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New Generation EA MT4

2.67

EA Description :

This is a High-Frequency Trading EA. EA is supported by a strong signal finding algorithm. Most of the algorithms are smart and automatic. You need to adjust only 3 parameters to optimize the signal engine of the EA. Thus optimizing and using EA is very simple and easy.


    Supported Symbols and Timeframes :

    All timeframes and pairs are supported by EA.

    The best operation of EA is on all 28 Major and Cross Pairs of Forex.

    The best timeframes are M15,M30,H1


    EA Inputs
    • General Options
      • Trade Type
      • Maximum Number of Open Trades any time
      • Minimum Distance to Open New Position (Type/Points/ATR Multiplier) : Minimum distance from existing position to open new one if signal conditions meet
      • Minimum Distance to Open New Position (Minutes) : Minimum time from last trade to open new one if signal conditions meet
      • Maximum Spread to Open Position (points)
      • Take Profit ( Type/Points/ATR Multiplier )
      • Stop Loss (Multiplier of Take Profit)  : SL is defined based on the multiplier of TP. Any value (even smaller than 1.0) is accepted.
      • Close All on Total Profit/Loss (0:Disable)
      • Magic Number
      • Comments of Orders
    • Signal Settings
      • Wait for Stronger Signal (Points) : The amount of points to wait to make sure signal power is enough.
      • Entry Signal Period
      • Verification Signal Period Multiplier : Any value larger than 1 or equal with 1
    • Trailing Stop and Break Even
      • Trailing Stop Loss
      • Trailing Start (Points)
      • Trailing Stop Loss (Points)
      • Trailing Step (Points)
      • Break Even
      • Move TP to Break Even After Loss Amount (Points)
    • Volume
      • Volume Mode : Available options : Constant,Risk Percent of Balance/Equity,Auto Lots Based on Balance/Equity
      • Constant Lots (if above selected)
      • Risk Percentage (if above selected)
      • Auto Lots Per 1000 Balance or Equity (if above selected)
    • Notifications
      • PopUp Alerts
      • Push Notifications
    • Trading Time

    • News Filer
      • To enable news filter, On the Tools/Options/Expert Advisors Click and enable Allow Webrequest option and add http://ec.forexprostools.com/ to the list
    • ATR Settings
      • ATR Timeframe and Period used for distance of orders and TP if you set the mode=Based on ATR


        Recommended Settings for Optimization 


        For optimizing EA you can select these values as a typical ranges :

        - On the inputs below : First number is Start. 2nd is Step. 3rd is Stop values of tester optimization values.

        - Leave other inputs as their default values.

        - Volume Settings : Start with lower volumes. After finding the best settings, increase volumes.

        • Minimum Distance to Open New Position (points) : 100,100,200
        • Minimum Distance to Open New Position (Minutes) : 30,30,90
        • Take Profit (points) : 400,200,600
        • Stop Loss (Multiplier of Take Profit)  : 1,1,4
        • Wait for Stronger Signal (Points) : 10,10,50
        • Entry Signal Period : 10,5,25
        • Verification Signal Period Multiplier : 2,1,3


        Using EA

        • Using EA is very simple. All above settings can be changed in the inputs tab. You can attach EA to any chart with any timeframe. You can customize EA by attaching on more than one chart and setting different inputs.
        • If your account balance is low, you can use EA on micro/cent accounts.
        • Important : The EA has large consecutive losses. Don't use large and aggressive volumes for trading. It is recommended to use about 10% of volumes you find on backtest or optimization for real trading.


        Growing the EA


               I will update and make the EA better and better. You can help by contacting me for any new feature needed on your trading. I will consider the next updates of EA.


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        Filter:
        Sadasoft
        1844
        Sadasoft 2022.03.04 12:06 
         

        Even if the Ea looks in some way promising the author is not answering some basic things related to the optimization. The backtest looks overfitted and that may drive to the non-good live result observed. If the author will be cooperative and giving real complete information about how the settings are made, the periods of optimization "in sample" and "out sample" and therefore the way the EA reacts and the proper way to make it work I will change my stars to a better evaluation. Right now I do not feel the EA is worthy the money and its not recommended from my side.

        After almost 4 months of use, the graph is terrible.

        Every SL eats the profit of multiple TP

        Thje Ea is clearly over optimized and making huge losses

        Phoenix
        224
        Phoenix 2022.02.11 05:22 
         

        I bought New Generation EA for 1 000 USD. So far, I have felt really disappointed in this EA. I want developers to improve this EA to find better entry points so that this EA can make even greater profits in a short period of time.The trading type of this EA is swing trading, not day trading. This EA may hold open interest for a few days to 10 days or more. I also recommend setting the lot very small, as losses can be high. If the EA holds an open position for an extended period of time, there is an increased risk of learged losses. Last but not least, this EA rarely starts trading that's also points to be improved. The EA that doesn't trade and make a profit is worthless, it's sometimes even harmful. The Developer says "This is your strategy" a lot, I'm sick and tired of that.

        -------------------------------------------

        ver1.6 was released in 2/19/2022.

        It's horrible! I can't stand it.

        This EA has liquidated positions at a large loss over and over again.

        -------------------------------------------

        ver1.7 was released in 3/26/2022

        "Strong Signals Only" function is good.

        However, there is room for improvement in this feature.

        I change the number of stars to 2.

        Reply to review
        Version 1.7 2022.03.26
        - Enabled decimal values for ATR Trailing and BE
        - Added Stop Trading Option
        - Added option to enter on Strong Signals Only
        - Optimization on Performance of Signals
        Version 1.6 2022.02.19
        This is urgent update of EA because news source is changed from http:// to https://
        Please update the EA and enter below link on terminal allowed webrequest list :
        https://ec.forexprostools.com/
        If you are not using news, no need to update the EA.
        Version 1.5 2022.02.13
        - Added panel display on chart
        - Added more options on notification feature
        - Added TimeFrame option to the inputs
        - Added Trailing Stop and BreakEven based on ATR
        - Optimized performance of the EA
        - Added risk control based on equity and free margin

        Version 1.4 2022.01.08
        Added options and settings :
        - Trade Type
        - Close All on Total Profit/Loss
        - Comments of Orders
        - Customizing Notifications
        - TP and Distance entry based on ATR
        Version 1.3 2021.12.24
        News Filter Added.
        Some Improvements on Trading Signals.
        Version 1.2 2021.12.17
        Added Different trading time for each day.
        + some optimizations on trading engine
        Version 1.1 2021.12.15
        Trading Time Filter Added