Procyon EA
- Experts
- Peter Roy Sorenson
- Versione: 1.1
Procyon is an automated Expert Advisor that uses the combination of the Ichimoku Kinko Hyo, Candle Patterns and a relatively new Reflex Indicators to identify Spinning Top Candles in Bullish or Bearish patterns. The EA has a hard, fixed Stop Loss and Take Profit. Even though the win rate is a little more than 50 percent, the SL is about half of the TP. So, you will have trades float in high positive sometimes. Recommended pairs and time frames are located in the Comment section.
Procyon is not overly sensitive to spreads or latency speed with Broker in order to execute trades. However, the tighter the spread and fastest ping is obviously better. Back Test results were from worse case of up to 20 spread (variable), up to 5 slippage and 100ms Latency.
Normal Disclaimer for new traders: Trading foreign currency exchange on margin and with an Expert Advisor carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
Live signal monitoring:
https://www.mql5.com/en/signals/960501
Features
- Does not use dangerous methods in trading, which lead to a sharp loss of the entire Deposit (martingale, grid, arbitrage, etc.);
- Every trade has a hard Stop Loss and Take Profit protecting your Deposit;
- Recommended pairs: See Comments for Set files. Only use provided Set files for EA.
- EA is no longer FIFO compliant because we have added multiple TF’s for each pair.
Characteristics
- Magic Number – Use set file or change to up to 6 numeric characters
- Opening trade: Ichimoku/Candle parameters – use set file (do not change)
- TP/SL – use set file
- Reflex parameters – use set file (do not change)
- MM Amount for a new position (Risk %) – adjust to your risk tolerance. Or set to 0 MM and put in your fixed lot size;
- Maximum position amount (lot size) – default is 100;
- Trading Ranges – all optimized already, but if you want the EA to trade within certain TF or pips, you may change. Changes in these will greatly affect performance good or bad.
- Modify or replace stops/trades – set at true for default;
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Please feel free to perform your own back test by downloading the Demo. Support for EA:
Telegram: https://t.me/constellationEA
Note: the EA may not trade every day. Check performance in back testing. Also, this is a LONG TERM strategy. There will be good and bad weeks.
Good job.