Monkey Business EA v2
Monkey Business Expert Advisor - No Monkey Business - Guaranteed
This Expert Advisor gives you the tools to successfully earn money in the Forex Market. You can choose between multiple indicators to enter and exit the market, filter bad market states or confirm the signals of your main indicator in a higher time frame. You can simply attach the EA with default settings to your chart or create your own system with normal entries and exits, use a staking plan or choose dynamic martingale. You will easily be able to set the EA up to reflect your own risk aversion.
Please see the detailed settings description below to comprehend the full potential of the EA.
For optimization results and setting files for different brokers and timeframes, please visit my blog.
Customers can also always ask me for different indicators or entry & filter rules to add to the product. I will add them for free if possible.
This is not a hocus-pocus tickdata EA that requires you to have an ultra speed VPS Server and creates billions of dollars profit in backtesting. Every calculation is solely based on closed candle OHLC values. That's why the EA only trades on closed candle and testing can be done with OHLC. You can optimize with Custom Max which will show you the maximum relative equity drawdown or your chosen parameter in the results table.
Detailed settings description:
| Custom Max
|| Choose the parameter to be optimized while backtesting. Detailed description of the different settings can be found at Testing Statistics
| Entry Signal
|| Choose entry signal of one of the following indicators:
More signal indicators might be added in the future.
|| Reverse Signals
| Exit Signal
|| Choose signal to exit trades
| Filter Signal
|| Choose an indicator to filter out bad market states and confirm your entry signal:
| Filter Timeframe
|| Choose timeframe that applies on the filter indicator
| Candle Size Filter
|| This setting allows you to avoid signals that occur directly after big news. If set to 30, a signal occuring directly after a candle that is bigger
than 30 pips will be ignored.
Set to 0 to turn the filter off.
| Use Automatic MM
|| Toggle between automatic and fixed money management
|| Applies only for fixed lot money management
|| Applies only for automatic MM.
The parameter determines the lot to be traded per 100 currency units in your balance.
E.g., if set to 0.1, and you have 500USD in balance, lot will be 0.5.
| Max Lot
|| Limits the volume to trade with - this setting is always active
| Stop Loss
|| Determine Stop Loss - Set to 0 to not use
| Take Profit
|| Determine Take Profit - Set to 0 to not use
| Use Trailing SL
|| Toggle Trailing Stop Loss on or off
| Trailing Start
|| Trailing Stop Loss will be initiated when current trade is in profit by your chosen amount in pips.
Set to 0 start immediately - recommended.
| Staking Method
|| Choose between staking sequences. You can either reset the multiplicator after a win, or after a loss.
Attention: Set to 1
| When a trade has been closed in loss, the next trades volume will be multiplied by this amount, after a winning trade the series is resetted
Example: lot = 0.01, multiplicator = 2, staking_method = reset_after_win
| Use Martingale
|| Toggle Martingale on or off
| Martingale TP
|| This Take Profit is only used when the martingale increases lot size.
Example: Take Profit = 20, Martingale TP = 3
|Reentrylvl|| Reentry level determines the minimum amount in pips your current trade is in loss, when the EA is allowed to increase volume.
However, the EA will still wait for all signals to appear correctly. It will not blindly increase volume at this value.
|PipGap|| This is the most important variable for the martingale strategy in this EA.
The EA will dynamically increase lot by the necessary amount to reduce current loss of the open trade to match the PipGap.
Example: Take Profit = 20, Martingale TP = 5, Reentrylvl = 100, PipGap = 1
The smallest value allowed is 1.
|StartHour/EndHour|| Set a timeframe for the EA to trade. E.g., 7 to 13 o'clock
|Trade[Weekday]|| Restrict trading days
| Cancel on Timeout
|| When either the EndHour or a restricted trading weekday is reached, the current trade gets cancelled if set to true.
| Indicator Settings
|| Determine the settings for your chosen indicators.
Set Trailing_Start equal to 0 to place a Stop Loss immediately after opening of the trade.
Set Trailing_Start to higher than 0 to only start placing Stop losses when current trade is the specified number of pips in plus.
Old Trailing Stop is now called "Price Based".
Please note, that my price based Trailing stop will never close trades with a loss, while it will happen with Parabolic SAR as Stop loss values can lie under the opening price.
However, if you use it in combination with Martingale, Trailing Stop will only be activated, when SAR value yields a positive result.
You can change settings of Parabolic SAR as usual.
- Ability to change Magic Number.