New Generation EA MT5
- Experts
- Ismail Hakki Delibas
- Version: 1.16
- Updated: 3 February 2024
- Activations: 10
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
- 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.
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.
Since mid January 2022 I'm running this EA live, first with EURUSD,NZDUSD and EURGBP only. After 1st week live with app. 12 pairs. The result so far: 180 TP 17 SL, Profit trades 91% Cannot confirm reported errors, setup of new pair is running well if bars downloaded first as written. Conclusion: handling in backtests and live is very easy, no doubt the NG is a masterpeace, max. review points, thanks Ismail for your great work!