MangoFX Tessa
- Experts
- Olisa Chigozie Ufondu
- Version: 1.0
- Activations: 5
MangoFX Tessa is a sophisticated, rules-based trading robot for MetaTrader 5 that identifies high-probability entry points using a unique price-level analysis combined with trend-confirming EMAs. It is designed for traders who want a disciplined, automated system with flexible risk management and two distinct trading modes.
The EA's core logic is built around proprietary X-number levels to determine precise entry, stop-loss, and take-profit levels. It then uses the relationship between two EMAs and the current bar's direction to confirm trades, helping you avoid false breakouts and stay aligned with the short-term trend.
Key Advantages:
· No Martingale, No Grid, No Arbitrage – The EA opens a single directional position per magic number, respecting the natural market flow.
· Two Core Trading Modes – Choose between two core trading modes, each with adjustable styles to match your risk preference.
· Automatic Breakeven – Once the price reaches a predefined trigger level, the stop-loss automatically moves to the entry price, locking in a risk-free trade.
· Built-in Risk Management – Set daily profit/loss limits, maximum account drawdown, yearly profit targets, and maximum positions. The EA can optionally close all positions when limits are hit.
· Opposite Position Control – Decide whether the EA may open a buy when a sell is already open (or vice versa).
· Clear Chart Display – Shows trial days left, current mode, position count, and active risk limits directly on your chart.
How It Works (Simplified):
1. Level Calculation – The EA identifies specific price levels using the X-number method.
2. EMA Confirmation – It checks the current bar's direction (bullish/bearish) and compares the entry level to two EMAs.
3. Entry Execution – When price crosses a predefined level and all confirmation conditions are met, the EA opens a trade with calculated SL and TP.
4. Trade Management – If enabled, breakeven is applied once the trade reaches a partial profit level. Risk limits are continuously monitored.
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Input Parameters (Customizable)
Parameter Description:
Digit position - Which digit to use for level calculation.
Trading Mode: 1 = buy 30/sell 90; 2 = buy 90/sell 30 - Selects the core strategy direction.
First EMA period - Period for the first exponential moving average (default 9).
Second EMA period - Period for the second exponential moving average (default 21).
Lot Size - Fixed trading volume for all orders.
Mode1 style - Defines how TP/SL are calculated when Mode=1 (options 1,2,3 with different risk-reward profiles).
Mode1, Style 1 - TP option For Mode1 Style1 only: uses full levels (1.5 reward) or mid levels (1:1).
Mode2 style - Defines how TP/SL are calculated when Mode=2 (options 1,2 with different risk-reward).
Magic number for buys - Unique identifier for buy positions.
Magic number for sells - Unique identifier for sell positions.
Enable buy trades - If false, no buy orders will be placed.
Enable sell trades - If false, no sell orders will be placed.
Move SL to entry after reaching first target - When enabled, automatically moves stop-loss to breakeven after partial profit.
Allow opposite direction position while one is open - If true, can open a buy even if a sell is already open.
Max total positions (0=disable) - Limits the total number of concurrent positions from this EA.
Max Daily Profit (0=disable) - Stops new trades (or closes all if floating protection is on) when daily closed+floating profit reaches this amount (account currency).
Max Yearly Profit (0=disable) - Stops new trades (or closes all if floating protection is on) when yearly profit reaches this amount.
Max Daily Loss (0=disable) - Stops new trades (or closes all if floating protection is on) when daily loss exceeds this amount.
Max Account Drawdown (0=disable) - Maximum allowed drawdown from peak balance (trailing). Blocks new trades if reached.
Enable floating profit/loss protection - When true, the EA will actively close all positions if daily profit/loss or yearly profit limits would be exceeded by floating P&L.
EA comment for trades - Optional comment added to each order.
