Fundamental SPX EA
MT5 Version: https://www.mql5.com/en/market/product/54632
Simple but powerful strategies designed for longterm Profit with low risk.
This EA will never hold more than one position at a time! It is fully compatible to FIFO- and Netting-Accounts!
Because of the low trading-activity it can take some time to recover from a drawdown.
The goal is to grow your account over years instead of blowing it in weeks!
- Fundamental Gold EA for XAUUSD (free) - https://www.mql5.com/en/market/product/48667
- Fundamental DAX EA for DAX or DE30 - https://www.mql5.com/en/market/product/48668
- Fundamental SPX EA for S&P 500 or US500- https://www.mql5.com/en/market/product/48669
- Fundamental USD EA for EURUSD - https://www.mql5.com/en/market/product/48737
The Signal: https://www.mql5.com/en/signals/737579
Telegram Channel: https://t.me/joinchat/AAAAAFcbJ1ZnnUyKR197YQ
Symbol: US500 (could also be called SPX, USA500, USA500.IDX, S&P 500 or similar)
Timeframe Live: Any
Timeframe Backtesting: M5 or lower
Balance/Deposit: At least 500 ($/€/£) balance for this EA alone. At least 800 ($/€/£) balance for all four EAs of “Fundamental Series”, otherwise the risk-management does not work as intended.
Leverage (for the symbol): leverage of at least 1:20. Higher is good, but not necessary.
Keep in mind, at most brokers the minimum Lot size for US500 is 1 whole Lot!
How to set up (quick setup)
- 20% - high risk
- 15% - medium risk
- 10% - low risk
If you use „Smart Risk“ Mode you need to input the Symbol Leverage (which can differ form the overall Account-Leverage) for correct calculations. If no input is entered, the Account Leverage will be used. Check your brokers website to find infos about that or message me if you can’t find it out.
I recommend to set the Spread-Limit to about three-times the value of a "normal" spread value. If at your broker the spread usually is about 50, then set it to about 150.
- For quicker backtesting, disable the dashboard.
- The EA has only a tiny time window to place or close a trade. When backtesting with higher timeframes it can happen that there is no tick inside the time window. You always need to backtest on the lowest possible timeframe. The number of ticks is more important than the quality of the history data.
- If you use history data from the internet you might need to change the time offset according to the time zone of the history data. If you can't find out the time zone, message me, I will help you find it out.
Message me if you have a question or need help during setup!
No changes to the trading algorithms.
The Smart-Risk function had a safety feature which uses the Account-Leverage if the leverage-input is lower than one fifth of the Account-Leverage. This was to prevent you from setting to low inputs accidentally, as this would increase the calculated lot-size and could mess up the risk-management.
A friendly customer notified me that at some brokers the difference between Account- and Symbol-Leverage can be even bigger. Therefore you can now input lower leverages which are as low as one tenth of the Account-Leverage.
Don't hesitate to contact me if you have any questions about that or need help during set-up.
No other changes than that.
- Risky trades will be avoided. This leads to less trades overall.
- The "Auto SL + TP" Function was revised. The Stops are now tighter and even more adaptable to the market.
- The overall risk was further reduced by these steps.
- Minor cosmetic changes
- The banner alert was removed and replaced by a message box
- Additional message box notifications help to make sure the setup was done correctly.
- Minor bug-fixes
- No changes to the trading-algorithms
- Minor bug fixes and small changes to the dashboard.
- The version number is now displayed on the dashboard.
- Performance was improved and risk reduced
- EA will analyze the market for potential risks
- Smart Risk Logic and Auto SL + TP will react to the market analysis
- Entry Timing slightly changed to get the chance for a tighter spread
2) The EA now checks if Auto-Trading is enebaled when it is loaded onto a chart. If not, the EA will tell you with a red banner on the chart.
No changes to the trading algorithm.
- EA will now manage only trades which have the EA's magic number AND symbol. This way a unique magic number is required only if you run multible EAs on the same symbol.