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Momentum-5min-TrendFollowing (M5M-TF) is a fully automated Expert Advisor. Default settings are ready to use and fully optimized for EURUSD. M5M-TF is based on trading strategy ‘5min Momentum’ from Guan TianHao. The strategy is optimized by using volatility levels, adjusting stoploss which too near double 00 price level, closing whole position instead of half position after too long waiting for profit more than trade risk. Trend Following in Hourly timeframe, long and short trades following trend, no use of take-profit, adjusting stop-loss while volatility levels surges. The money management system calculates risk from your free margin, minimizing your risk of ruin, and maximizing the trading power of your capital.

One of the key features of M5M-TF is the ability to block trading during expected periods of volatility. Asia session and the last half of the New York session are all blocked by default, but they can be altered to suit your taste. M5M-TF works on any account balance, EURUSD and GBPUSD (only EURUSD optimized at launch), any account type, any leverage level, and is spread sensitive. M5M-TF only functions on M5 charts.

Recommendations: Use default settings to trade EURUSD, on M5 chart. Change risk setting to suit your trading style, recommended risk % is <8 for capital preservation and up to 10 for extreme growth. Use a starting balance of $200+. Use a low spread broker to maximize profits, and change max spread settings to a few pips higher than your broker's usual spread (this is to protect you from spread fluctuations due to unforeseen market events). Use leverage of at least 1:100.

Watch the 'Comments' section for future optimization files, and live trading links!

Description of Settings

Strategy Settings

  • StopLossSpread: initial stoploss level above/bellow EMA (in Pips).
  • CloseSpread: after taking profit for half of position, closing position when the price is going over opposite level of EMA(in Pips).
  • TrendFilter: Momentum-5min trend filter level above/bellow EMA(in Pips), noise filter.
  • TrailingStopThreshold: Threshold to enable trailing stoploss, 5 min price range in pips。
  • FixedLotSize: If >0, choose fixed lot size(within broker's min and max lotsize, otherwise, broker's min or max is used) otherwise automatically chooses lot size based on risk.
  • Risk %: Choose any number from 0.1-10. 2 risk means each trade risks 2.0% of your free margin, 8.5 risk means each trade risks 8.5% of free margin.
  • Max Spread: M5M-TF will not trade if the current spread (pips) exceeds this number.
  • TradingHours: only open new position between StartHourMin and EndHourMin.(in Trade Server Timezone, 900/2059 should works for most MT4 platform)

General Settings

  • Magic Number: Identifies EA trades.
  • Slippage: Max slippage. Trades will be cancelled if open price slips by this many points from time of trade signal.
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