This EA is a limited version of our EA "FollowTheTrendMulti" (https://www.mql5.com/en/market/product/11524).
This EA calculates an index in real time for each major currency (EUR, GBP, USD, JPY, CHF, CAD, AUD and NZD).
If the delta between the 2 index of a pair exceeds a specific value, a position is open. FollowTheTrendMulti chooses the better pair to trade and manages simultaneously up to the number of pairs of your choice ('Max open positions on the account' parameter).
In this FREE version, volume size is set to: 0.02 lots and cannot be changed (verify that your account accepts a minimum order size of 0.01 lots).
The number of positions opened on your account cannot exceed 4 simultaneously, else the EA will not open any new position.
Only following currencies are available: EUR, GBP, AUD and USD.
- Volume Max: You can limit the maximum volume size of a position
- Trading Mode: You have choice between "Safe", "Automatic" and "Agressive" mode.
- StopLoss: Set a Stop Loss at ‘x’ pips from the current price when the Martingale Max Level is reached (see below).
- Secure Stop Loss: for those who want to use a stop loss (default: disabled)
- Martingale: Max levels (0: disable): You can select the maximum level for the martingale (0 to 'x'). Our previous EA used a martingale based on HI/LO, we implement now a more efficient model based on the indicator "Laguerre" (created by John Ehlers).
- Martingale: Coefficient: This parameter defines the coefficient of the martingale. The martingale will be increased with this value: first step, volume = 0.3, second step, volume = 0.3 x Coefficient (3) = 0.9, total volume will be : 0.3 + 0.9 = 1.2 lots, and so on.
- Trailing Stop Start Level (ticks): The trailing stop maintains a stop loss at a precise distance below (long position) or above (short position) the market price. This stop loss is adjusted continually based on fluctuations in the market price. If you start the trailing stop as soon as the position become profitable, you will never do substantial gains. Enter here the number of pips to reach before activating the trailing stop.
- Pairs to exclude: Enter the currencies you want to exclude separated by “space” (Ex : “EURNZD GBPAUD”)
- Enable sound alert when a position is opened: An audio message “Open Position” will inform you that a position is opened.
- Send a notification when a position is opened: A notification will be send to your mobile when a position is opened. You must configure MT5 notification options.
The green "Freeze" button prohibits opening new positions and disallows any changes in the size of opened positions. You can use it before high volatility period.
MetaTrader 5 Setup
This EA uses the "Forex Factory" economic calendar to avoid increasing the size of a position 2 hours before an important economic news.
To enable automatic downloads of this economic calendar, you must “Allow WebRequests” for following URL : “http://www.forexfactory.com” (Menu: Options / Expert Advisors / Allow WebRequest for listed URL)
Don't hesitate to contact us to receive the manual of this EA (firstname.lastname@example.org)