TheVeerEA is a fully automated multicurrency trading system. This Expert Advisor tries to capture intraday short-term trends, which usually appear after high-impact news releases: significant decisions on monetary policy, political events, etc. Market entries are made after the EA determines that the price impulse is strong enough, assuming that the price will tend to continue the movement in the same direction for some time.
All orders are protected by precalculated stop loss levels. TheVeerEA implements multistage partial closure of positions based on the calculated virtual take profit value. The EA employs money management based on the free margin level, specified risk value and leverage. Martingale, averaging and other dangerous money management systems are not used.
The expert should be considered as a long-term investment. Even though it is able to open a relatively large amount of positions, it may also have days with no trading at all. It mainly works on trending markets, and it can easily get 2-3 months of stagnation and losses when the market is flat. It is recommended to thoroughly study the backtest results or to trade on a demo account in order to have realistic expectations before you decide to trade on a live account.
- Safe money management with the default risk values. Unprofitable trades are not overstayed, deep equity drawdowns do not occur.
- Trades at the opening of the bar. The EA is not a scalper and does not require tick history for testing.
- Stable results when testing on history data for the last 7 years.
- Does not have special requirements to order execution speed and broker connection delays. Does not require high-speed VPS. Will work on most brokers. However, a good ECN account with low spreads is recommended to achieve the best results.
- Supports multiple currency pairs with low correlation of results for better diversification of the portfolio.
- Works 24/5 - does not require constant monitoring.
- Built-in optimization for supported currency pairs. set files are not required.
- The EA can be attached to a single chart to trade all supported currency pairs.
- It is possible to adjust symbol names for brokers using non-standard names.
- Informative graphical panel for displaying the current and part trading results + ability to close all orders (for those, who dislike leaving positions open over the weekend).
- SymbolPrefix - if your broker add any prefix to instrument names (for example, m.EURUSD), specify it here.
- SymbolSuffix - if your broker add any suffix to instrument names (for example, EURUSD.f), specify it here.
- SymbolMapping - if your broker uses non-standard symbol names, specify them here in the following format: XAUUSD=GOLD;EURUSD=EURO, etc.
- OneChartSetup - if set to true (default), the EA should be attached to a single chart (EURUSD is recommended as the most liquid instrument). In this case, the EA will open trades on all supported symbols specified in the next parameter.
- TradeSymbols - list of all supported symbols for trading when OneChartSetup = true.
- Risk - parameter to calculate the lot size:
- 0.1 - conservative risk.
- 0.5 - moderate risk (default).
- 1.0 - high risk.
- >1.0 - extreme risk (it is highly recommended not to set the value above 1.0).
- FixLot - use fixed lot size, this has a higher priority than the Risk parameter.
- Magic - magic number to identify orders opened by the EA.
- MaxSpread - the maximum spread at which the EA is allowed to open new orders.
Supported symbols: EURUSD, GBPUSD, USDCHF, USDJPY, XAUUSD, AUDUSD, USDCAD, NZDUSD, EURGBP.
Supported period: M5.
Real account monitoring: https://www.mql5.com/en/signals/author/vmlv.