Mean reversion range EA for majors and cross currency pairs.
Live performance: https://www.mql5.com/en/signals/1603653
Currency pairs: EURUSD, USDJPY, GBPUSD, AUDUSD, AUDJPY, EURJPY, EURGBP, USDCAD. EA performance optimization has been made and may be made in future on these pairs.
Timeframe: EA should be set on М15 as trade signals are checked on M15 only. EA may skip some deals if chart timeframe is higher than M15.
Broker timezone settings. "Winter UTC offset, hours" - winter offset. "Winter/summer changes schedule" - schedule of server DST shift. It is UTC+2/+3 winter/summer by default and it is valid for most brokers.
You have to set it only once, no need to recheck it twice a year, EA will handle everything correctly. Backtests for different brokers will match both in winter and in summer.
Risk settings. Volume is set with inputs "Money management", "Value for Money management", it is fixed lot, fixed risk per trade, or fixed volume per 1000 equity. Max simultaneous trades allowed is max trades allowed to be opened at same time. EA holds up to 2-3 trades most of time, and this parameter allows to limit the risk explicitly.
Launch EA on M15 of any of recommended currency pair, set timezone and volume inputs. Rest may be left default. EA is ready to trade.
Spread control. If "Enable spread control" is on EA will not trade if current spread exceeds "Max allowed spread" value. Spread may be set in pips or percents of current price ("Spread unit" input). Default settings may be used for recommended currency pairs. EA will not skip deals on normal market while it will avoid trading on untested market conditions with huge spreads.
Stops and targets. "Stop-loss value", "Take-profit value" - initial stop-loss and take-profit. Stop-loss and take-profit may be set in pips or percents of current price ("Unit" input). While EA is optimized on defaults it is quite possible to find different tradable settings.
Breakeven. If "Enable breakeven" is on then on "Profit trigger, pips" profit reach stop-loss will be dragged to trade open price level + "Profit to save, pips". It is pullback EA and breakeven is off by default.
Trail. If "Enable trail" is on then on "Profit trigger, pips" reach distance between current price and stop-loss is checked. If the distance is higher than "Trail distance, pips" stop-loss is dragged on new level. "Trail step, pips" input sets minimal difference between current and new intended stop-loss. Trail is off by default like breakeven.
Backtesting: EA trades on candle closure and may be tested with "Open prices only" mode which is much faster than "Every tick" with essentially same results.
Neither tester nor live performance in the past ensures future results. Risk settings should not be based on backtests. Lower risks means higher possible returns. EA may open multiple deals by default, so fixed risk within 0.3-3% per trade is fairly ok for live trading.
Support. Send personal message for any questions on EA work, installation and settings.