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Project 404

Project 404 is a multicurrency Expert Advisor based on the strategy of scalping during low-volatility trading hours, usually in the Asian trading session. Risk per trade is 4-5%, no martingale or grid. The EA always sets stop losses from 35 to 78 points depending on the currency pair. Trade principle: working inside a channel based on the Bollinger Bands indicator.

The live trading results can be found below. Trading is performed simultaneously on 8 currency pairs (AUDCAD, EURAUD, EURCHF, EURGBP, GBPAUD, CBPCAD, GBPCHF, GBPUSD). Settings for each currency pair are applied automatically after attaching the EA to a M15 chart of each currency pair.

The minimum recommended deposit is only $300. This is the deposit size used in testing, their results can be seen in the screenshots or obtained from testing.

Monitoring of a real PAMM account: https://www.mql5.com/en/signals/366317 - please note that another expert had been sometimes working on this account, which was not successful and made a large drawdown in early February 2018 and is now excluded from the trade.

Also, there is a monitoring of the account, which runs Project 404 exclusively. You can monitor it here: http://www.mql5.com/en/signals/393359

Parameters of the Expert Advisor: (all parameters are adapted for both 4 and 5-digit quotes)

Main Settings

  • Custom setting - if true, only the manually set parameters are used; if false (default), uses built-in parameters depending on one of the eight instruments
  • SL - stop loss level
  • TP - take profit level
  • Lots - traded lot size
  • Auto MM - automatic lot size, percentage of losses when reaching stop loss
  • Magic - identifier of orders
  • Slippage - slippage
  • Settings of the Bollinger Bands indicator
    • Period - period of the Bollinger Bands indicator
    • Deviation - deviation of the Bollinger Bands indicator
    • Delta Enter - offset from the channel boundaries for entering a trade
    • Min Delta - the minimum channel width for trading
  • Limitations on exiting trades
    • Max spread for close - the maximum spread for closing (only for the sell orders)
    • Skip the spread to close if pips more - ignore the spread when closing sell orders, if the profit is greater than the specified number of points
  • Limitations on entering trades
    • Max spread - the maximum spread for opening a trade (only for the buy orders)
    • Dayly range maximum - the maximum price movement range during the day, starting from Open
    • Size GAP - size of the gap between candles to prohibit opening trades
    • Bar count to find GAP - the number of bars to looks for gaps
    • Pause after loss - pause after an unprofitable trade
    • Size loss - size of an unprofitable trade for pausing
    • Use direction - use pause only for the trades in the direction of the unprofitable one
  • Exiting trades by time
    • Exit minutes - the number of minutes for exiting (0 - disabled)
    • Profit - the number of points for exiting
  • Exiting at a reverse crossing of the channel
    • Need exit? - use this exiting method
    • Distance - distance of the intersection for exiting, in points
    • Profit - profit for exiting, in points
  • Exit when MA changes direction
    • Time frame - Time frame MA (0 - disabled)
    • Type MA - MA type
    • Price MA - MA price
    • Period MA - МА period
    • Profit - profit for exiting
  • Morning closure
    • Morning close - after the start hour till the end hour: 0 - disabled, 1 - move to breakeven, 2 - force close in any case, 3 - close only profitable
    • Start hour - start hour
    • End hour - end hour
  • Trading time settings
    • GMT Offset - time zone, default is 2, suitable for most brokers
    • Trade all days in the same time - trade at the same time on all days of the week (the Monday time is used)
    • SkipDay - day to exclude (number of the day of the week)
    • [Name day of the week] Enabled(for example, MONDAY Enabled) - day for trading
    • Hour begin - start hour
    • Minute begin - start minute
    • Hour end - end hour
    • Minute end - end minute
  • Trade in rollover
    • Open orders in rollover - open orders during the rollover
    • Close orders in rollover - close orders during the rollover
    • Rollover begin - rollover start time
    • Rollover end - rollover end time
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