Legacy Merlin EA
- Experts
- Version: 2.20
- Activations: 10
⚡ Legacy Merlin EA — Automated Trend-Following System
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A fully automated Expert Advisor built around the Legacy Lancelot signal engine. It trades trend reversals on the close of each candle and wraps every position in a complete, configurable risk and trade-management layer. Built for traders who want disciplined, rule-based execution — not guesswork.
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✨ KEY FEATURES
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🎯 Clean Trend-Reversal Logic (No Repaint on Entry) The EA reads the trend state of the LAST CLOSED candle (not the forming one), so entries are based on confirmed, non-repainting data. A new position is opened only when the trend genuinely flips.
🔬 Optional Confirmation Filter (ADX + Volume) Switch ON to take only "confirmed" reversals, where the underlying signal strength crosses a higher conviction threshold. Switch OFF for every trend flip. Your call.
📐 Two Position-Sizing Modes (TRUE/FALSE switch)
Fixed lot — trade a constant volume you define, or
Risk-based sizing — the EA calculates lot size automatically from a chosen % of account balance and your Stop Loss distance. Volume is always normalized to the symbol's min / max / step, and free margin is checked before every order.
🛡️ Break-Even Once a position reaches your chosen profit threshold, the Stop Loss is moved to lock in a small, defined gain.
📈 Trailing Stop with Step Follows price at a fixed distance and only moves in meaningful steps, avoiding excessive modifications and broker noise.
💰 Partial Close (TRUE/FALSE) Optionally bank a chosen % of the position once a profit target in points is reached, letting the remainder run under the trailing stop.
🚦 Spread Filter (TRUE/FALSE) Skip new entries when the spread is wider than your limit — useful around rollover and thin liquidity.
🕒 Time / Session Filter (TRUE/FALSE) Restrict trading to a chosen server-hour window. Supports windows that cross midnight (e.g. 22:00 → 06:00).
🧯 Daily Risk Limits (TRUE/FALSE)
Daily stop-loss as a % of balance, and
Maximum number of new trades per day. Both are computed from real account history, so they survive a terminal restart.
⚙️ Broker-Safe Engineering
SL/TP validated against the broker's minimum stop level
Lot normalization + free-margin check
Trade-permission checks (terminal / account / EA)
Works on both NETTING and HEDGING accounts
Magic Number to isolate the EA's own trades
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🎯 WHO IS IT FOR?
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✓ Traders who want automated, disciplined trend execution
✓ Users who already like the Legacy Lancelot indi approach
✓ Anyone who values strong, configurable risk management
✓ Works on Forex, metals, indices and crypto CFDs
✓ Recommended on M15 and higher timeframes
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📊 HOW IT WORKS
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Monitors the Legacy Lancelot trend state on each closed candle
Opens a trade when the trend flips (optionally only when confirmed by the ADX + Volume filter)
Optionally closes the opposite position on a reversal
Applies Break-Even, Trailing Stop and optional Partial Close while the trade is open
Enforces spread, time-window and daily-risk limits before any new entry
This is a PATIENT, rule-based system: it trades when conditions are met and stays flat when they are not. Some days several trades, some days none.
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⚙️ REQUIREMENTS
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MetaTrader 5
Any broker (no restrictions)
Demo or live account
One chart / one EA instance per symbol
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🎁 FREE DEMO
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A free demo is available and runs UNLIMITED in the MetaTrader 5 Strategy Tester.
How to try it for free:
Click "Free Demo" on this product page
Open MetaTrader 5 Strategy Tester (Ctrl+R)
Select the EA, choose any symbol / timeframe / period
Run a backtest to evaluate the logic and risk management
Please note: as with all MQL5 Market products, the demo works in the Strategy Tester only — it does not trade on live or demo accounts.
The full version runs on live + demo + Strategy Tester, activates with one click after purchase, and is tied to your MQL5 account.
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⚠️ DISCLAIMER
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Trading Forex and CFDs carries substantial risk. This EA is an automated execution tool, not a guarantee of profit. Past performance does not indicate future results. Always test thoroughly on a demo account first and trade only with capital you can afford to lose.
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📞 SUPPORT
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For questions, bug reports or feature requests, please use the Comments section of this product page. Response within 24–48 hours.
