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Project IG MT4

1.78

The EA is not a scalper.

The EA uses a strategy based on the breakdown of local support and resistance levels, also uses the reverse and rebound from support and resistance levels. 

The EA is based on the original author's strategy.

Detailed description of the strategy here:  https://www.mql5.com/ru/blogs/post/728430

This is a link for general discussion of the EA: https://www.mql5.com/ru/blogs/post/728430

Hidden Take profit, Breakeven and Trailing stop are used.

The EA uses only the M5 timeframe and trades on most of the major pairs.

For EA to work properly, follow the Minimum balance and leverage requirements.

Requirements and recommendations

  • The EA is attached to only one chart (any of the working pairs) - all trading on all pairs is carried out from only one chart! In the settings you can enable and disable currencies.
  • The recommended minimum balance (when used on recommended pairs and timeframes) is $ 3000 or $ 30 on a cent account.
    1. Leverage from 1:500 and more.
    2. Safe trading requires a minimum lot of 0.01. Check your broker to support a minimum lot of 0.01.
    3. Do not interfere with the work of the EA, and do not close the order manually.
    4. Use a separate account for the EA. (Do not use multiple advisors for one account).
    5. Broker Broker with five-digit and three-digit quotes.
    6. EA requires a standard VPS server.
    7. EA requires RAM: 500 MB.
    8. The EA does not work on the account: "JPY","RUB".
    9. Download Set Files.

    The robot does not require all ticks in history. For quick test, use:

    • Tick simulation methods:
      • Control points (based on the nearest less time frame).
      Pairs and timeframe

      1. EURUSD / M5.
      2. GBPUSD / M5.
      3. GBPJPY / M5.
      4. USDCHF / M5.
      5. USDJPY / M5.
      6. AUDUSD / M5.
      7. GBPAUD / M5.
      8. USDCAD / M5.
      9. GBPCAD / M5.
      10. EURAUD / M5.
      11. EURCAD / M5.
      12. EURGBP / M5.
      13. EURJPY / M5.
      14. GBPCHF / M5.
      15. NZDUSD / M5.
      16. GBPNZD / M5.
      17. EURCHF / M5.
      18. NZDJPY / M5.
      19. CHFJPY / M5.
      20. CADJPY / M5.
      21. EURNZD / M5.


        Parameters

        • EURUSD - if true, use EURUSD;
        • ...
        • EURNZD - if true, use EURNZD;
        • Magic_Start - ID of EA's trades.
        • Magic_Finish - ID of EA's trades.
        • Symbols_Prefix(Suffix)_Name - enter the prefix (suffix) ONLY if the name of the symbols uses a suffix (for example: "m."(".m") if the symbol name is "m.EURUSD"("EURUSD.m"));
        • Custom_Risk - if true, the lot size increases when account balance grows (risk management);
          • User_Balance - user-defined balance;
          • Add_to_User_Balance % - Add to User_Balance for a smooth transition to a new lot.
          • Lot on every - lot size per User_Balance;
          • Fixed_Lot - fixed lot (if Custom_Risk is false);
          • Order Type - trading direction;
          • Order Comment - comments to orders;
          • Slippage - allowed slippage before an order is triggered;
          • Show_Info_Panel - use the information panel (false - faster backtest);
          • Show_additional_panel - use the info panel for profit indicator per each month, for backtest only;
          • Max Spread - maximum allowed spread;

            Trading within the week:

            • Monday - trade on Monday;
            • ...
            • Friday - trade on Friday.

              Time trading within a day:

              • Use time - if true, the EA trades by time;
              • GMT Mode - manual setting;
              • GMT_mode - GMT offset of the broker server time (0 - disabled);
              • Every_Day_Start - operation start time (hh:mm);
              • Every_Day_End - operation end time (hh:mm).

              Time to disable on Friday:

              • Use time - if true, the EA trades by time;
              • Disable_in_Friday - operation end time on Friday (hh:mm).




            Reviews 12
            Andre Gomes
            2045
            Andre Gomes 2019.08.02 16:31 
             

            Backtesting results seems very promising. Author has a signal to follow the EA. I will update my review once I have more experience using the EA.

