The Monogram Expert Advisor looks for strong price movements and trend reversals. The system is based on volatility breakouts.
Stop loss and take profit levels are set for each order, trades are additionally managed by trailing stop. If there is a strong movement on the market, the EA opens a deal and moves stop loss to better positions as soon as possible.
The EA works best on the following pairs: EURUSD,GBPUSD,USDJPY,USDCAD,AUDUSD,EURAUD,GBPJPY,CADJPY,AUDJPY,XAUUSD.
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- All optimizations are based on the leverage of 1:500 and the fact that a true ECN broker offers competitive spreads and minimal slippage. If you want to trade with a higher leverage, it is recommended to reduce the value of (RiskPercent).
- It is strongly recommended to open a separate account for each currency pair.
- Before using on a real account, test the EA (a day or two) on a demo account (in the conditions of your broker).
- Leverage: 1:500.
- ECN account with fast execution.
- VPS hosting is recommended.
- Timeframe: M30;
- Spread no more than 10 points (the less, the better).
- TradeManager - trade manager;
- TradeComment - order comment;
- Magic Number - magic number;
- Slippage - maximum allowed slippage;
- MaxSpread - maximum allowed spread;
- FixedLot - fixed trading lot size;
- RiskPercent - risk per trade (in percent);
- MaxDrawdown - the maximum drawdown (in points);
- StartHour - trading start hour;
- EndHour - trading end hour;
- GMTOffset - time zone (GMT);
- TradeDelta - trade delta (in points);
- Trailing - trailing stop distance (in points);
- StartTrailing - trailing stop start (in points);
- VirtualStops - virtual stop loss (in points).
Notice: the EA can open several trades in one direction on one pair. This can lead to a drawdown.It is highly recommended to open a separate account with a broker for each currency pair.
Profits made in the past do not guarantee profits in the future!