithm identifies high-probability reversal zones. Entries are filtered through multiple confirmation layers before any trade is placed.
▸ 10 Drawdown Protection Layers:
1. Dynamic Grid Spacing — Grid levels widen automatically at deeper levels to reduce exposure.
2. Trailing Take Profit — Locks in extra profit when the basket moves in your favor.
3. RSI Confirmation Filter — Prevents entries in unfavorable momentum conditions.
4. Trend Alignment Filter — Avoids counter-trend entries using higher timeframe analysis.
5. Volatility Squeeze Filter — Pauses trading during low-volatility consolidation.
6. Spread Protection — Blocks entries when broker spreads are too wide.
7. Cooldown Timer — Prevents immediate re-entry after a basket closes.
8. Drawdown Reducer — Partial close and/or hedging when drawdown exceeds threshold.
9. Breakeven Lock — Moves individual positions to breakeven when in profit.
10. News Filter — Pauses trading before and after high-impact economic news via web request.
▸ Auto Lot Sizing — Automatically scales your lot size based on account balance. As your account grows, lot size increases proportionally. As it shrinks, lot size decreases to protect capital.
▸ Manual or Auto Lot Mode — Choose fixed lot for full control, or auto-scaling for hands-free operation.
▸ 3 Grid Scaling Modes — Linear, Multiplier, or Capped increment. Capped mode limits maximum lot exposure for safety.
▸ Weighted Average Take Profit — Calculates a single TP target for the entire basket based on volume-weighted average entry price. Closes all positions together for net profit.
▸ Real-Time News Filter — Fetches economic calendar data via WebRequest. Automatically pauses trading before high-impact news and optionally closes all positions before major events.
▸ Time & Day Filters — Full control over trading hours and active days.
▸ Max Drawdown Protection — Hard equity stop loss with optional close-all when drawdown limit is reached.
▸ Beautiful On-Chart Dashboard — Royal-themed panel showing all key information: balance, equity, drawdown bar, spread status, grid levels, basket P/L, news status, lot sizing info, and more.
▸ No External Indicators Required — All calculations are done internally. Just attach and go.
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RECOMMENDATIONS & SETTINGS
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▸ Minimum Balance:
• Standard Account: $1,000 USD minimum (recommended $2,000+)
• Cent Account: $10 USD (equivalent to 1,000 cents) minimum
• The higher your balance, the safer the grid can operate
▸ Account Type:
• HEDGING account required (the EA opens multiple positions on the same symbol)
• ECN or Raw Spread broker recommended for tighter spreads
▸ Recommended Timeframes:
• M5 — Best balance of signal frequency and accuracy (PRIMARY)
• M15 — Slightly fewer entries, smoother performance
• M30 — Conservative, higher quality entries
▸ Recommended Pairs:
• EURUSD — Primary recommended pair, excellent liquidity
• GBPUSD — Good volatility and spread conditions
• AUDCAD — Smooth ranging behavior, ideal for grid strategies
• EURGBP — Low volatility range pair, very stable
• USDCAD — Consistent grid performance
• NZDUSD — Clean mean-reversion characteristics
• Any major or minor pair
▸ Pairs to AVOID:
• Exotic pairs (high spreads destroy grid profitability)
• XAUUSD on daily timeframe (volatility too extreme for default settings)
▸ Recommended Default Settings:
• Lot Sizing: Auto (1% for conservative, 2% for moderate)
• Grid Distance: 5-10 pips (adjust based on pair volatility)
• Max Grid Levels: 8-12 (lower = safer, higher = more recovery potential)
• Take Profit: 5-10 pips
• Max Drawdown: 15-20%
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SETUP INSTRUCTIONS
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1. Attach the EA to your preferred chart and timeframe.
2. If using the News Filter, add the news API URL to:
Tools → Options → Expert Advisors → Allow WebRequest for listed URL
3. Make sure your account is HEDGING type (check with your broker).
4. Start with a demo account to familiarize yourself with the settings.
5. Use default settings as a starting point, then optimize for your pair.
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RISK DISCLAIMER
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Trading forex involves substantial risk. Grid strategies carry the risk of significant drawdown during strong trending markets. Past backtest performance does not guarantee future results. Always trade with money you can afford to lose. Start on a demo account before going live. The developer is not responsible for any trading losses.
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SUPPORT
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▸ Message me directly on MQL5 for setup assistance.
▸ Leave a review after testing — your feedback helps improve the EA.
▸ Updates are free for all buyers.
© 2024-2026 Jasper Clark Lagasca. All rights reserved.
