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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:

Setting
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:
  • Moving Averages
  • iTC_iMA
  • Floating RSI
  • Gann High Low Activator
  • Supertrend
  • Turbo JRSX
  • MACD Divergence
  • Breakout Window

 More signal indicators might be added in the future.

 Reverse
 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:
  • Absolute Strength Market
  • Trinity Impulse
  • MACD Divergence
  • Spearman Rank Correlation
  • Aroon Oscillator
  • Supertrend
 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
 Lot
 Applies only for fixed lot money management
 Risk
 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.
 Multiplicator
 Attention: Set to 1
  to disable

 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
  • Trade 1 with a volume of 0.01 lost, volume for next trade gets multiplied by 2
  • Trade 2 with a volume of 0.02 lost, volume for next trade gets multiplied by 2
  • Trade 3 with a volume of 0.04 won, volume for next trade gets resetted to 0.01
  • Trade 4 has a volume of 0.01, and so on
 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
  • EA enters first trade with a Take Profit of 20
  • As the trade is in loss, the volume gets increased and the Take Profit is changed to 3
  With this setting, it is possible to quickly exit trades in profit when the EA had to increase lot size.
 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
  • EA enters opening buy trade according to your chosen signals with a Take Profit of 20
  • The price drops - your current loss is 120 pips
  • The price rises and a buy signal occurs, your current loss is 105 pips
  • As current loss > reentrylevel, the EA increases lot amount by that much
  • That current loss of the new position equals the PipGap (current loss after increasing volume = PipGap)
  • The new trade gets a Take Profit of 5
 With this setting you will greatly impact the risk & profits of your strategy. A smaller value will increase potential profits but also increase your risk.
 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.
No reviews
Version 2.13 - 2014.02.24
Trailing Stop can now be used with values of the Parabolic SAR indicator.

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.
Version 2.12 - 2014.01.16
Minor bug fix.
Version 2.11 - 2013.12.26
Little bug fix that caused wrong direction trades when using martingale.
Version 2.1 - 2013.12.23
- Trinity impulse is now also available as entry signal.
- Ability to change Magic Number.