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  • Reviews (17)
  • Comments (89)
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Project 42 Free

Project 42 – breakout of the trend lines and significant price levels indicates the appearance of participants with distinct preference towards buying or selling on the market. At such moments, the breakout strategies generate a trade signal and help in entering the market in the direction of large volumes. And then a part of the new trend's profit can be certainly taken. These are the standard trading systems tested by trading on any instruments over dozens of years. The main idea – if the price has been in a range for a long time, then there will certainly be a moment of powerful market decision and a breakout in a certain direction is to take place.

Breakout trading systems are considered to be the simplest, but their efficiency usually does not exceed standard statistics. The accuracy of determining the support/resistance levels is of utmost importance for them, as well as the filtering of so-called "false" breakouts. In order to catch a moment of a valid breakout, it is necessary to see the actual trend clearly, and preferably – on multiple timeframes. This is why breakout strategies are especially profitable when working on instruments with medium volatility.

When there is a support level breakdown or a resistance level breakout, a strong movement impulse occurs in the direction of the breakthrough, which allows you to make profit from the powerful movements of the price with a small risk. Support and resistance levels are formed on any timeframes.

The EA operation algorithm is quite complex, as it evaluates all breakout factors and uses them as the basis for making decisions on opening the corresponding deals.

Free version limitations: The minimum fixed lot of 0.01 is used.

The EA is optimized to run on EURUSD M30 and GBPUSD M30.

The full EA version: https://www.mql5.com/en/market/product/19396

Signals: https://www.mql5.com/en/signals/author/program_trader


Requirements and recommendations

  1. The EA has been optimized for EURUSD M30 and GBPUSD M30.
  2. It is recommended to use an ECN-broker with a low spread and VPS.
  3. Use only five-digit accounts.
  4. Small spread significantly increases the EA's efficiency.


Settings

  • Trade Buy/Sell select trading direction.
  • Magic trades' ID.
  • Trade Comment order comment.
  • Slippage allowable slippage before a pending order triggers.
  • Take_Profit take profit in points.
  • Stop_Loss stop loss in points.
  • Stop trade delete pending orders if a spread exceeds Maximum Spread.
  • Maximum Spread maximum spread allowed before a pending order triggers.
  • Fixed Lot fixed lot if Fixed Lot > 0.
  • Risk Money Management ММ risk if Fixed Lot = 0.
  • Adaptive trading stop trailing adaptation.
  • Trailing_Stop trailing stop (-1 disable, 0 use stop loss).
  • Breakeven stop if the price exceeds the value, a breakeven triggers (-1 disable).
  • Breakeven_Step stop loss is moved to a breakeven by a specified value.
  • Protection_from_losses forced position closing.
  • Use time if true, trading is performed at a certain time.
  • GMT_mode GMT offset of the broker server time (0 disable).
  • Start time operation start time (h:m).
  • Stop time operation end time (h:m).
  • Trade Monday if true, the EA is allowed to trade on Monday.
  • Trade Tuesday if true, the EA is allowed to trade on Tuesday.
  • Trade Wednesday if true, the EA is allowed to trade on Wednesday.
  • Trade Thursday if true, the EA is allowed to trade on Thursday.
  • Trade Friday if true, the EA is allowed to trade on Friday.
  • Stop Friday operation end time on Friday (h:m).
  • GMT_mode GMT offset of the broker server time (0 disable).
  • Stop Friday operation end time on Friday (h:m).
Rose Garcia
57
2017.02.25 19:48 
 

Hello

I've been using Project 42 Free for 4 weeks with broker pepperstone ECN, VPS server.

Good results, great support, free I admire the work of this developer!

Thanks.

Valeriy Belozertsev
285
2017.02.20 10:17 
 

Ранние версии еще как-то работали, последние льют безбожно.

Yassine Hassanain
171
2017.02.19 13:29 
 

User didn't leave any comment to the rating

Maksym Mudrakov
9725
2017.02.09 08:25 
 

User didn't leave any comment to the rating

Eleni Anna Branou
3617
2017.02.07 19:06 
 

User didn't leave any comment to the rating

asaens15
1041
2017.01.23 05:32 
 

Mediocre performance on my system. Noticed new version but nothing really new just fewer restrictions but I suppose logic is the same so not even worth my time to update ... test results will remain similar with same logic. People are gradually learning back tests from strategy tester are next to worthless. Appreciate the free version to test but needs more work for me to spend any amount of money on it.

Update: I originally tried with my regular broker and then after recent update I decided to try with IC Markets but had no measurable improvement in performance ... still mediocre ... actually more negative trades than positive ... I wouldn't pay $4 dollars for this much less $4000.

Іван Яків
62
2017.01.22 16:07 
 

Хороший советник!

John Keat
46
2017.01.05 13:18 
 

Very good job, has great potential.

I have been using this for a couple of weeks and found it very profitable.

Emma Madison
166
2016.12.30 10:01 
 

This EA works great if you run it under the right conditions. Like every scalper it requires a fast order execution and a low spread. Just make sure you have such trading conditions and you will be happy.

Petr Prohorow
486
2016.12.27 17:57 
 

Странный бот.Открывает отложки и тут же закрывает.Хотя нет,одну сделку в минус закрыл.Хотя оптиизировал,на реале пока в холостую брыкается.

Зоя Орлова
73
2016.12.25 16:27 
 

Всем привет !

Эксперт хорошо себя показал у моего брокера на реале, за прошедшую неделю, очень xотела бы его арендовать !

Автор сделайте пожалуйста по дешевле аренду на полную версию эксперта, я буду очень признательна !

Зарание спасибо.

Gennadiy Voltornist
4464
2016.12.24 11:01 
 

User didn't leave any comment to the rating

Log an
46
2016.12.20 12:46 
 

Great results on live! almost 90% win is true.

I buy arent.

Алексей Ефимов
130
2016.12.17 13:16 
 

За прошедшею неделю на реале работает стабильно. На пробу поставил на пару eur/usd, m30 в результате я в плюсе.

Использую брокера Pepperstone, Icmarkets.

MaxPips Max
764
2016.12.14 18:38 
 

no comment

Frank B
756
2016.12.14 17:54 
 

Thanks for the free version, but first trades on 3 different real accounts are not profitable. More losses than wins

forexcue.com
741
2016.12.14 11:30 
 

YE$ I want to beleive that turning $1,000 into 2 millions in 2 years is possible, but reality check, so far, all back test with different setup using EURUSD M30 keep losing... Please Ramil, post a valuable .set file and everyone will buy this 2 millions maker.

Version 1.59 - 2017.02.14
Improved adaptive position closing function.
Version 1.57 - 2017.01.13
Fixed modification of positions.
Version 1.56 - 2016.12.19
Works without limitations in the Strategy Tester.
On Demo and Real accounts uses a limit on lot value 0.01 or your broker's minimum lot.