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Mito EA

For short-term traders who like positions to open from several hours to several days, MITO Expert Advisor uses advanced internal algorithm to measure market sentiments of FX order flow.

MITO combines sentiment analytics with price action, volatility and other market dimensions to trade the highest probability entry point.

Tracking Account

Mito EA: https://www.mql5.com/en/signals/571829

MITO has been developed and tested for 14 years (2005-2019), 99.9% quality historical tick data over 25 FX pairs and Gold. Multiple robustness tests are carried out before a system is qualified for real implementation:

  • Test with 99% tick qualtity, variable spreads and slippage, execution delay simulation
  • All surrounding parameters must give stable, profitable results
  • Correlated pairs must also give profitable results

Features

  • EA Setup is investor-friendly. Setup is very simple with One chart setup. Simply attach the EA to one chart, choose the broker settings and you’re good to go
  • Each trade always have protective Stop Loss/Take Profit and SL will be moved to Breakeven at an optimized time,reducing equity fluctuation. 
  • SL is from 20 -250 pips while TP is from 50- 400 pips , offering high reward to risk ratio
  • NOT a scalping, hedge, grid or martingale EA. Each trade is independent from others and have high expected payoff (average pip per trade)
  • Can run on all brokers’ execution types. It is not sensitive to broker’s spreads, slippage or execution delay
  • FIFO and low-leverage account compatible
  • Backtested trades match real trading
  • MITO can trade multiple market conditions with multiple sub-systems; MITO offers a diversified trading portfolio , thus reducing drawdown and enhancing return in the long run

Settings

  • All Symbols: true = One Chart Mode, false = trader can attach MITO to trade preferred pairs
  • Fixed Lot Size/ Lot per Balance / MaxRisk% per trade Money management modes
  • Spreads/ Slippage Filters
  • TradeOneDirectionOnly (useful for FIFO account)
  • GMT Settings: select NY Broker Close / DST Mode (Europe/US) or ManualGMTOffset

Pairs

AUDCAD, AUDUSD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, USDSGD, XAGUSD, XAUUSD

Timeframe: H1 and H4

Before attaching the EA, you need to load all H1/H4/Daily historical data in MT4:  Tools --> History Center (F2) --> double click on H1/H4/Daily of every symbol that you want to run the EA on. Otherwise when starting Mito,  Entry/SL/TP can be wrong as the EA lacks the necessary data to calculate properly

One Chart Setup: Enable these pairs in Market Watch -->  Attach Mito to EURUSD H1 Chart, All Symbols = True, System Number = 0 , set correct GMT Adjustment settings --> Check Dashboard GMT Adjustment Time should be the same as Alpari MT4/ EET --> When chart candle closed, check MT4 Journal to see all systems loaded

Recommendations

  • Recommended Brokers: New York Close Broker (GMT+2 +3): Alpari, ICMarkets, TickMill, GlobalPrime etc.
  • Minimum balance: 800$ with 0.01 lot size

*Important for Backtesting:

For proper backtest, set All Symbols = False, System_Number = 0. Backtest Timeframe H1 only ( as the systems use H1 and H4 TF to trade), preferably to test in Every Tick

Change GMT Adjustment settings so GMT Adjustment Time is the same with Alpari MT4 or European Eastern Time (EET). The easiest way is to use a NY Close Broker (Alpari, ICMarkets etc.) then select appropriate DST settings ( Europe/US).

EA only acts when H1 Candle closes so Open Price testing is similar to Every Tick testing


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Versión 5.0 2019.10.28
Integrated proprietary Trade Matching Algorithm: Improved statistical reliability between backtest and real trading
Improved portfolio balance
Improved stability
Robustness check
Improved user customizability: custom pairs, custom timeframes
Fixed DST settings
Auto suffix/prefix recognition
Fix some small bugs
Versión 4.4 2019.09.14
Additional AUDCHF, AUDUSD strategies
Improvement of closing algorithm with limit and stop orders
Now real trading will work more accurately in accordance with trading models
Versión 4.2 2019.06.30
added XAGUSD, USDSGD strategies
major performance improvements compared to 3.x versions
Versión 2.9 2019.05.26
improve execution function
Versión 2.4 2019.05.11
Added AUDJPY, CHFJPY, GBPJPY, EURJPY strategies
Versión 1.7 2019.04.26
fix dashboard display bug
Versión 1.5 2019.04.25
fix a bug in some rare case SL was not moved to breakeven correctly
Versión 1.3 2019.04.23
fix minor bugs
Versión 1.2 2019.04.23
Fix minor bug in Multi TF backtest
Versión 1.1 2019.04.22
v1.1 improved AUDCAD performance, recheck some parameters