Mona Lisa MT5
Mona Lisa MT5 is a unique and fully automated Trading Advisor. The system is based on its own trading strategy, which is based on both indicator-based Technical Analysis and Price Action principles. This makes the system flexible and adaptive for trading a large number of currency pairs and minimizes the chance of over-optimization.
Mona Lisa MT5 is a midnight trading scalper that trades for a short period of time during the rollover period in the Trading Channel when market volatility is low. When developing this Expert Advisor, the main problem that other midnight scalpers face is Market Execution and Sllipage, so the system uses only Limit-orders, the main feature of which is the most accurate execution. Thus, the impact of a high spread in rollover and high Sllipage is minimized.
The system is recommended for the following currency pairs:
- AUDCAD, EURAUD, EURCHF, EURUSD, USDCHF (timeframe M5)
Mona Lisa MT5 is a protected by news filter which stops trading during the release of important news. To activate the news filter, allow WebRequest to the site:
Mona Lisa MT5 is a safe trading strategy and does not use dangerous trading methods like Grid and Martingale. All transactions are protected by Stop Loss and Take Profit. In addition, Take Profit is dynamic and moves closer to the price according to the movement of the trading channel.
The minimal recommended deposit is $50. In order to achieve stable perfomance it is highly recommended to use ECN accounts with a minimum spread and a commission per trade of no more than $7 per lot (the optimal commission size is $ 4-5 per lot).
- Fixed lot - Fixed trade size
- Percent of Loss - Trade size depending on the size of the maximum balance loss
- Percent of Balance - Trade size proportional to balance
- Risk Size - Money Management Value
- Triple Swap Protection - True - Do not open a deal during the period of accrual of a triple swap
- Allow Monday Open Trading - True - Allow trading at the market open on Monday
- Allow Friday Night Trading - True - Allow trading before the market closes on Friday
- Stop Loss – Stop Loss size (pips)
- First Start Hour - The beginning of the first trading interval
- First End Hour - End of the first trading interval
- Second Start Hour - The beginning of the second trading interval
- Second End Hour - End of the second trading interval