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            Filter:
            Aravind Kolanupaka
            8275
            Aravind Kolanupaka 2021.03.13 23:55 
             

            User didn't leave any comment to the rating

            PeterSwaby
            1484
            PeterSwaby 2020.07.02 13:55 
             

            This is junk and at some point it will wipe your account.

            kbit0928
            287
            kbit0928 2020.03.30 04:46 
             

            User didn't leave any comment to the rating

            ibdejesus
            196
            ibdejesus 2019.10.16 23:53 
             

            Trade management is flawed.

            GERALDO FERREIRA MESQUITA
            676
            GERALDO FERREIRA MESQUITA 2019.10.06 06:02 
             

            04/10/19 - The idea was good but, it completely blew up my account!!!

            28/10/19 - Update: 3 star for the EA strategy. Now I will running this EA with less pairs (10)small spread and running only when I m at home (to monitoring all orders).

            markspeed
            19
            markspeed 2019.10.04 20:41 
             

            The authIor is fantastically helpful with installation, but unfortunately the EA has a very destructive fault. The strategy looked a bit 'lumpy' in its returns in the first three weeks. In September it delivered a decent and steady return. Unfortunately, from 30th September to 4th October it completely blew up my account. It took a couple of massive trades (200x the lot size), which lost, then a trade that was 550x the lot size, which again lost. Boom - most of the account gone.

            Yaddehi Arachchilage darshana Gayan Ranasinghe
            947
             

            piece of shit. give our money back.

            zhangke888
            46
            zhangke888 2019.10.03 10:35 
             

            I have manually ended the loss and closed EA. The strategy is too risky. I hope the author can update and improve it quickly.

            Johannes Katzer
            1471
            Johannes Katzer 2019.10.03 10:13 
             

            The author lost at least two accounts already after only a few weeks of live trading. The traded risk is insane for a decent account and there is no stop loss function of any kind. The strategy itself seems good and has potential, but at some point one has to stop and start a new basket instead of risking all your money for revenge of your losses. I am pretty sure that the strategy can be profitable even with a (global) stop loss or lotsize limits, but until the author updates this EA I cannot recommend it.

            Yusuke Nakanishi
            579
            Yusuke Nakanishi 2019.09.22 18:10 
             

            The support of the author is very helpful, but unfortunately it cannot be used in "JPY" account. If the specification is modified, the evaluation will change.

            update:

            It doesn’t depend on the currency of the account. There seems to be a problem with fund management.

            Eric Sylvain Lepage
            486
            Eric Sylvain Lepage 2019.08.21 10:23 
             

            Swift and professional service from the author, he's really helpful.

            EA looks very promissing. Strategy tester shows very good results.

            Today I start it on live account and in a few weeks i will renew my reviews

            For now 5 stars.

            UPDATE 26 SEPTEMBER

            This EA works well if your account is less than 10 000 € (DD : 35% maxi - 0.01 lot)

            Over 10,000, gains decrease and losses increase.

            The martingale is too high (almost x 4...!!)

            UPDATE 08 OCTOBER :

            The martingale is definitly too high !

            The stop loss too big

            Too dangerous !!

            Andre Gomes
            2045
            Andre Gomes 2019.08.02 16:31 
             

            Backtesting results seems very promising. Author has a signal to follow the EA. I will update my review once I have more experience using the EA.

            Reply to review
            Version 2.97 2020.04.26
            Fixed minor bugs.
            Version 2.96 2020.01.03
            Fixed a bug with GMT.
            Version 2.95 2019.11.27
            Minor bug fixes.
            Version 2.94 2019.09.15
            1. The function of opening orders has been improved.
            2. Improved trailing stop function.
            Version 2.93 2019.08.18
            1) Added information about the minimum lot.

            2) Added automatic GMT configuration:
            For the EA operation, open "Tools" > "Options" > "Expert Advisors". Check the option "Allow WebRequests for listed URL:". Add https://time.is/UTC and click OK.