MITO Manhattan
- Experts
- Version: 1.0
- Activations: 5
MITO Manhattan
MITO Manhattan is an Expert Advisor for MetaTrader 5 that trades two American stock indices: the S&P 500 and the Nasdaq 100. It combines two independent parts. The first part trades during the day and closes all its positions before the end of the American session. The second part keeps positions for a few days and follows the main trend. Position size is calculated from market volatility, so that the risk taken by the account stays similar in calm and in busy markets.
How it works
- Intraday part: after the American session opens, the Expert Advisor measures how much the index usually moves at each time of the day. It opens a position only when the price moves clearly beyond this usual range.
- The intraday part does not keep positions overnight. All its positions are closed before the American session closes.
- The stop loss follows the price during the day. If the price does not move in the expected direction within a set time, the position is closed.
- No new positions are opened after unusual sessions or after days that already moved strongly in the same direction.
- Daily part: positions are held for a few days, only in the direction of the main trend. They are closed when the target is reached or after a maximum number of days.
- Position size is smaller when the market is volatile and larger when it is calm, always within a maximum leverage that you set.
Account protection
- Every position has a stop loss placed on the broker's server.
- Equity stop: if the account falls below its highest value by the percentage you set, the Expert Advisor closes all positions and pauses.
- Optional daily loss limit.
- Checks on spread and overnight costs, and a free margin check before every order.
- The Expert Advisor does not use martingale, grid or averaging.
Backtest results (simulated, not real trading)
The figures below come from a historical simulation in the MetaTrader 5 Strategy Tester. They are not results of real trading and they do not indicate future results.
Period: January 2016 to October 2026. Symbols: S&P 500 and Nasdaq 100. Starting deposit: 500 euro. Leverage: 1:500. History quality: 99%. Standard account, spread and swap included. Position size proportional to the account balance.
- Profit factor: 1.49
- Number of trades: 2,534
- Winning trades: 46.3%
- Average win compared with average loss: 1.73
- Maximum drawdown: 19.3%
- Years closed with a profit: 11 out of 11
Requirements
- MetaTrader 5 with a hedging account. On netting accounts the daily part is switched off automatically and only the intraday part runs.
- A broker that offers the S&P 500 and Nasdaq 100 indices.
- Recommended deposit: from 500 euro.
- A computer or virtual server that stays online during trading hours.
Installation
1. Open one chart, for example US500. Any timeframe can be used.
2. Attach the Expert Advisor to the chart and allow algorithmic trading.
3. In the Symbols input, enter the index names used by your broker, for example US500,NAS100 or SPX500,USTEC.
4. Set the session times in your broker's server time. SessionOpen is 09:30 New York time and SessionClose is 16:00 New York time. The default values, 16:30 and 23:00, are correct for brokers whose server time is GMT+2 in winter and GMT+3 in summer.
Main inputs
- TargetDailyVolPct and MaxLeverage: daily risk target and maximum exposure.
- MaxPositions: maximum number of intraday positions.
- EquityStopPct, PauseDaysAfterStop and DailyLossLimitPct: account protection.
- UseDailyModule and DailyModuleWeight: switch on the daily part and set its size.
- Symbols, SessionOpen and SessionClose: broker symbols and session times.
Please test the Expert Advisor in the Strategy Tester and on a demo account with your broker's conditions before using it on a live account.
Risk warning
Trading leveraged products such as indices carries a high risk of loss, which can exceed your deposit. The results shown are simulated and do not guarantee future results. Spread, slippage and broker conditions can change the results on a live account. MITO Manhattan is a software tool and is not financial advice.
