Urban MT5 Free
The Urban MT5 Free Expert Advisor automatically searches for the entry points based on the standard Parabolic SAR and CCI indicators. In case of unsuccessful entry, the EA maintains deals using the Martingale strategy. Special attention in this EA has been paid to the logic of placing orders, therefore it is able to withstand prolonged trends.
Unlike the paid version, the free one works only in testing and optimization mode.
The default EA settings are for GBPUSD M5 with 5-digit quotes
The Expert Advisor automatically determines the number of decimal places in quotes and adjusts the TakeProfit, PipsStep and other parameters.
Optimization cab be performed by Control points.
The main parameters to be optimized are TakeProfit, PipsStep, UseInd1, RUseInd1, UseInd2, RUseInd2.
- UseRevers=true: Close profitable trade in case of a reverse signal
- UseBlock=true: If there is an opposite trend, the additional orders will not be opened until the trend weakens
- LotExponent: Coefficient for exponential multiplication of lots in the series for transferring to breakeven (optimize from 1.0 to 2.0 with any step)
- Risk: Determine the lot of the first order depending on the size of free margin. If Risk=1, the lot will be calculated as 0.01 lot per $1000 of free margin for 5-digit quotes and 0.1 lot per $1000 for 4-digit quotes
- TakeProfit: Take profit level from the opening price in points
- PipsStep: Distance of loss in points for opening the next order. Decreasing the PipStep increases the profitability and risk
- UseMaxPipsStep=true: Limit the maximum step when using the dynamic lot
- MaxPipsStep: Maximum allowed distance in points
- UseDynamicStep=true: Use dynamic step for opening the next order
- DynamicStep: Dynamic increase ratio of step between orders (optimize from 1 to 2 with any step).
- UseInd1=true: Use data of the Parabolic SAR to evaluate the trend
- RUseInd1=true: Use data of the Parabolic SAR to search for the reverse signal if UseRevers=true
- SARStep: Acceleration coefficient of the Parabolic SAR (Optimal parameters are close to standard)
- SARMaxStep: Maximum step of the Parabolic SAR (Optimal parameters are close to standard)
- UseInd2=true: Use data of the CCI to evaluate the trend
- RUseInd2=true: Use data of the CCI to search for the reverse signal if UseRevers=true
- CCIPeriod: Period of the CCI indicator
- CCIPrice: Applied price of the CCI (varies from 0 to 4 with step of 1)
- CCIMAPeriod: Period of the Moving Average, based on the CCI indicator
- CCIMAShift: Shift of the Moving Average, based on the CCI indicator
- CCIMAMethod: Averaging method of the Moving Average, based on the CCI indicator
- TFrame: Timeframe of the indicators. It is convenient to use for the evaluation of the EA on different timeframes. Important! Optimization period in the tester must be smaller than the periods tested in the TFrame parameters.
- UseTime=true: Limit operation time of the EA (uses server time)
- HourStart: EA operation start time
- HourEnd: EA operation end time
- Slippage: Allowed price slippage in points
- MaxTrades: Maximum number of opened orders
- MagicNumber: Individual number of the EA
Note! The EA should be disabled before the events that may bring high volatility into the market (such events are always widely covered by the media), as strong rise/fall in the instrument may result in loss of deposit.